Great that it's "Islamic" but does it make money?

That seems to be the critical question in the Islamic world at least, just as I suspected (from the Financial Times):

Islamic finance may be fashionable in international markets but it is not making much of a splash at home. Take Indonesia. Just 1 per cent of bonds issued by the world’s most populous Muslim country this year were Islamic and it boasts just $5m worth of Shariah-compliant funds.

As the report continues:

It is hard to avoid the suspicion that Islamic finance is not a huge growth driver for Asia. For one, traders grumble that the market is illiquid since the banks tend to buy and hold bonds. Meantime, much of the “new” Islamic finance appears to be cannibalising existing business.