However, it has been impacted in recent years by political and social uncertainties. When you think of the wealthiest Arab country, chances are oil comes to mind right away. You are not wrong. The oil reserves found in Oman have made it one of the wealthiest countries in the world. While Bahrain is considered the fifth most prosperous country in the Arab region, it is ranked 23rd globally.
The economy of this country is thriving thanks to its exports of aluminum, tourist attractions, and natural gas and oil resources. Also, the currency used in Bahraini is the second-highest valued currency in the entire world, contributing to its ranking on this list. As you would expect, the economy of Saudi Arabia highly depends on the production and export of petroleum.
Thanks to the per capita of this country, it is the fourth most prosperous Arab country and ranked 15th in the world. Arabs are nearly twice as likely as the typical U. The proportion of U.
Arabs working in management jobs was higher than the U. Impact of Sept. It is a community that is well-rooted and well-invested in the United States. Arab-American groups say the 1. If anything, most say they are reproducing the behavior of parents and grandparents, but on a larger scale. The common pattern we observed some years back is a process in which wealthy Arabs start out by giving in fairly traditional ways—to charitable causes addressing immediate aid for the needy in their local communities—and gradually are drawn to think more strategically about solving the big problems facing the region.
Many of these individuals apply the same business acumen that brought them original financial success to leverage outsized impact from their giving. One sees an appetite for high-impact philanthropy especially among younger entrepreneurs who acquired their wealth while still in their 30s or 40s.
They are most likely to speak in terms of social investment rather than giving, and to target thorny problems like youth unemployment, urban poverty, or the lack of independent media. The Islamic institution of waqf and its Christian equivalent allow wealthy families to endow their favored causes with an asset such as land, a building, or stock shares.
All of the above, of course, are predicated on a liberal model of society in which citizens voluntarily offer their support to public-interest causes. The assumption is that private philanthropy will pick up where governments leave off—or fail to serve.
As Benthall and Bellion-Jourdan pointed out in their text The Charitable Crescent , however, philanthropy in Muslim societies has been intertwined with politics over many centuries. Whether using charitable giving to curry favor with a ruler, as happened all too often under dictatorships in Tunisia, Egypt, and Syria, or using it to bring down rulers think Osama bin Laden or the Muslim Brotherhood , philanthropy and power do not exist behind separate firewalls.
As governments around the region hunker down in the post-Arab uprisings period, one of their first steps has been to restrict the inflow of foreign private philanthropy.
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