Data And Sources For MENA Islamic Banks, Central Banks and Oil

 

MENA COUNTRIES(MENA is Middle East and North Africa) 

 

 

Middle East

BANKING PROFILE OIL TRAINING ACTIVISTS, ETC.  (DEMOCRACY AND GOVERNANCE) For 2006 -2008   (last year available)U.S Government ——————à| <——-Soros
Central Bank controlled  by their govern-ment Financial Center for Islamic Finance Number of Islamic Financial Institu-tions9(banks + mortgage etc) Market Share of Islamic Financial Institu- tions Oil Bourse-market not selling oil in US$ Reserves Of Oil182007(millions of barrels) USAID +State GJD + NED2006-2008 (millions  of $)15 Population In 200816(millions) (USAID + State GJD + NED)  dollars per 1000 people MEPI –  regional projects, not by country (U.S. + Soros) Open Society Institute(Soros – $ by country not avail-able)
Bahrain       yes6 40 10%11        125 $ 0.6M 1.1M $550 Yes Na
Egypt 3   7%12     3 700 $ 156M 74.2M $2100 yes Na
Iran      yes1,2       yes7 16 100%7      X 136 000 $ 38M 31M $1230 $7M20 X
Iraq until20043 2  na 115 000 $1638M 31M17 $52840 na Na
Jordan 7 10%12        1.0 $55M** 5.9M $9320 yes Na
Kuwait 78 32%11 102 000 $ 0.2M 3.4M $60 yes Na
Lebanon 6  na            0 $ 48M 4.0M $12000 yes Na
Qatar 20 22%11   15 000 $0 0.8M17 $0 yes Na
SaudiArabia 38 37%11 262 000 $ 2M 24.8M $80 yes Na
Syria      yes5 6   1%12     2 500 $ 7.5M 19.6M $380 $5M20 Na
Turkey 5   7%13        300 $ 5.5M 74M17 $70 yes Na
UAE 43 17%11   98 000 $0 5M17 $0 yes Na
Yemen 4 31%14     3 000 $ 8M 24.3M $330 yes Na
TOTAL FOR MID EAST         2       2 268 na      1 737 600 $321 without Iraq 299M $1070 without Iraq na Na
North Africa
Algeria 2 15%10   12 000 $2M 34.6M $58 yes Na
Libya     yes4 0   0% 42000 $ 0.6M 7.3M $82 yes Na
Morocco 112   1%12            1 $ 22M 32.6M $670 yes Na
Sudan     yes 30  na     5 000 $ 171M 38.2M $4480 yes Na
Tunisia        yes8 3   1%12        400 $ 1.1 M 10.3M $110 Yes Na
TOTAL FOR N. AFRICA        1       1 36 na      0   59 400 $197M 123M $1600 na
TOTAL FOR MENA REGION         4         3 304  na 797 000 $518M $422M $1230 $110M19 $90M***

·          Reserve Life = reserves divided by annual production

** includes similar projects from the Millenium Challenge Corporation

***    an estimate based on information on the OSI website –expenditures by country are not available

 

1.     Clarke, Alison; and Paul Kohler.  Property law: commentary and materials. Cambridge University Press. 2005. p 40.

2.     U.S. Department of the Treasury. , Iran: What You Need To Know About US Economic Sanctions, 2010.  Appendix A:  Banks Owned Or Controlled By The Government Of Iran, p 3.

3.     Central Bank (in name only) of Iraq website.

4.     Central Bank (in name only) of Libya website

5.     “The Council on Money and Credit established monetary policy and supervised banking, subject to review by a ministerial committee responsible for the whole economy. The general philosophy was that the banking system should be an agent of government economic policy. Direct controls were used more often than indirect ones; credit, for example, was regulated by setting limits for each sector and each bank.”   Library of Congress, Country Studies: Syria (1987)

6.     Bahrain Financial Harbor  and Gulf Finance House

7.     Dar, Humayon.  Islamic Banking In Iran and SudanBusiness Asia.  June 27, 2010.   “. . .[Iran has] some of the largest Islamic banks in the world. For example, Bank Melli Iran is the largest Islamic bank in the world in terms of assets under management (AUM). It has over US$ 59 billion under management, with 3,300 branches and over 43,000 employees. … Given this prime role played by Iranian Islamic banking in the global context …”

8.     Tunis Financial Harbour

9.     Samy Nathan Garas, Chris Pierce, (2010) “Shari’a supervision of Islamic financial institutions”, Journal of Financial Regulation and Compliance, Vol. 18 Iss: 4, pp.386 – 407, Table AI. (Except for Morocco, see 12).

10.   Bourihane, Nouria.   La finance islamique se répand en Algérie.  Le Temps d’Algerie.  06-11-2010

11.   Standard and Poor’s.  Islamic Finance Outlook 2010

12.   The World Bank.  Symposium on Islamic Finance in Roma: Developments in MENA region

13.   Turkey: A Special Dynamic To Islamic Banking. Islamic Finance Asia. July/August 2010.

14.    Yemen: Islamic banks account for 31 % of assets in Yemeni banking.  Yemen Observer.  Apr 16 2009

15.   United States Government Accountability Office.  Report to Congressional Committees.  Democracy Assistance  Sept 2009

16.   Arab Monetary Fund, Statistical Bulletin of Arab Counties, 2010  (unless otherwise footnoted)

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