Islamic Economic Area

EENI- School of International Business

Module Module: Economic Area of the Islamic Civilisation (or Muslim). Syllabus:

The module: “The Economic Area of the Islamic Civilisation” consists of six parts:

  1. Islam as unifying factor of the Islamic Civilisation
    1. Introduction to Islam
    2. The Islamic Community in the World (Ummah)
    3. Islam and Business
    4. Muslim personalities
  2. The Economic Area of the Islamic Civilisation
    1. Muslims businesspeople
    2. Major economic institutions of the Islamic Civilisation
    3. Arab Economic Area
    4. Central Eurasian Economic Area
    5. Malay Economic Area
    6. Maghrebian Economic Area
    7. African Economic Area (*)
  3. Economic Integration of the Islamic Civilisation (institutions, agreements)
    1. Trade Preferential System of the Organisation of Islamic Cooperation (OIC)
    2. Integration in the Arab Area
    3. Integration in the Central Eurasian Area
    4. Integration in the Malay Area
    5. Integration in the Maghrebian Area
    6. Agreements and institutions covering all the economic areas of the Islamic Civilisation
  4. Interactions of the Islamic Civilisation with other civilisations
    1. African Civilisation
    2. Hindu Civilisation
    3. Western Civilisation
    4. Sinic Civilisation
    5. Buddhist Civilisation
    6. Orthodox Civilisation
  5. Businesspeople of the Islamic Economic Area
    1. Arabs
    2. Asiatic
    3. The Maghrebians
  6. Economic institutions related to the Islamic Civilisation

Important note: countries with Muslim majorities of Sub-Saharan Africa (with their agreements, institutions, businesspeople) are analysed in the African Civilisation module because of its growing economic integration with the rest of African economies.


The module “Economic Area of the Islamic Civilisation” is studied...
  1. Doctorates: Ethics, Religions, and Business, Islamic Countries, Asia, and Africa
  2. Masters (online): International Business, Muslim Markets, Asia, and Economic Relations

Languages of study: English or French Civilisation Islamique Portuguese Civilizações and integração Spanish Civilización Islámica

Purposes of the module “Islamic Economic Area”:

  1. To define the characteristics of the Economic Area of the Islamic Civilisation
  2. To understand the influence of Islam in the Islamic Economic Area
  3. To know the economic profile of the Muslim Countries
  4. To understand the processes of economic integration of the Islamic Civilisation
  5. To analyse the main businesspeople
  6. To explore the economic relationships of the Islamic Civilisation with other civilisations (Western, Sinic, Buddhist, Hindu, Orthodox, and African)
  7. To analyse the main economic institutions related to the Islamic Economic Area

Five Pillars of Islam

Course Subjects Subjects of the module “Economic Area of the Islamic Civilisation”

Islam as unifying factor of the Islamic Civilisation.


  1. Introduction to Islam
  2. Sunnis and Shies
  3. Five pillars of Islam
  4. Human Rights in Islam
  5. Sharia
  6. Islamic Jurisprudence (Fiqh)
  7. Principles of Islamic Economics
  8. Islamic Banking
  9. Muslim Countries
  10. Islamic Community in the World (Ummah): Africa, Asia, India, the ASEAN
  11. Muslim Personalities: Tawakkol Karman (Nobel Peace Prize), Haifa Al-Mansour, Lubna Bint Khalid Al Qasimi, Reem Ebrahim Al-Hashimi, Hayat Sindi, Hanan Al Kuwari, Hichem Djaït, and Muhammad Yunus

Major economic institutions of the Islamic Civilisation.

  1. Organisation of Islamic Cooperation (OIC) (Formed by fifty-seven Muslim countries around the world)
    1. Committee for Economic and Commercial Cooperation
    2. Islamic Centre for the Development of Trade
    3. Islamic Chamber of Commerce
    4. Economic and Social Research and Training Centre
  2. Islamic Development Bank (countries of the OIC)
  3. Arab League (formed by twenty countries in the Middle East and North Africa)

Islamic Economic Area. The economic profile of the countries of the Islamic Civilisation

From the point of view of the economic integration of the Islamic Civilisation; we can identify the following economic areas grouping thirty-two Muslim countries:

Arab Economic Area.

  1. The Arab Economic Area consists of twelve countries:
    1. Countries of the Gulf Cooperation Council (United Arab Emirates, Bahrain, Saudi Arabia, Oman, Qatar, and Kuwait)
    2. Jordan, Lebanon, Syria, Palestine, Iraq, and Yemen.
  2. The Central State is Saudi Arabia.
  3. Arab is the common language.

Central Eurasian Economic Area.

  1. The Economic Area of Central Eurasia consists of twelve countries: Azerbaijan, Albania, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan, Turkmenistan, Turkey, and Uzbekistan.
  2. Because of its economic integration with these countries, its included Bangladesh and the Maldives.
  3. It is not clear which country is the Central State; Turkey, Iran or Pakistan could be.
  4. NOTE: 170 millions of Indians are Muslims, Islam is the second religion in India. However, from the point of view of this analysis, India belongs logically to the Hindu civilisation.

Malay Economic Area.

  1. The Malay Economic Area consists of the three Muslim countries of the ASEAN (Indonesia, Malaysia, and Brunei)

Maghrebian Economic Area

  1. The Maghrebian Economic Area consists of the five countries of the Arab Maghreb Union (AMU): Morocco, Mauritania, Algeria, Tunisia, and Libya; and the Western Sahara.
  2. Culturally we could consider North Africa as part of the Islamic Civilisation (Sunnite), but from the point of view of economic integration also of the African Civilisation.
  3. Arabic and French are the main languages in the Maghreb.

