RECONSTRUCTING MUDHARABAH CONTRACTS IN ISLAMIC DIGITAL BANKING: INTEGRATING SMART CONTRACTS, ARTIFICIAL INTELLIGENCE, AND SHARIA COMPLIANCE
Keywords:
Artificial Intelligence, Mudharabah Contract, Sharia Compliance, Smart ContractsAbstract
The rapid advancement of digital technologies has significantly transformed the operational landscape of Islamic banking, requiring the adaptation of traditional Islamic contracts to emerging digital financial ecosystems. Among these, the mudharabah contract faces substantial challenges in maintaining its Sharia principles while embracing technological innovations such as artificial intelligence (AI) and blockchain-based smart contracts. This study aims to reconstruct the mudharabah contract model by integrating AI-driven decision support systems, smart contract technology, and Sharia compliance within Islamic digital banking. Employing a normative legal research method with conceptual, statutory, and Islamic jurisprudential approaches, this study critically analyzes the compatibility of digital financial technologies with the essential elements of mudharabah, including mutual consent, trust, profit-sharing, and risk allocation. The findings reveal that digital transformation enhances operational efficiency, transparency, and risk management but simultaneously raises concerns regarding algorithmic accountability, electronic consent, legal certainty, and continuous Sharia supervision. To address these challenges, this study proposes an adaptive Sharia-compliant digital mudharabah model that integrates AI for financing assessment, blockchain-enabled smart contracts for automated profit-sharing execution, and strengthened digital Sharia governance under the supervision of Sharia supervisory authorities. This reconstructed model preserves the fundamental objectives of Islamic commercial law while promoting innovation, transparency, and sustainable digital transformation in Islamic banking. The proposed framework contributes to the development of future Islamic financial contracts that are technologically adaptive without compromising Sharia principles.
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