Attracting Middle East Investments

In recent months, Singapore leaders had visited Middle East and other parts of Asia to convince  investors that the small city state is the best place to invest their money.

The move sees Singapore following Malaysia footsteps, which for years has been encouraging Islamic finance. More recently, Dubai and even London have been building on their respective strength to attract Islamic cash.

Experts say Singapore could emerge swiftly as a strong contender because its business-savvy legislature can quickly implement necessary regulation. The former UK colony has a transparent legal system, a simple tax code and a concentration of international banks. - Source: Asia Inc.

Now, even a non-Muslim country such as Hong Kong know the advantage of the Islamic finance and have an effort to implement it, and even have the potential to become the hub of of Islamic banking.