African Economic Area.

  1. The African Economic Area consists of Muslim-majority African countries: Somalia, Djibouti, Niger, Senegal, Mali, Guinea, Gambia, Egypt, Sudan, Chad, Sierra Leone, Burkina Faso, Nigeria, Eritrea, and Guinea-Bissau
  2. These countries are framed within the African Civilisation due to its full integration with the rest of African countries.

Businesspeople in the Islamic Economic Area.

Arab businesspeople.

  1. HRH Prince Alwaleed Bin Talal
  2. Sulaiman Al-Rajhi
  3. Mohammed Hussein Ali Al-Amoudi
  4. Yusuf Bin Ahmed Kanoo
  5. Nasser Al Kharafi
  6. Mohammed Al-Barwani
  7. Mohamed Bin Issa Al Jaber
  8. Abdul Aziz Ghurair
  9. Majid Al Futtaim
  10. Jawad Ahmed Bukhamseen

Prince Alwaleed Bin Talal (EENI Master Honoris Causa)
EENI delivers to HRH Prince Alwaleed bin Talal a Master Honoris Causa.

Arab businesswomen.

  1. Lubna Olayan
  2. Shaikha Al Bahar
  3. Haifa Al-Mansour
  4. Amina Al Rustamani
  5. Shaikha Al Maskari
  6. Randa Ayoubi
  7. Maha Al-Ghunaim
  8. Ayah Bdeir

Asian Muslims Businesspeople

  1. Mian Muhammad Mansha
  2. Salahudin Sandiaga one
  3. Dewan Yousuf Farooqui
  4. Muhammad Abdul Mannan
  5. Tan Sri Mokhtar
  6. Salman F Rahman
  7. Islamic Revolutionary Guard and the Bonyads in Iran

Muslims Maghrebians businesspeople.

  1. Othman Benjelloun
  2. Aziz Akhannouch
  3. Ali Haddad
  4. Mohamed Hassan Bensalah
  5. Miloud Chaabi
  6. Mohamed Ali Harrath
  7. Anas Sefrioui

Summary of the module - Economic Area of the Islamic Civilisation.

Islamic Civilisation had existed since the 7th century BC when Muhammad proclaimed Islam.

Islam and the concept of the Islamic Community (the Ummah) are the unifying factors. We also observe trends towards the integration of their economies, such as the Gulf Cooperation Council as well as the growth of the Islamic Economy and Finance.

Islam is the second religion in the World by the number of followers:

  1. 1.57 billion people are Muslim
  2. 23% of the World's population practices Islam.
  3. Only 15% of Muslims are Arabs.
  4. 20% live in the MENA region (the Middle East and North Africa)
  5. 62% of the World's Muslim population lives in Asia
  6. Furthermore, 300 million Muslims live in countries where Islam is not the majority religion: China, India, and Russia

Islam, on the other hand, shares borders with all faiths in the World:

  1. With Christianity in the east and south of Europe and the entire strip of Southern African Sahel.
  2. With Hinduism in India itself, along with Zoroastrianism, Jainism, and Sikhism.
  3. With Buddhism, Confucianism, and Taoism in eastern and northern China and much of Southeast Asia
  4. With the Jews in Palestine.

Map Civilisations and integration

This central position with these religions generates strong political tensions, but it is also an opportunity for the Islamic Civilisation and the rest of the World. No other civilisation shares more borders with other religions, which may allow that Islamic Civilisation can play a unique role in inter-religious relations.

From a socio-cultural and historical view; we should consider two distinct spaces.

  1. Sunni area. With Saudi Arabia as the central state. From the point of view of economic integration within the space Sunnite we can identify four sub-areas:
    1. The Arab area, covering the Middle East countries
    2. The Malay area (Southeast Asia), formed by three countries: Indonesia, Malaysia, and Brunei Darussalam, all ASEAN members.
    3. The Turkic area (Turkey), formed by the countries of influence of the Turkic culture (Turkey, Azerbaijan, Kazakhstan, Kyrgyzstan, Turkmenistan, and Uzbekistan)
    4. The Maghrebian area: Morocco, Mauritania, Algeria, Tunisia, and Libya
    5. The African area
  2. Shiite area (Iran). Iran is the Central State of the Shiite space. The following countries have Shiite majorities: Iran (90% of the population), Iraq (65%), Azerbaijan (70%), and Bahrain (70%).
  3. Other countries with significant Shiite communities are Lebanon (30% of the population), Yemen (40%), Kuwait (30%), India, Turkey (20%), Pakistan (20%), Afghanistan (15%), and Saudi Arabia (15%)

Samples - Islamic Civilisation

Lubna Olayan Businesswoman Saudi Arabia

Doing Business in Bahrain

Sheikha Lubna Qasimi

Sulaiman Al-Rajhi Saudi Businessman

Othman Benjelloun Moroccan Businesspeople

Greater Arab Free Trade Area GAFTA

Council Gulf (Arabic)

CAREC Asia Central

Arab Maghreb Union (AMU)

Islamic Revolutionary Guard (Iran)

Fiqh (Islamic jurisprudence)

Jawad Ahmed Bukhamseen Kuwaiti Businessman

Ali Haddad Algerian Businessman

Hichem Djaït (Tunisian Historian)

Salman F Rahman Bangladeshi Businessman

Location of the Islamic Civilisation.

Civilisations and Economic Integration

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