OIC Outlook - Archive

Since November 2007, the Centre has been preparing short outlook reports on various socio-economic development topics related to the OIC Member States. Using the Centre’s main database “BASEIND”, these reports present statistical information and analytical investigations on the topics under consideration, enriched with figures and tables. The topics of these reports include, among others, demography and structure of population, size and structure of the economy, saving and investment, structure and direction of trade, labour productivity, health, tourism, gender, food security, etc. The selected OIC Outlook Reports are also published in the Centre’s Economic Cooperation and Development Review as well as.

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Current Stance of Science and Technology in OIC Countries

Research in science and technology is of great importance and key to progress towards a knowledge-based, or an innovation-driven economy. It promotes better understanding on different aspects of life and helps to improve the standard of living by creating new knowledge and technological innovation. Today, there is severe competition among countries to become the most competitive and knowledge-based economy in the world. Gaining a comparative advantage against other countries, which is of particular importance to the OIC member countries in catching-up within this competitive world of knowledge economy, depends on how well they perform in research activities.

The Parliaments of OIC Member Countries

A parliament is defined as the supreme legislative body of a usually major political unit that is a continuing institution comprising a series of individual assemblages. The name is derived from the French “parler” which means “to talk, speak or discuss”. The term came to mean a formal conference at which a body of people meets to discuss public affairs, specifically. However, the practical meaning transformed from discussion to more of a decision-making facilitation and it acquired its modern meaning as it came to be used for the central institution through which the will of the people is expressed, laws are passed and government is held to account.

Islamic Finance in OIC Member Countries

Islamic finance is emerging as an alternative source of finance in addressing the major development challenges faced by many Organization of Islamic Cooperation (OIC) countries. The global market for Islamic financial services, as measured by the total volume of Shariah compliant assets, is estimated to have reached US$ 1.1 trillion at end-2011. OIC countries, with a collective share of 98% in these assets, continue to be the main actors in the industry’s impressive growth story.

OIC Countries & Natural Disasters: Assessment of Risks

All throughout history, natural disasters have been one of the greatest challenges against development of human societies. Many races, cultures, and civilizations were formed, evolved, or demised depending on their knowledge, technology, and capability to cope with adversities of nature. While this may seem to be history, natural or human-caused disasters are still among the serious threats to societies’ socio-economic and political development around the world, even today. Floods, storms, epidemics, earthquakes, droughts, wild fires, and many more interrupt and distort the lives of many around the world again and again, in many instances taking lives, ruining investments, and forcing major relocations. Global warming, a human-caused global-scale natural hazard, will soon, if not already, severely and irreversibly impact our civilisation and its future if no serious actions are taken in near future.

Current Stance of Energy Resources and Potential in OIC Member Countries

Energy is a key factor for economic development and, thus, rising living standards. It is required for satisfying all of the basic demands, from agriculture, education, infrastructure to information services (Sopian et al. 2011). Energy is also a key factor in economic growth, which is among the most important factors to be considered in projecting changes in world energy consumption. Despite the consensus regarding the correlation of economic growth and energy consumption, the direction of causality between these two variables is also an interest among economists and policy-makers (Eggoh et al. 2011). To consume energy, the countries should either be able to produce it or import it. It is, therefore, very important to possess energy sources as well as being able to process it.