THE RACE TO BECOME THE HUB OF ISLAMIC FINANCE

Abstract

This study investigates which of London, Dubai or Kuala Lumpur is the most qualified city to become the hub of Islamic finance. Qualitative method is the methodology that going to be used in this research in order to investigate the result. Also, SWOT analysis is a useful technique to compare the Strengths, Weaknesses, Opportunities, and Threats between these three cities. The outcome of the research has shown that Kuala Lumpur is the most qualified city to become the hub of Islamic finance. It shows more strength points than London and Dubai. Also, it shows less weakness points than the other two cities. In the other hands, Dubai shows more strength, opportunity and less weakness than London. Also from the interview analysis, the experts emphasized that Kuala Lumpur is the strongest in Islamic finance. The competition between London, Dubai and Kuala Lumpur stressed that Islamic finance system become more and more strong. People have started to understand the important of this financial system and how it can improve their economic positions.