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Islamic Finance Briefing - Categorized | Islamic Law / Economics, Market Moves more

Oil and the Persian Gulf: Islamic tools to the rescue

Posted on 30 August 2012

As we have said again and again in this series of articles, oil could have been, and should have been, a blessing in the Middle East but it has turned out to be more a curse.
Why has the economic and political development of in these oil-exporting countries been so dismal? The “oil curse” has had many tentacles. With vast oil revenues, the temptation to rob the citizenry has been irresistible for rulers, and the elite - the family and friends of the rulers, cronies, senior military and anyone who had even a remote opportunity to enrich themselves………………………………………..Full Article: Source

 
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