WikiLeaks bares US concern over London as rival financial hub

Islamic finance made its debut in WikiLeaks last week when the whistleblower par excellence passed on a diplomatic cable dispatch to The Telegraph, sent by Robert Holmes Tuttle, the then US ambassador to the Court of St. James in London, to his bosses at the State Department and the US Treasury, outlining the UK government’s policy on Islamic finance and warned that London is getting the competitive edge on Wall Street as the international financial center because it has actively sought to promote itself as a global hub for Islamic finance, investment and trade.