Monday, December 21, 2009

The Gap between 50 Richest and 140 million Poorest Arabs

The list shows that the average fortune of the top 50 has risen to $4.14bn. In total, the top 50 now hold between them $207bn – a rise of almost four percent on last year.

The world's fifty richest Arab businessmen and woman are worth $207bn, which is an incredible figure, even before you consider that somehow or other they have contrived to squeeze an extra $4.5bn (on last year's figure) out of the last twelve months - a time which historians will one day refer to as the decade when capitalism broke.

And compare the gap between these 50 richest Arabs with millions other Arabs living under poverty, which is on average reaching 40% of total Arab population.

Wondering if these richest Arabs pay their zakats, would the poors benefit?

140 million Arabs live in poverty: UN

CAIRO - Nearly 140 million Arabs live below the poverty line, according to a report published Sunday by the United Nations Development Program and the Arab League.
The joint report stressed “there has been no decrease in the rates of poverty in the Arab region over the past 20 years,” with some countries actually showing an increase. “Overall poverty remains high, reaching up to 40 percent on average, which means that nearly 140 million Arabs continue to live under the upper poverty line.”

The document entitled “Development Challenges for the Arab Region: A Human Development Approach” also indicated youth unemployment was “the highest in the world” in Arab countries.
“The proportion of young people of the total unemployed population is more than 50 percent for most Arab countries,” it said.

The challenge for Arab countries was to provide “51 million new jobs over the next 10 years,” which would not reduce unemployment but “contribute to preventing its increase and maintaining it at current levels until 2020.”

The report was drafted ahead of a world summit in September next year to mark the tenth anniversary of the adoption of the Millennium Goals when world leaders pledged to reduce poverty and hunger by half by 2015

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