The six full fledged Islamic banks with a network of 108 branches and another 58 stand alone Islamic branches of 13 conventional banks have registered phenomenal growth and as of April 2007, the Islamic banking sector constituted 3.3% of total banking assets.
In Denmark, these are known as “stepped loans”, but they are the same as the teaser loans that dominated the US subprime market just before the financial crisis. BIS Review 55/2010  3  This combination of long-term uncallable loans at a rising interest rate over the term of the loan is not suitable for housing financing.