The Doha Islamic Finance Conference (DIFC) has called for a comprehensive Shari’ah-compliant regulatory framework. This framework would guide the development and use of blockchain and artificial intelligence (AI) in the financial sector.
In its closing statement, the conference emphasized the importance of aligning modern technology with Islamic principles. It recommended that Islamic financial institutions, regulatory bodies, and tech professionals work together to standardize smart contracts. Additionally, the conference suggested establishing clear governance rules for AI and developing sandbox environments where new blockchain and AI applications can be tested safely.
The push for a Shari’ah-compliant regulatory framework stems from the growing role of digital tools in shaping the future of finance. DIFC believes that innovation should not come at the expense of ethical responsibility or religious values. Instead, it should create systems that support both progress and compliance.
The conference also stressed the need to examine the risks and challenges posed by decentralized finance (DeFi). Speakers urged institutions to assess how DeFi tools align—or conflict—with Islamic ethical guidelines. The goal is to bridge the gap between fast-moving innovation and the foundational values of Islamic finance.
DIFC reaffirmed that Islamic finance is not only about profit or performance. It’s rooted in an ethical approach that considers fairness, justice, and transparency. These principles should guide both centralized systems like traditional banks and decentralized systems like blockchain networks.
Organizers reiterated that embracing modern technologies is essential, but only within a balanced framework. The Shari’ah-compliant regulatory framework should support both safety and creativity, allowing room for growth while guarding against misuse or harm.
As AI and blockchain continue to transform the global financial landscape, DIFC’s recommendations serve as a roadmap for Islamic finance to evolve responsibly. By staying rooted in its ethical core, the sector can develop solutions that are both future-ready and aligned with its values.
The call for a Shari’ah-compliant regulatory framework reflects a broader vision. It aims to build financial systems that are inclusive, sustainable, and spiritually grounded in today’s digital world.
