1.2 The Economic weakness of the Muslim World suggested solution

Despite the enormous advantages mentioned above, the industrialized West holds a powerful grip over the economies of 43 Muslim States which produces only about 4 % of the world's G. N. P. Out of this 4 %, almost 3 % is shared by the rich oil-producing states. We see the paradox of massive concentration of wealth existing side by side with massive poverty and underdevelopment. Saudi Arabia, The Muslim region cannot design and make a machine that can produce needles and pins.

In food, although the majority of the population is engaged in agriculture, the Muslim world is still dependent on others for its requirements. Failure in the field of food has led to untold manipulation on the part of the suppliers which turn and twist the situation to their own advantage. Muslim countries are mostly deficit in food and suffer from low standard of living.

Today's Muslim poverty in education is awful. 71 % of the Muslim states spend less than 4 % of their G. N. P. on education. In the modern age of science and technological advancement, the Muslim world spends less than 0.5 % of the G. N. P. on science and has only ten scientists or engineers per million of inhabitants. The Muslim world is very rich and yet desperately poor. The solution lies in an equitable distribution of wealth. By 1985, half of the Arab surplus resources may exceed the global reserves of gold and foreign exchange. It is time to realize that Arab reserves in the West, in the form of stocks, bonds and bank deposits, are often used by the West to finance development and arming of countries which are hostile to the Muslim world.

Moreover, the Muslim world is totally dependent on others for sophisticated weapons and defence.

1.2 The Economic weakness of the Muslim World suggested solution

The total reserves of the Muslim world towards the end of 1976 amounted to about 55 billion dollars or 22 % of the total world reserves. If only 10 % of these reserves were to be deposited with the Islamic Fund, it would be able to provide assistance to deficit Muslim countries. At present the economic cooperation among Muslim states is almost non-existent.