I am going to take a considerable risk here and employ an airplane simile to illustrate how I think of our past policy actions and where we are going. When an airplane is taking off, the pilot fires the engines as much as possible to get off the ground. The goal is to get to cruising altitude quickly, so the initial ascent is steep.
The Sharia-compliant mortgage is a product that is not subject to the vagaries of interest rate volatility and as such this instrument is found to be the most appealing to bank customers. Having said that let me give a very broad brush-stroke of recent trends in Islamic banking.