The Role of Artificial Intelligence in Advancing Islamic Banking Operations

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Summarized Fatawaa

I`m married to an American citizen who used to be married to a man in Mexico and filed for divorce there. It is worth pointing that in America she isn`t registered as married. When she arrived in Jordan, her lawyer called and told her that she got the divorce, and based on this we got married in Jordan. What is the ruling of Sharia on this?

All perfect praise be to Allah the Lord of The Worlds. May His blessings and peace be upon our Prophet Mohammad and upon all his family and companions.

You haven`t mentioned whether this woman has converted to Islam or not. If she had embraced Islam and three menstrual cycles passed, but her first husband hasn`t converted to Islam, then her relationship with him is over. If you married her after this (Passing of three menstrual cycles and first husband not having embraced Islam) then your marriage is valid. However, if she didn`t convert to Islam then your marriage contract with her is invalid and you have to wait until she gets divorced by her first husband and observes Iddah, which is three menstrual cycles. Afterwards, you can conclude the marriage contract. We pray that Allah doesn`t hold you to account for what you have done because you thought she was divorced. We recommend that you seek Allah`s forgiveness as much as you can and do righteous deeds. We also advise you to marry a Muslim woman to preserve your and your children`s religion since Almighty Allah Says (What means): "Wed not idolatresses till they believe…" [Al-Baqarah/ 221]. It is true that marrying a Kitabi (One who believes in a book of sacred scriptures and with whom a Muslim may marry in what is deemed a lawful marriage) is permissible, it involves great risks, as stated in the aforementioned verse. And Allah The Almighty Knows Best.

What should a person, who delayed making up missed fasts of last Ramadhaan due to the continuance of the same excuse, do?

It is permissible for one, whose excuse for not making up missed fasts of last Ramadhaan has continued, to delay fasting until the excuse ceases to exist, and he is considered neither sinful, nor obligated to pay a ransom.

Is it permissible for a person who is in a state of Janabah(Ritual impurity) to clip his nails, or to cut his hair?

It is permissible for those in a state of Janabah and menstruation to clip their nails and to shave whatever hair that is permissible to be shaved.

There is a job opportunity in the Nuns Hospital. Is it allowed for me to take this job given the difficult living conditions and the high rate of unemployment?

All perfect praise be to Allah, The Lord of The Worlds, and may His Peace and Blessings be upon our Prophet Muhammad and upon all of his family and companions.

If your work is lawful and has no effect on your beliefs, then there is no sin on you and do your best to represent the true face of Islam. And Allah The Almighty Knows Best.

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The Role of Artificial Intelligence in Advancing Islamic Banking Operations

Author : Dr. Safwan Odaybat

Date Added : 03-01-2024

The Role of Artificial Intelligence in Advancing Islamic Banking Operations

All perfect praise be to Allah the Lord of the Worlds. May His peace and blessings be upon our Prophet Mohammad and upon all his family and companions.

One of the emerging topics for which seminars and conferences are held, and attracts researchers to study and explore its potential developments across various fields and disciplines is the subject of Artificial Intelligence. This topic elicits concerns about its potentially destructive impacts on one hand, while on the other hand, it raises hopes and expectations for significant positive effects on improving the quality of life and serving humanity.

Before delving into explaining the impact of Artificial Intelligence on Islamic banking, it is essential to clarify the meaning of Artificial Intelligence and Islamic banking:

Artificial Intelligence can be defined as a set of technologies and software aimed at enabling computer systems to perform tasks that are typically considered important for human intelligence and facilitate operations associated with specific tasks.

Artificial Intelligence relies on data and algorithms to achieve specific objectives. Its applications encompass a diverse range of fields such as machine learning, natural language processing, robotics manufacturing, medical diagnosis, risk management, and more.

Islamic banking can be defined as a financial system based on the principles of Islamic law (Sharia). This system requires abstaining from practices such as usury (interest), uncertainty or speculation (Gharar), and injustice. It encourages financing and investment in ways that are in tune with Islamic values and principles.

The role of artificial intelligence in advancing the operations and services of Islamic banking is highlighted through the following:

1-Enhancing Efficiency and Risk Management:

Artificial intelligence can contribute to the development of Islamic banking by improving its operational efficiency through enhancing analysis processes and risk management. One possible means to achieve this is by utilizing machine learning to enhance credit assessment, identifying potential loans with greater accuracy and efficiency. Additionally, artificial intelligence will contribute to boosting employee efficiency by selecting suitable development, training, and educational methods tailored to their needs.

2-Development of Innovative Financial Products:

Artificial intelligence enables Islamic banking to develop innovative financial products that align with the principles of Islamic Sharia. For example, smart investment solutions can be developed based on financial analytics and Sharia-compliant guidelines.

3-Enhancement of Customer Experience:

Artificial intelligence can improve customer experiences in Islamic banking by providing personalized financial services tailored to the specific needs of customers. It can offer accurate investment guidance that aligns with customers' goals without conflicting with Islamic values.

4-Combatting Money Laundering and Terrorism Financing:

Artificial intelligence can contribute to enhancing financial integrity through intelligent operations that develop and improve the quality of monitoring financial transactions. Consequently, it can uncover all illicit and internationally prohibited activities, including money laundering and terrorism financing.

5-Facilitating Compliance with Islamic Sharia:

Artificial intelligence contributes to the development of Islamic banking by achieving better compliance with the rules of Sharia. This can be accomplished by providing guidance to financial professionals or by enhancing financial audit and monitoring processes.

In conclusion, the topic of the impact of artificial intelligence on Islamic banking in general requires precise scientific studies and research to highlight both the positive aspects and potential challenges. While artificial intelligence may contribute to enhancing the efficiency of financial services and their compliance with Sharia, ethical considerations and Islamic values must be taken into account in the application of this modern technological advancement.

Article References:

1-Book: "Artificial Intelligence and Its Impact on the Economy and Islamic Banking" by Dr. Rafiq Ali Suleiman.

2-Book: "Islamic Banking and Artificial Intelligence Technology: Challenges and Opportunities" by Dr. Mohammed Al Nuaimi.

3-Research Paper: "Artificial Intelligence Technology and Its Impact on Islamic Financial Services" by Researcher Ahmed Abdullah Al Salman.

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Summarized Fatawaa

Is it permissible to offer the Eid sacrifice in a non-Muslim country?

Eid sacrifice is permissible anywhere, and Islamic Sharia hasn`t determined that it should be in an Islamic country, but poor Muslims should be given a share in order for it to be valid since it is an act of worship. A portion of that Eid sacrifice should be given at least to one poor Muslim, and if that wasn`t possible then the one offering it should consume it along with his family.

Is it permissible for a woman to uncover her face while performing Umrah(minor Hajj)?

The woman who is in a state of Ihram(ritual consecration) should uncover her face and hands, but it is permissible for her to let her head-covering garment drape from her head down over her face when non-Mahram (i.e., marriageable) men pass by her.

What is the ruling on reciting verses of the Holy Quran on water, then drinking it?

It is permissible to recite Quran on water, then drink it as a kind of treatment since the Quran heals. Allah, The Almighty, says:” We send down (stage by stage) in the Qur’an that which is a healing and a mercy to those who believe: to the unjust it causes nothing but loss after loss.”{Al-Isra`/82}.

I have concluded my marriage contract at a Sharia court; however, one day I was talking to my fiancée over the phone and she got on my nerves leading me to utter one divorce. This is knowing that I can`t tell my her father because he is very strict and will not accept that at all. What is the best course of action that I should pursue in this situation?

All perfect praise be to Allah the Lord of the Worlds. May His peace and blessings be upon Prophet Mohammad and upon all his family and companions.

When divorce takes place before the consummation of marriage it is called Ba`in divorce (Minor irrevocable divoce), so your wife is considered unlawful to you until you conduct a new marriage contract and pay Mahr , and you should visit the Iftaa` Department in order to know the correct Fatwa. And Allah The Almighty Knows Best.

[1] Minor irrevocable divorce [Ar.Talaq al-Ba'in Binona Soghra]: It is a divorce where the husband cannot take his ex-wife back unless with her consent, conducting a new marriage contract and paying new bridal wealth [Ar.Mahr].

[1] In Islam, a Mahr is the obligation, in the form of money or possessions paid by the groom, to the bride at the time of Islamic marriage. While the Mahr is often money, it can also be anything agreed upon by the bride such as jewelry, home goods, furniture, a dwelling or some land.