Beyond Fintech: Technology Applications For The Islamic Economy

Half Title Page
Title Page
Copyright Page
Contents
Advanced Praises
Foreword
Chapter 1: Introduction
	Contents
	1. The Explosion of Big Data
		1.1. Types of Data
		1.2. Architecture and Technologies
		1.3. Big Data Analytics and Cloud Computing
	2. The Economics of Big Data and Data Science
	3. Digital Adoption and Policy Development
	4. Technology as a Moral Agent
	5. Structure of the Book
	Bibliography
Chapter 2: An AI-Driven and Blockchain-Based Islamic Capital Market
	Contents
	1. Trends of the Digital Economy
		1.1. Cloud-based (IoT Infrastructure)
		1.2. Clearing Trades and Settlement Transactions
		1.3. Widespread Use of Artificial Intelligence (AI) and Blockchain
		1.4. Governance and Regulatory Controls
	2. Blockchain-based Islamic Capital Markets
		2.1. Blockchain as Clearing and Settlement of Securities Transactions
		2.2. Reduction of Fraud
		2.3. Know Your Customer (KYC)
	3. Applications of the Blockchain to Capital Markets
		3.1. Securities Transaction
		3.2. Asset Servicing and Treasury Operations
		3.3. Derivative Transaction
		3.4. Post-trade Processing
		3.5. Finance, Audit, Reporting
		3.6. Securities Issuance
	4. AI Use Cases for the Islamic Capital Market
	5. Challenges in Market Adoption
		5.1. Other Challenges on Moving Ahead
	6. Conclusion
	Bibliography
Chapter 3: Digital Sukuk Issuance for Business Financing
	Contents
	1. Introduction
	2. Types of Alternative SME Financing Available Globally
		2.1. Recent Trends on Non-Traditional SME Financing in Asia Pacific
	3. Blockchain-based Sukuk (Decentralized Asset-backed Bond)
		3.1. AI-enhanced and Blockchain-based Sukuk Structure
		3.2. Commercial Considerations
		3.3. Sukuk (Debt Capital Market) versus Loan Market
		3.4. Benefits of BC Sukuk/Trust Certificate Issuance
	4. Conclusion
	Appendix A
	Appendix B
	Bibliography
Chapter 4: Smart Islamic Asset and Wealth Management
	Contents
	1. Explosive Artificial Intelligence (AI) Growth Around the World
	2. AI Applications in Asset Management
		2.1. Personalisation of Services
		2.2. Portfolio Management
		2.3. Chatbots and Robo-Advisory
		2.4. Financial Prediction
		2.5. Algorithm Trading
	3. Blockchain Applications in Asset Management
		3.1. Client Onboarding Process
		3.2. Management of Model Portfolios
		3.3. Trade Clearing and Settlement
		3.4. Regulatory Compliance to Shariah Observance
	4. Openness to Adoption and Regulations
	5. Conclusion
	Bibliography
Chapter 5: Digitalized Takāful Claims Processing
	Contents
	1. Introduction
		1.1. Market Size and Segments of the Takāful (Islamic Insurance) Business
	2. Blockchain-based Takāful
		2.1. Fraud Detection and Risk Mitigation
		2.2. Claims Processing and Management
		2.3. New Distribution and Payment Models
		2.4. Reinsurance
	3. Enhanced Claims Processing and Management
	4. Benefits of Blockchainized Intelligent Takāful Claims System
	5. Moving Forward
	6. Conclusion
	Bibliography
Chapter 6: Digitizing Medical Records and Healthcare Management
	Contents
	1. Introduction
	2. Benefits of Digitalized Processes for Medical Records-keeping
	3. Utilizing Technology for Medical Records-keeping
	4. Record Management System
		4.1. Privacy Preserving Systems and Data Exchange
	5. Mobile Application Architecture
	6. EHR in the Context of National Healthcare Policy
	7. Conclusion
	Bibliography
Chapter 7: Rethinking Supply Chain Management Through New Digital Applications
	Content
	1. Introduction
		1.1. AI on the Blockchain: Decentralized Intelligence?
		1.2. The Internet of Things (IoT) and Decentralized Intelligence (AI + Blockchain)
