382 chapter nine
(2) Promotion of multinational Islamic investment ventures among
Muslim countries,
(3) Promotion of Islamic banks and financial institutions and pro-
viding the necessary help for their establishment and operation,
(4) The application of an Islamic custom dues system that treats
Muslim countries favourably,
(5) Abstention from joining economic organisations with a non-
Islamic philosophy,
(6) The establishment of an Islamic Customs Union among Muslim
countries where these countries may specialise in their production
operation so as to achieve the benefits of low comparative costs
and the optimum allocation of resources among themselves,
(7) The establishment of an Islamic Central Planning Committee
that helps coordinate economic policies among Muslim countries
as well as providing the necessary help to investors and entre-
preneurs wishing to invest in an Islamic manner in these coun-
tries, and
(8) Muslim countries ought to introduce cooperation among them
based on the principle of brotherhood that is commanded in
Islam among individuals.
Needless to say, Yusri elaborates on the merits of his suggestions
with some useful insights into his recommended programme.
Discussing the same issue, economic cooperation among Muslim
countries, Zaki concentrates on the epidemic problems of Muslim
countries with an attempt to find plausible solutions (Zaki, 1980).
These are:
(1) Misallocation of wealth and income,
(2) The one-product economy,
(3) Scarcity of capital,
(4) Scarcity of skilled labour and expertise,
(5) Low technology,
(6) Lack of application of advanced technology in industry,
(7) Lack of coordinated strategic planning, and
(8) Lack of coordination among Muslim countries.
Zaki proceeded to provide recommendations on how to tackle these
problems. Better use of natural, human and financial economic
resources, speeding up the process of industrialization and agricultural
development are some examples of these recommendations (ibid.).