Latest news with #11thDohaIslamicFinanceConference
Zawya
02-04-2025
- Business
- Zawya
Future of Islamic finance in light of Blockchain and AI Integration on spotlight at Doha conference
The future of Islamic finance in light of the integration of blockchain and artificial intelligence (AI) will be on the spotlight at the 11th Doha Islamic Finance Conference to be held on April 8. The conference under the theme 'Integration of Blockchain and AI: The Future of Islamic Finance' will be held under the patronage of HE the Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim al-Thani. Organised by Bait Al-Mashura Finance Consultations, the conference is supported by the official sponsorship of the Ministry of Commerce and Industry (MoCI), strategic partnership of Dukhan Bank, diamond sponsorship of General Directorate of Endowments and Islamic Affairs, and bronze sponsorship of the Qatar Financial Centre (QFC). Prof Dr Khalid bin Ibrahim al-Sulaiti, Chairman of the Organising Committee and Vice-Chairman of Bait Al-Mashura Finance Consultations, said: 'Today, the world is witnessing the trajectory of a new revolution driven by the integration of blockchain and AI, adding complexity while opening broader horizons for more efficient, transparent, flexible, and sustainable solutions. 'After decades of growth, leadership, development, and innovation, Islamic finance has established itself as one of the inspiring economic models capable of adapting to global changes. It has achieved a creative synergy between Shariah principles and financial innovation. With the emerging integration of blockchain and AI, Islamic finance stands at a historic crossroads, poised to develop a modern model for smart and sustainable Islamic finance, one that balances innovative technologies with the values of Islamic economics and enables it to compete in the digital financial world.' 'Through this 11th conference, we aim to anticipate the future of Islamic finance in light of the integration of blockchain and AI by analysing the future prospects of this technological synergy. This includes examining Shariah rulings and regulatory challenges in a rapidly evolving digital environment and fostering innovation and creativity by adopting decentralised AI-based solutions to develop Islamic financial products, particularly endowments (Awqaf). The conference uniquely addresses complex topics, such as the investment opportunities for Islamic financial institutions in the gaming and e-sports sectors and explores experiences and initiatives of decentralised Islamic finance platforms built on values that enhance security and privacy. It aims to identify the Shariah and legal frameworks for incorporating AI and blockchain in Islamic finance, support and protect the management of endowments (Awqaf) using decentralised AI, and unlock investment and innovation opportunities in Shariah-compliant decentralised digital gaming. Additionally, it seeks to develop decentralised Islamic finance platforms that ensure security, privacy, and augment value chains.' Prof Dr al-Sulaiti praised Qatar's pioneering role in the Islamic finance industry, positioning it as a global benchmark for innovation and a premier hub for Shariah-compliant financial services. He attributed this to Qatar's strategic location, the rising demand for Islamic financial services and products, a conducive operational environment, and a robust regulatory and legislative framework that supports the sector. Furthermore, he highlighted the sustained economic momentum driven by Qatar's Third National Development Strategy and Qatar National Vision 2030, underscoring the nation's commitment to economic diversification and long-term financial sustainability Talal Ahmed al-Khaja, Group Chief Communications Officer at Dukhan Bank, underscored the bank's commitment to fostering innovation in Islamic finance, fintech, and AI through its strategic partnership with the 11th Doha Islamic Finance Conference. He reaffirmed Dukhan Bank's dedication to collaborating with this prestigious and influential platform that has been shaping the trajectory of Islamic finance on a global scale since its inception in 2010, organised by Bait Al-Mashura. Hassan Abdullah al-Marzouqi, Director-General of the General Directorate of Endowments at Awqaf, Diamond Sponsor of the conference, underscored that the General Directorate of Endowments' sponsorship and participation in the 11th Doha Islamic Finance Conference reflect its commitment to fostering knowledge exchange and exploring the transformative potential of decentralised AI solutions. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (
Asharq Al-Awsat
31-03-2025
- Business
- Asharq Al-Awsat
Doha to Host Islamic Finance Conference on April 8
