in category Economics

How much wealth does the ummah have?

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The Muslim lands posses 74% of the Worlds oil reserves, more than the rest of the world combined

It possesses 54% of the worlds Gas reserves, has $1 trillion in Gold reserves and a 4.7 million standing army. All of this makes it possible for the Khilafah to field an advanced military and have a strong manufacturing base.

The Muslim Ummah collectively possesses over 700 billion barrels of oil and half of the world's gas. Both the worlds key energy sources. It is for this reason the Muslim countries produce half of the world's daily oil requirement and 30% of the world's gas needs. Alongside this Saudi Arabia posses the worlds largest oil field, whilst Qatar and Iran posses the worlds largest gas field.

The Ummah globally number 1.6 billion, more importantly over 60% of the Ummah is below the age of 28. The importance of a large population is critical for domestic economic development and defence. This large pool of labour means the nation can be constructed at a faster pace rather than taking decades before it was able to become self sufficient.

Alongside this the Ummah will inherit many advantages. The geographical distribution of the Ummah and the Muslim lands means some of the world's key strategic waterways and airspace will be in the hands of the Muslims. 40% of the world's oil passes through the Straits of Hormuz waterway that straddles between the Gulf of Oman in the southeast and the Persian Gulf in the southwest. This fact alone makes it the most important waterway in the world. The Suez Canal that passes through Egypt is considered one of the world's most important waterways as it links Asian markets to the Mediterranean and Europe. 7.5% of global sea trade transits the canal. Similarly Muhammad (saw) ensured that key trade routes in the Hijaz were under Islamic control, which severely weakened the enemies of Islam to manoeuvre and weaken the Ummah.

Whilst many in the Ummah live in severe poverty, this by no means is due to the absence of agriculture in the Muslim lands. In fact, with the right polices the Khilafah can become the world's bread basket. Egyptian agriculture takes place in some 6 million acres of fertile soil in the Nile Valley and Delta, It has made Egypt amongst the worlds largest agricultural producers and is the worlds largest producer of dates, second largest producer of geese meat and the worlds third largest producer of buffalo and camel meat. Pakistan not only irrigates more land than the whole of Europe combined, but Pakistan is also the 2nd largest producer of chickpeas, buffalo meat and milk, the 4th largest producer of apricot, cotton, goat's milk and mangos and the 5th largest producer of onion and sugar cane. At the same time Turkey is the world's largest producer of hazelnut, fig, apricot, cherry and pomegranate. The Ummah should be the worlds bread basket. But due to short term policy making and corruption, even with such strengths the Ummah languishes in poverty.

The Muslim lands also posses the world's largest aluminium smelter in Bahrain, critical for industrialisation, the worlds largest open pit Gold Mine in Uzbekistan's Qizilqum Desert, the worlds largest aluminium plant in Tajikistan, the world largest coal field in the Thar dessert in Pakistan and the worlds largest producer of tin in Indonesia.

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