Three of the leading four Islamic banks are based there; Bank Melli Iran, with assets of $45.5 billion came first, followed by Saudi Arabia's Al-Rajhi Bank, Bank Mellat with $39.7 billion and Bank Saderat Iran with $39.3 billion.[14][15] “Iranian banks are still the predominant Islamic banking players, holding seven out of the top 10 ranks and 12 of the 100,” the Asian Banker research group reported.[14] According to CIMB Group Holdings, Islamic finance is the fastest-growing segment of the global financial system and sales of Islamic bonds were predicted to rise by 24 percent to $25 billion in 2010.[16] Yet, most of Iran's financial resources are directed at trading, smuggling and speculation instead of production and manufacturing.[17]