Artificial Intelligence (AI) is transforming the landscape of Islamic finance, as highlighted during the Global Islamic Finance Forum (GIFF) 2025 in Kuala Lumpur. The session, titled “Revolutionising Islamic Finance – Transformative Role of Artificial Intelligence,” brought together industry leaders to discuss AI’s potential to enhance efficiency, uphold ethical standards, and broaden financial inclusion.
Moderated by Suhaimi Ali, Assistant Governor of Bank Negara Malaysia, the panel included Chris Skinner, CEO of The Finanser; Sami Aftab Mian, CEO of Blade Labs; Dr. Qasim Nasar-Ullah, Director of Arabesque SG Pte Ltd; and Goh Peng Ooi, Founder and Group Executive Chairman of Silverlake. Suhaimi noted that Malaysian financial institutions are increasingly using AI for customer analytics and fraud prevention, stressing the importance of maintaining ethical commitments.
Chris Skinner discussed the shift towards a data-centric model, where AI facilitates real-time decision-making and financial inclusion. He emphasised the synergy between AI and blockchain in ensuring transparency: “If I invest in a green sukuk bond, I should know that the money reached the project it was meant for.”
Sami Aftab Mian highlighted AI’s role in process automation and product innovation, stating, “The goal is not to replace human roles but to elevate them.” He stressed the need for AI to be grounded in Sharia-based principles to avoid becoming a “black box.”
Dr. Qasim Nasar-Ullah pointed out the importance of transparency in AI models, referencing regulatory frameworks like the Monetary Authority of Singapore’s FEAT principles. Goh Peng Ooi underscored data integrity, likening Islamic finance principles to AI’s reinforcement learning structures.
The session concluded with a call for collaboration among regulators, innovators, and scholars to ensure AI strengthens ethical finance. “AI can only strengthen the financial system if it serves humanity and upholds trust,” Suhaimi concluded.
