Artificial Intelligence and the Future of Islamic Economics: Toward an AI-Maqashid Framework and a Shariah AI Audit for Islamic Banking
DOI:
https://doi.org/10.55927/ijsmr.v4i10.164Keywords:
Artificial Intelligence, Islamic Economics, Islamic Banking, Maqashid Al-Shariah, Shariah GovernanceAbstract
Artificial intelligence (AI) is transforming Islamic banking by enhancing data management, service delivery, risk assessment, fraud detection, and decision-making. However, AI adoption must extend beyond efficiency and accuracy to address justice, transparency, wealth protection, Shariah compliance, and public welfare. This study examines the opportunities and risks of AI in Islamic banking and develops a Shariah-aligned conceptual approach using qualitative library research and conceptual analysis of scholarly literature, regulations, governance standards, and institutional reports. The findings indicate that AI can improve operational efficiency, risk management, asset protection, and financial inclusion, while creating risks related to algorithmic bias, limited explainability, privacy, model risk, third-party dependency, and excessive automation. The study proposes an AI-Maqashid Framework integrating technological efficiency, justice, transparency, hifz al-mal, Shariah governance, human oversight, and maslahah, alongside a Shariah AI Audit covering data, bias, explainability, protection, compliance, oversight, and welfare outcomes.
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