As Islamic finance/banking industry is growing at a sky rocketing growth rate of 12 percent - 15 percent per annum, Kuala Lumpur, Dubai, Bahrain and London are chomping at the bit to become the center of the industry, which currently boasts some $1 trillion in assets.
For the moment, Dubai holds the title of Islamic banking hub - but it could soon lose ground, both to traditional competitors like Bahrain, Kuala Lumpur or London or newcomers on the scene like Singapore………………………………………..Full Article: Source