“Personal income across the Muslim world varies substantially. With the Muslim world having as many disparate parts as a mosaic has tiles, market complexities present huge challenges. But many of these markets are simply too big to ignore. For example, there are an estimated 140 million Muslims in India, 40 million in China, 14-20 million in Russia, 10-13 million in the US and about 30 million in the European Union,” Bank Sarasin’s analysts said in the report.
Gulf Cooperation Council (GCC) countries dominate the top list with Kuwait, Bahrain, Oman and Saudi Arabia ranked fourth, fifth, sixth and seventh, respectively. Kuwait’s per capital stood at $48,900, Bahrain at $40,300, Oman at $25,600 and Saudi at $24,200, Bank Sarasin said.
According to the report, citizens of Bangladesh, Sudan and Pakistan have the lowest income among the Muslim countries. Per capital income in Bangladeshi was estimated at $1,700, Sudan at $2,300 and Pakistan at $2,500.
Calls for unified GCC regulations
Alfalah Consulting - Kuala Lumpur:
Islamic Investment Malaysia: