The Role of Artificial Intelligence in Advancing Islamic Banking Operations

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Summarized Fatawaa

An engineer has to work in a circuit system of a non-Islamic bank. What is the ruling on the income she receives from doing this job?

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.

Necessity lies in fearing for one`s life, honor or mind, so the wage received for doing a forbidden job is equally forbidden. Kindly contact the Iftaa` Department to further clarify the nature of your work. And Allah The Almighty Knows Best.

Is a person who is in a state of Janabah( major ritual impurity due to having a marital intercourse, ejaculation, menstruation, and post-delivery impurities) sinful if he/she goes about his/her daily life activities in that state i.e. without making Ghusl( ritual bath ) ?

It goes without saying that a Muslim should always be in a state of ritual purity so as to be able to perform prayers and recite Quran. It is from Sunnah(Prophetic tradition) that a Muslim hastens to make Ghusl from Janabah, but he/she is not sinful in case he/she delayed that provided that he/she doesn`t miss prayers. However, it is permissible for him/her to go about their daily activities while in a state of Janabah, but had better bathe in order not to miss any prayer.

My mother inherited a share from my late father`s and brother`s property; however, the inheritance, a piece of land, wasn`t divided amongst the eligible heirs because it was hard to sell. While alive, she used say that she wanted these shares to be distributed amongst the poor and needy. What is the ruling of Sharia on this?

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.

This is a will, so we have to consider the estate she had left behind. If the piece of land, which she had willed, equals one third and less of her estate, then the will must be executed. But, if it is more than one third, then one third must be executed and the rest of the estate, if the heirs agreed, is to be executed as part of her will as well. However, if the heirs haven`t approved of that, then what remains, excluding that one third, must be divided amongst them according to the Islamic rules of inheritance. Moreover, we recommend that you pay a visit to the Iftaa` Department to make things clearer for you. And Allah The Almighty Knows Best.

Is it permissible for the doctor to uncover the hair of a female patient out of necessity?

It is only permissible for him to do so when there is no female doctor, and he should examine the patient in the presence of one of her Mahrams(unmarriageable kin).

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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

Who is “the poor” that is entitled to receive Zakah(obligatory charity)?

The poor is the one who has neither money nor a source of living, or has either of them, but it isn`t sufficient such as being in need for a hundred JDs, and having an income of forty JDs only.

A man who was on travel prayed Duhr as four Rakhas upon leaving Tafilah heading to Amman. However, on his way to Amman, he prayed Asir as two Rakhas (Shortened). Is what he did correct from an Islamic perspective?

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.

What he did is correct; he is liable for nothing before Allah The Almighty, since combining and shortening prayers during travel are two separate concessions. Therefore, it is permissible for a traveler to shorten prayer without combining it with another. And Allah The Almighty Knows Best.

What is the ruling on determining the sex of the baby whether through killing the female spermatozoa, or any other way in order to have a male?

If it is done through having a certain type of food, taking a certain type of medication, or organizing the time of the marital relation, then it is permissible.

I`m a university student. While I was sitting for an exam, the professor caught my fellow student cheating. I heard him telling her to hide the dossier. After the exam, he asked me to testify that I saw her cheating although I heard him telling her to hide the dossier but didn`t see her cheating. What is the ruling of Sharia on this?

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.

It was narrated that the Prophet (PBUH) said to a man: "Do you see the sun?" He replied: "Yes." He said: "Give witness in a similar case [which is as clear as the sun], or leave it." [Reported by Al-Baihaqhi in "Sho`ab Al-Eman" pp.10964]. Therefore, it is not permissible to testify about something that you haven`t actually seen. And Allah The Almighty Knows Best.