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The role of artificial intelligence in shaping Islamic finance services

Author

Listed:
  • Zeyneb GUELLIL

    (Abou Bakr Belkaid Tlemcen University, Faculty of Economics, Business and Commerce)

  • Sarah BOURI

    (Higher School of Management – Tlemcen-Algeria)

Abstract

The role of artificial intelligence in shaping Islamic finance services reflects a fusion of modern technology and Islamic principles, offering innovative opportunities to enhance financial services in ways that are compatible with Islamic law. This research paper aims to study the role of artificial intelligence in shaping Islamic finance services by addressing key theoretical literature related to artificial intelligence and Islamic finance and examining their relationship. Using a descriptive-analytical approach, the paper reviews current and future applications of artificial intelligence in financial services, as well as the major challenges in applying artificial intelligence in Islamic finance. The study concludes that artificial intelligence can enhance innovation in the Islamic finance sector by providing advanced and innovative solutions that better meet customer needs.

Suggested Citation

  • Zeyneb GUELLIL & Sarah BOURI, 2024. "The role of artificial intelligence in shaping Islamic finance services," Management Intercultural, Romanian Foundation for Business Intelligence, Editorial Department, issue 53, pages 53-61, December.
    • Handle: RePEc:cmj:interc:y:2024:i:53:p:53-61
    DOI: 10.70147/m535361
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    References listed on IDEAS

    as
    1. Davenport, Thomas H., 2018. "The AI Advantage: How to Put the Artificial Intelligence Revolution to Work," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262039176, December.
    2. Mahmoud Ali Aleraig & Mehmet Asutay, 2023. "Islamic Accounting Applications of Islamic Finance," World Scientific Book Chapters, in: Khaled Hussainey & Hidaya Al Lawati (ed.), Islamic Accounting and Finance A Handbook, chapter 1, pages 3-41, World Scientific Publishing Co. Pte. Ltd..
    3. Mohamed Al Hammadi & Juan Antonio Jimber-Del Río & María Salomé Ochoa-Rico & Orlando Arencibia Montero & Arnaldo Vergara-Romero, 2024. "Risk Management in Islamic Banking: The Impact of Financial Technologies through Empirical Insights from the UAE," Risks, MDPI, vol. 12(2), pages 1-15, January.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Artificial Intelligence; Islamic Finance;

    JEL classification:

    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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