This paper aims to review the use cases of AI applications implemented in Islamic financial institutions across the globe to get some understanding on how AI can be applied in real business environment of providing Shariah compliant financial services. To get real industry examples, the study utilizes content analysis method in reviewing Islamic financial technology reports and related news. The findings indicate that Islamic financial institutions across the globe have incorporated AI based digital innovations in general operations. However, AI applications in the Shariah compliance aspect is still limited. A more coordinated collaboration among academics and Islamic finance industry players with respective Shariah and technology backgrounds is crucial to unleash the potential of AI applications in Shariah compliance of Islamic finance.

Decision Support System (DSS) refers to computer systems designed to help with decision making process. DSS usage are now common in both personal and commercial decision making; including those related to the Islamic faith. Simple Applications (Apps) that help with simple decisions such as to ascertain halal statuses are prevalent. To what extent can DSS facilitate more complicated Islamic decision making such as fiqh ruling, hadith classification and zakat or faraid computations? This paper aims to review DSS initiatives (academic and commercial) intended for the more complicated Islamic or Shariah decision making process and to identify the potentials and challenges especially in the contemporary ijtihad of reviewing and certifying the Shariah compliant statuses of Islamic finance products and services. It is expected that the new digital mindset created by IR 4.0, accelerated by the Covid-19 pandemic; paved the way for the huge potential of Islamic DSS; especially in the Islamic Banking and Finance industry. Artificial Intelligence (AI) technology makes it possible to represent Islamic knowledge into computer processable format to enable complex Shariah decision making. The main challenge is to get a human Shariah expert that is capable of translating his/her knowledge into computable format which leads to lack of Islamic DSS(s) in the market that can be utilized to support Shariah related decision making.

This paper addresses “the importance of selecting administrative leaders in Islamic perspective”. The leadership should be qualified in all aspects and it should possess the knowledge, wisdom and sound decision that are indispensable in various spheres of life and in all state institutions including the Islamic banking institutions. The paper focuses more on the most basic components of the selection process which can serve as a guide when choosing leaders. The researcher in this regard follows up the model of Prophet Yusuf (Pbuh) in leadership qualities which require to clarify the most important evidences that should be available in the personal candidate to take over the position or any other leadership post such as the trust and knowledge based on Quranic verses and hadiths. This emphasizes the need of proper selection of the person who holds the position of leadership. The researcher employs descriptive and inductive methods to reach the important results among which are: that the selection of any leader in all cases must be based on the selection of the most suitable person for the leadership, and that selection should be made in light of the two characteristics, namely, the trust and knowledge.