	2. What is a Truly Halal Supply Chain?
	3. Digitalized Halal Supply Chain Management
		3.1. Buyer and Supplier Onboarding Process
		3.2. Fleet Management
		3.3. Warehousing and Distribution
		3.4. Real-time Monitoring and Tracking
		3.5. Financing and Payments of Trades
		3.6. Food Trust and Supply Integrity
		3.7. Interoperability of Information and Systems
	4. Energy Consumption and Efficiency Costs
	5. Challenges to Adoption
	6. Conclusion
	Bibliography
Chapter 8: Smart Manufacturing and The Factory of The Future
	Contents
	1. Introduction
	2. Understanding the Future of Manufacturing
		2.1. History of Manufacturing
		2.2. Evolution of Manufacturing
	3. Manufacturing in the Digital Era
		3.1. AI, IoT, and Machine Learning = Digital Twin
		3.2. Emergence of Cyber-Physical Systems
	4. Shifts in Manufacturing Practices
		4.1. Manufacturing Operations
		4.2. Lean Production Principles
		4.3. Modelling Prototypes and Builds
		4.4. IIoT and Manufacturing Analytics
		4.5. Value Chain to Value Network
	5. Data Security
	6. Sustainable Innovation and Workforce of the Future
	7. Conclusion
	Bibliography
Chapter 9: Central Bank Digital Currency (CBDC) Formats and Their Implications
	Contents
	1. Introduction
	2. The Possible Scenarios and Formats for the CBDC Regime
	3. CBDC as a Sovereign Currency (similar to Cash/Fiat)
		3.1. Impact
		3.2. Consequences
		3.3. Adoption Assessment
	4. CBDC as Public Deposit in Central Bank
		4.1. Impact
		4.2. Consequences
		4.3. Adoption Assessment
	5. CBDC as a Monetary Policy Tool
		5.1. Impact
		5.2. Consequences
		5.3. Adoption Assessment
	6. CBDC for Interbank Settlement
		6.1. Impact
		6.2. Consequences
		6.3. Adoption Assessment
	7. Countercyclical Measures and Fiscal Policy Interactions with CBDC
	8. Analysis and Recommendations
	9. Conclusion
	Acknowledgment
	Bibliography
Chapter 10: Modernizing Fara’id, Waqf, and Zakat
	Contents
	1. Introduction
		1.1. Shariah Basis for Fara’id, Waqf, and Zakat
	2. Utilizing Technology for Fara’id, Waqf, and Zakat
		2.1. Digitalized Fara’id Systems
		2.2. Digitalized Waqf Systems
		2.3. Digitalized Zakat Systems
	3. Benefits of Digitalized Processes for Islamic Social Systems
	4. Bringing Traditional Islamic Social Institutions into the Future of Global Aid
	5. Conclusion
	Bibliography
Chapter 11: Enhancing Legal and Regulatory Framework for Digital Transformation
	Contents
	1. Introduction
	2. Digital Transformation in the New Economy
	3. Regulatory Issues Concerning Disruptive Technology
		3.1. Regulation and Supervision
		3.2. Financial Stability and Consumer Protection
		3.3. Domestic and Cross-Border Arrangements
		3.4. Expertise and Capacity Building
	4. RegTech and SupTech ― Digital Reporting and Compliance
		4.1. Cybersecurity
		4.2. Institution-specific Micro-financial Risks
		4.3. System-wide Macroprudential Policy for Financial Stability
		4.4. Shariah Compliance
	5. The SupTech Trajectory
		5.1. Cooperation and Mutual Learning
		5.2. Updating the Regulatory Toolkit
		5.3. Improving Regulations and Responding to Market Evolution
	6. Conclusion
	Bibliography
Chapter 12: Managing Regulatory Change for Financial Institutions
	Contents
	1. Introduction
	2. Regulatory Reforms and the Evolving Financial Landscape
	3. RegTech ― Digital Reporting, Audit and Compliance
		3.1. Regulatory Priorities by Region
		3.2. Shariah Audit, Compliance and Monitoring
	4. Managing Regulatory Change
		4.1. Keeping Track of Regulatory Changes
		4.2. Establishing Clear Objectives and Goals
		4.3. Developing a Regulatory Adaptation AI-driven Model
	5. Conclusion
	Bibliography
Index