The 11th Doha Islamic Finance Conference on April 8 is set to explore the development of decentralized financial platforms that align with Islamic economic principles. Held under the theme 'Integration of Blockchain and AI: The Future of Islamic Finance,' the event will bring together a distinguished lineup of government entities, global organizations, and leading financial and academic institutions specializing in finance, economics, and technology. Dr. Khalid bin Ibrahim Al Sulaiti, Chairman of the Organizing Committee and Vice Chairman of Bait Al-Mashura Finance Consultations, said: 'The world is witnessing the trajectory of a new revolution driven by the integration of blockchain and AI, adding complexity while opening broader horizons for more efficient, transparent, flexible, and sustainable solutions.' He added that after decades of growth, leadership, development, and innovation, Islamic finance has established itself as one of the inspiring economic models capable of adapting to global changes and has achieved a creative synergy between Shariah principles and financial innovation. 'With the emerging integration of blockchain and AI, Islamic finance stands at a historic crossroads, poised to develop a modern model for smart and sustainable Islamic finance, one that balances innovative technologies with the values of Islamic economics and enables it to compete in the digital financial world,' Al Sulaiti noted. 'Through this 11th conference, we aim to anticipate the future of Islamic finance in light of the integration of blockchain and AI by analyzing the future prospects of this technological synergy,' he said. This includes examining Shariah rulings and regulatory challenges in a rapidly evolving digital environment and fostering innovation and creativity by adopting decentralized AI-based solutions to develop Islamic financial products, particularly endowments (Awqaf), according to Al Sulaiti. Also, he said, the conference uniquely addresses complex topics, such as the investment opportunities for Islamic financial institutions in the gaming and e-sports sectors and explores experiences and initiatives of decentralized Islamic finance platforms built on values that enhance security and privacy. Furthermore, it aims to identify the Shariah and legal frameworks for incorporating AI and blockchain in Islamic finance, support and protect the management of endowments (Awqaf) using decentralized AI, and unlock investment and innovation opportunities in Shariah-compliant decentralized digital gaming, the Vice Chairman said. The conference, he added, seeks to develop decentralized Islamic finance platforms that ensure security, privacy, and augment value chains. The event will feature discussions on major topics, including Decentralized AI: Rules and Regulations. This theme focuses on studying the impact of decentralized AI on deriving Shariah rulings and analyzing the implications for Islamic jurisprudence, particularly regarding smart contracts and issues of ambiguity (Jahala). It also explores the role of regulatory authorities in overseeing decentralized financial operations and examines the feasibility of establishing a comprehensive legal framework for integrating these technologies in Islamic financial institutions to ensure Shariah compliance, boost investor confidence, and enhance institutional efficiency. The second theme, 'the 'Endowments (Waqf) in the Era of Blockchain and AI Integration,' discusses the role of blockchain and AI in developing waqf products by reviewing existing initiatives and exploring mechanisms for utilizing decentralized AI to safeguard endowments and ensure their sustainability. It also highlights the role of these technologies in enhancing humanitarian responses to crises and disasters and delves into Shariah rulings for managing smart waqf systems. Business reports indicate a growing number of organizations seeking to integrate AI solutions into their operations, highlighting the significant impact of smart technologies on performance efficiency and revenue growth. They also show that endowments, a cornerstone of sustainable development in Islamic societies, can greatly benefit from the integration of blockchain and AI. The 3rd theme is about 'The Blockchain Gaming Revolution: Rulings and Investment Opportunities' from the perspective of Islamic finance, focusing on Shariah-compliant rulings and regulations for gaming and e-sports. It also explores the potential use of gaming for charitable purposes by analyzing real-world global examples. The electronic gaming industry is among the fastest-growing global sectors, with market projections exceeding $280 billion by 2024 and anticipated growth to $665.8 billion by 2030. The entry of AI and blockchain technologies into this field has created significant investment opportunities in decentralized gaming and digital sports. The fourth theme examines the 'Value Chains through Decentralized Finance Powered by AI' through the development of Shariah-compliant value-based investment platforms in the context of blockchain and AI integration. It reviews existing initiatives and proposes new ones to advance these platforms. Furthermore, it presents a vision for decentralized Islamic finance built on value chains and examines the role of these technologies in enhancing cybersecurity and data privacy protection. With the growing interest in decentralized finance (DeFi) as an alternative to traditional systems, decentralized AI technology amplifies its significance, unlocking broader applications. However, Islamic finance platforms in this domain remain limited and face Shariah, ethical, and legal challenges.
