The Electronic Agent between Technological Mediation and Sharīʿah-Based Agency: A Fiqh-Based Study of Financial Transactions

Abstract

This study examines artificial intelligence and the outcomes of modern technologies that have enabled machines to attain advanced levels of functional awareness and autonomous decision making, as they increasingly emulate human behavior across various fields, most notably financial transactions. This development necessitates intensified scholarly inquiry and ijtihad in the domain of electronic transactions in order to activate the rulings of Islamic legal texts within a forward looking framework that accommodates the modernization of transactions, particularly financial ones, in light of their rapid growth and widespread adoption. This is undertaken with the aim of elucidating the principles and criteria that distinguish lawful from prohibited practices. From this perspective, the study addresses the electronic agent as one of the emerging forms of financial transactions based on what is known as smart mediation, especially given the growing reliance on this mechanism in financial markets and electronic commerce in general due to its positive contribution to the advancement of contemporary Islamic society through enhancing financial dealings and facilitating people’s affairs. This, in turn, places upon the relevant authorities, particularly scholars, the responsibility of ensuring the conformity of such technologies with the values and regulatory principles established by Islamic law.