AI liability in Islamic banking: navigating AI failure through Sharia principles

Key Points

• The aim is to explore how Sharia principles can guide AI liability in Islamic banking and manage AI failures.
• Review of existing literature on AI and Islamic banking.
• Analysis of Sharia principles relevant to technology and liability.
• Case studies highlighting AI failures in financial institutions.
• Identification of key Sharia principles applicable to AI liability.
• Recommendations for Islamic banking institutions to address AI risks effectively.
• Insights into the ethical considerations of integrating AI within Islamic finance.