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Revolutionizing the Islamic Finance: The limitations of AI on issuing Fatwas

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Artificial intelligence (AI) has made strides in several industries, including education and finance, in recent times. The integration of AI in the Financial sector has brought about advancements in terms of efficiency, accuracy, and speed. Within the realm of Islamic finance, which is guided by Sharia principles and pristine ethical considerations, AI has the potential …

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Evolution and Development of Central Bank Digital Currencies: Benefits and Challenges

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Central Bank Digital Currencies are fiat currencies issued and backed by a country’s central bank as a new model of finance for the digital economy. In recent decades, globally, this idea is becoming prominent as central banks and governments explore the possibilities of issuing their own currencies despite its potential challenges and benefits. Nevertheless, it …

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Rethinking The Islamic Finance Philosophy – An Introduction

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The advent of Islamic finance in its modern form, which began in the early 1960s, aroused euphoria in the Muslim world and brought high hopes of seeing a “Madinahesque” system. Muslims envisaged that the new system would guarantee seamlessness of their financial dealings whilst having no sense of guilt emanating because of riba consumption or …

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