A CRITICAL EVALUATION OF TECHNOLOGICAL INNOVATION AFFECTING ISLAMIC FINANCE, GOVERNANCE, AND EDUCATION IN BANGLADESH

Ebrahim Mollik, Faisal Majeed

Abstract


Technological innovation is transforming Islamic finance, government, and education worldwide; Bangladesh presents opportunities and challenges for the transformation process. The article analyses closely how blockchain, artificial intelligence, and FinTech affect Bangladeshi Islamic institutions. Although new Islamic financial products like mobile banking and blockchain payments have improved financial inclusion, their broad use is hampered by regulatory risk and Shariah compliance. In governance, transparency via blockchain and fatwa issuing by artificial intelligence guarantee efficiency but generate ethical and academic challenges on legitimacy and jurisdiction to adjudicate. Internet-based learning platforms and AI-powered tutoring in Islamic studies improve access but are resisted based on standardization of curriculum and theological purity concerns. This research brings to the spotlight that Bangladesh, though progressing towards a technologically integrated Islamic model, lags behind Malaysia and the UAE because of regulatory gaps, technological infrastructure deficit, and reluctance against AI-driven administration. The research proposes sweeping regulatory reforms, higher digital literacy, and active engagement of Islamic scholars with technological integration. Future research must consider Islamic finance developments in the long run during the era of digitalization and the ethical implications of AI in religious decision-making.

 

JEL: G21, O33, M15, E42

 

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Keywords


Islamic finance, financial technology (FinTech), artificial intelligence in governance, blockchain in Islamic banking, digital Islamic education

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References


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DOI: http://dx.doi.org/10.46827/ejefr.v8i8.1911

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