Artificial Intelligence (AI) and Machine Learning (ML) in Islamic and Middle Eastern Finance

Introduction

Artificial intelligence (AI) and machine learning (ML) technologies in different sectors have transformed modern business practices. In particular, the financial services industry has observed substantial revolutions by deploying various AI applications, such as Fintech, machine learning, deep learning, and generative AI. Further, these technologies offer multiple benefits, which range from process automation to enhanced forecasting and planning capabilities. Additionally, AI enables businesses to streamline operations, improve efficiency, and develop innovative solutions to complex challenges.

Islamic and Middle Eastern finance presents a unique landscape for integrating AI and ML techniques. The use of AI in Islamic finance will offer considerable possibilities for flourishing. The potential benefits of AI in Islamic finance extend beyond simply automation and process optimization. AI-driven solutions can enhance Shariah compliance and risk management practices. As such, this Special Issue will explore these multi-dimensional aspects of AI and ML adoption in Islamic and Middle Eastern Finance. The issue will investigate the implications of AI and ML adoption on Islamic financial institutions' performance and operational efficiency. The special issue will also inspect AI-driven solutions to ensure Shariah compliance in Islamic financial products and services. This special issue will offer researchers, professionals, and policymakers a multidisciplinary avenue by contributing to the evolving literature on Artificial Intelligence (AI) and Machine Learning (ML) in Islamic and Middle Eastern Finance.

List of topic areas

• The drivers of Artificial Intelligence (AI) and Machine Learning (ML) adoption in Islamic and Middle Eastern Finance.
• Impact of AI & ML Adoption on the Performance of Islamic Financial Institutions.
• AI-driven solutions for ensuring Shariah compliance in Islamic financial products and services.
• Adoption of Islamic Fintech, Blockchain and Crowdfunding in the Islamic and Middle Eastern Finance Markets.
• Risk management practices by deploying AI & ML in the Islamic financial institution for fraud and money laundering detection.
• The usage of AI & ML at different stages in the Islamic Microfinance Institutions.
• Deploying AI technologies in Islamic Financial Institutions and their Alignment with the Sustainable Development Goals (SDGs).
• Evaluating the Effectiveness of AI-driven Robo-advisory Services in Providing Shariah-compliant Investment Guidance and Financial Planning.
• Potential of AI & ML technologies in Forecasting Market Trends and Performance in Islamic Financial Markets.
• Investigating the Nexus Among Financial Technology (FinTech), Blockchain Applications and AI in Islamic Finance.
• Implementing AI & ML in the Accounting, Financial and Social Reporting of Islamic Financial Institutions.
• Adopt AI & ML technologies to ensure the environment, social and governance (ESG) practices in Islamic financial institutions.
• Impact of Digital Technologies on the Transparency and Accuracy of Corporate Governance Disclosures in the Islamic Financial Institutions.
• AI & ML Technologies to Ensure Compliance with Regulatory Requirements and Shariah Standards in Islamic Financial Institutions.

Submissions Information

Submissions are made using ScholarOne Manuscripts. Registration and access are available here.

Author guidelines must be strictly followed.

Authors should select (from the drop-down menu) the special issue title at the appropriate step in the submission process, i.e. in response to "Please select the issue you are submitting to". 

Submitted articles must not have been previously published, nor should they be under consideration for publication anywhere else, while under review for this journal.

Key deadlines

Opening date for manuscripts submissions: 1st December, 2024

Closing date for manuscripts submission: 31st May, 2025    

Email for submissions: [email protected]