The debate is indeed there. As expert Ajaz Khan says: "Islamic finance is, generally speaking, approaching a crossroads and we have to ask ourselves which direction we will now take. It has been developed for a number of years now and it has become more and more widespread but a lot of the institutions that have adopted Islamic finance are now essentially doing an exercise in financial engineering. They look at which exact religious rules they have to obey and think that, within these rules, they can come up with anything. So they’re not really changing their philosophy and way of doing business, they’re just changing the instruments." In a nice conversation with the Halal Monk he talks more about Islamic finance and the contemporary questions surrounding it. [https://www.halalmonk.com/ajaz-ahmed-khan-sharia-compliant-finance]