IsDBI Report Highlights the Role of Islamic Finance and Artificial Intelligence in Enhancing Financial Inclusion 

The Islamic Development Bank Institute (IsDBI) has released a report drawing attention to how Islamic finance and artificial intelligence (AI) can raise levels of financial inclusion. This report lays out an Islamic finance framework for financial inclusion, analyses the main roadblocks to AI adoption and proposes strategies for leveraging Islamic finance with AI to improve financial inclusion.

Why it Matters?

IsDBI Acting Director-General and IsDB Group Chief Economist, Dr Sami Al-Suwailem, said that this report is pertinent, coming at a time when COVID-19 is creating major economic disruptions around the world. It puts forward an approach to financing small and medium-sized businesses based on two pillars that should allow for more efficient access...