Outcomes
• Demystify AI, blockchain, and smart contracts for Islamic finance professionals.
• Explore use cases where emerging tech supports Shari’ah-compliant finance.
• Discuss Shari’ah, ethical, and legal considerations for deploying these technologies.
• Promote collaboration between Islamic financial institutions, scholars, technologists, and regulators.
• Equip stakeholders with practical tools and frameworks to implement innovation safely and ethically.
Target Group
• Islamic banking and finance staff and executives
• Shari’ah scholars and compliance officers
• Fintech innovators and developers
• Central bank staff, policymakers and regulators
• Legal advisors, auditors, and academicians
Contents
1: Introduction to Emerging Technologies
• Introduction/Refresher "Islamic Finance at the Crossroads: Embracing AI and Blockchain for Good"
o Introduction to Blockchain Technology:
How it works, key concepts, distributed ledger, immutability
o Introduction to Artificial Intelligence and Machine Learning:
Definitions, key applications, opportunities, and risks
• Group Assignment
o Blockchain for Islamic Finance: Crafting a Transaction solution
• Interactive Discussion:
o Myths vs. Realities of AI and Blockchain in Islamic Finance
2: Smart Contracts, Shari'ah Implications, and Ethical Challenges
o Understanding Smart Contracts:
How they function, use cases in Islamic modes of financing
o Smart Sukuk, Takaful Smart Contracts, Automated Musharakah and Murabaha: Case Studies
:
• Group Discussion:
o "Can Smart Contracts Fulfill Shari’ah Requirements for Consent, Gharar, and Documentation?"
o Ethical AI in Islamic Finance:
Fairness, transparency, accountability, and bias mitigation strategies
3: Strategy Labs, Risks, and Roadmaps
o Risks and Challenges:
Cybersecurity threats, smart contract vulnerabilities, regulatory gaps
• Session 7:
o Islamic Governance Models for AI and Blockchain:
Digitial Shari’ah audit: A live Demo
• Innovation Strategy Labs:
o Participants work in groups to design a digital Islamic finance solution using AI, blockchain, and/or smart contracts
Type of Traning
AAOIFI