Economic Restructuring of OIC Nations by New Policy Instruments

OIC countries are going through a major transition triggered by the Arab Spring phenomena. This reflects the growing demand among the masses of these fifty seven countries for justice, equity, and greater fairness in the distribution of economic resources. The future security, peace, and stability of these nations depend on how this demand is met and people’s Islamic aspirations are satisfied. Existing public policy instruments that have traditionally been deployed in these countries have not been adequate in addressing the needs of a divergent and growing population. There is an urgent need to develop and utilize new policy instruments to bring about structural changes that are needed in the society. These public policy instruments are required in the regulatory as well as capacity building fields to create social, economic, and political transformation that will have a long term stabilizing influence on the prosperity and well being of the people. Most OIC nations have been growing e