American Culture Class: KSA Economy

              
                 My country Saudi Arabia is doing a good job of rising the economy but not good enough. The economy of Saudi Arabia is not growing much because it is affected by the world's economy. For example, if the stocks of the global markets are low the stocks of the same markets in Saudi Arabia is influenced. Also the global banks we have in Saudi Arabia which are run with the same system gets affected with the main banks in the western countries. However, only few Islamic banks in Saudi Arabia are managing its banks with the Islamic system that is based on no interest. In other words, when they don't use usury at all in these banks. For instance, Aljazaera, Alrajhi, Albelad and other banks are known to use the Islamic system in the whole bank or in some of its gates. Moreover, the verse in Quran says :  Those who devour usury will not stand except as stands one whom the devil by his touch has driven to madness. That is because they say: Trade is like usury: but Allah has permitted trade and forbidden usury.... Allah will deprive usury of all blessing, but will give increase for deeds of charity, for He loves not any ungrateful sinner.... O you who believe, fear Allah and give up what remains of your demand for usury, if you are indeed believers. If you do it not, take notice of war from Allah and His messenger, but if you repent you shall have your capital sums; deal not unjustly, and you shall not be dealt with unjustly. And if the debtor is in difficulty, grant him time tin it is easy for him to repay. But if you remit it by way of charity, that is best for you if you only knew. [Surah al Baqarah, verse 275-280]. In bible it is also said in : Ezekiel 22:12 ESV / 17 helpful votes In you they take bribes to shed blood; you take interest and profit and make gain of your neighbors by extortion; but me you have forgotten, declares the Lord God. Deuteronomy 23:19 ESV / 17 helpful votes “You shall not charge interest on loans to your brother, interest on money, interest on food, interest on anything that is lent for interest. 

                   Saudi Arabia is also known by some main products such as petrol and palm trees. Furthermore, tourism for Muslims in Mecca and Madina is also giving good incomes. Also tourism in some cities such as Jeddah which has a lot of malls that people around the world like to visit from every religion and country. On the other hand, we as Saudis need to work and be an independent country like Malaysia or China. Malaysia for example is known to make cars and have their own manufacturing. Also China is now the most powerful country because they depend on their own industry and trade to the whole world.