An Overview of Arabian Economies

  • Philip Molyneux
  • Munawar Iqbal
Part of the Palgrave Macmillan Studies in Banking and Financial Institutions book series (SBFI)


This chapter provides an overview of the main socio-economic features of Arabian countries over the last twenty years or so. The aim is to describe the nature of economic development that has taken place in the region as well highlighting the various broad financial sector developments and other reforms that have taken place. The Arabic region comprises 21 countries whose people speak the Arabic language and these countries can be classified economically into oil- and non-oil-exporting countries. Many Arabian blocs have appeared over the past years. These blocs share similar objectives; integrating and enforcing the economic and cultural ties between member countries. These blocs include the Council of Arab Economic Unity, the Arab Maghreb Union, the Gulf Cooperation Council (GCC) and the Council of Arab Mashreq countries.


Financial System Saudi Arabia World Trade Organization Arabian Country United Nations Development Programme 
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Copyright information

© Philip Molyneux and Munawar Iqbal 2005

Authors and Affiliations

  • Philip Molyneux
    • 1
  • Munawar Iqbal
    • 2
  1. 1.University of Wales BangorUK
  2. 2.Islamic Banking and Finance DivisionIslamic Research and Training Institute, Islamic Development BankJeddahSaudi Arabia

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