Developing Adaptive Islamic Law Business Processes Models for Islamic Finance and Banking by Text Mining the Holy Qur'an and Hadith

Munir Majdalawieh; Farhi Marir; Issam Tiemsani

doi:10.1109/DASC-PICom-DataCom-CyberSciTec.2017.205

Developing Adaptive Islamic Law Business Processes Models for Islamic Finance and Banking by Text Mining the Holy Qur'an and Hadith

Munir Majdalawieh
, Farhi Marir
, Issam Tiemsani

Zayed University

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

19 Scopus citations

Abstract

A large number of conventional financial institutions, especially banks are moving to an Islamic financial model that's comply with the Shari'a Law with little change to current conventional practices (reverse eningineer current business processes) to accommodate the market for Islamic finance. This study is an attempt to design and develop the business processes for the Islamic financial institutions' (IFIs) products by investigating and collecting information through Islamic literature, surveys and interviews of experts in Islamic jurisprudence, regulators, academic and Islamic finance and banking practitioners. Then the findings will be assessed and evaluated using a Qur'anic Financial Corpus and use computational and analytical approaches to mine the Qur'an and the Hadith to find hidden knowledge on Islamic financial business processes. The knowledge acquired from this investigation will be translated into an Islamic financial process model to be adapted by Islamic and non-Islamic financial institutions. The outcome of this research will influence the future development, growth and diversification of Islamic financial services worldwide.

Original language	English
Title of host publication	Proceedings - 2017 IEEE 15th International Conference on Dependable, Autonomic and Secure Computing, 2017 IEEE 15th International Conference on Pervasive Intelligence and Computing, 2017 IEEE 3rd International Conference on Big Data Intelligence and Computing and 2017 IEEE Cyber Science and Technology Congress, DASC-PICom-DataCom-CyberSciTec 2017
Publisher	Institute of Electrical and Electronics Engineers Inc.
Pages	1278-1283
Number of pages	6
ISBN (Electronic)	9781538619551
DOIs	https://doi.org/10.1109/DASC-PICom-DataCom-CyberSciTec.2017.205
State	Published - 2 Jul 2017
Event	15th IEEE International Conference on Dependable, Autonomic and Secure Computing, 2017 IEEE 15th International Conference on Pervasive Intelligence and Computing, 2017 IEEE 3rd International Conference on Big Data Intelligence and Computing and 2017 IEEE Cyber Science and Technology Congress, DASC-PICom-DataCom-CyberSciTec 2017 - Orlando, United States Duration: 6 Nov 2017 → 11 Nov 2017

Publication series

Name	Proceedings - 2017 IEEE 15th International Conference on Dependable, Autonomic and Secure Computing, 2017 IEEE 15th International Conference on Pervasive Intelligence and Computing, 2017 IEEE 3rd International Conference on Big Data Intelligence and Computing and 2017 IEEE Cyber Science and Technology Congress, DASC-PICom-DataCom-CyberSciTec 2017
Volume	2018-January

Conference

Conference	15th IEEE International Conference on Dependable, Autonomic and Secure Computing, 2017 IEEE 15th International Conference on Pervasive Intelligence and Computing, 2017 IEEE 3rd International Conference on Big Data Intelligence and Computing and 2017 IEEE Cyber Science and Technology Congress, DASC-PICom-DataCom-CyberSciTec 2017
Country/Territory	United States
City	Orlando
Period	6/11/17 → 11/11/17

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 10 Reduced Inequalities

Keywords

Islamic Finance
Murabaha
Quránic corpus
Shariá law
big data
business processes
text mining

Access to Document

10.1109/DASC-PICom-DataCom-CyberSciTec.2017.205

Cite this

Majdalawieh, M., Marir, F., & Tiemsani, I. (2017). Developing Adaptive Islamic Law Business Processes Models for Islamic Finance and Banking by Text Mining the Holy Qur'an and Hadith. In Proceedings - 2017 IEEE 15th International Conference on Dependable, Autonomic and Secure Computing, 2017 IEEE 15th International Conference on Pervasive Intelligence and Computing, 2017 IEEE 3rd International Conference on Big Data Intelligence and Computing and 2017 IEEE Cyber Science and Technology Congress, DASC-PICom-DataCom-CyberSciTec 2017 (pp. 1278-1283). (Proceedings - 2017 IEEE 15th International Conference on Dependable, Autonomic and Secure Computing, 2017 IEEE 15th International Conference on Pervasive Intelligence and Computing, 2017 IEEE 3rd International Conference on Big Data Intelligence and Computing and 2017 IEEE Cyber Science and Technology Congress, DASC-PICom-DataCom-CyberSciTec 2017; Vol. 2018-January). Institute of Electrical and Electronics Engineers Inc.. https://doi.org/10.1109/DASC-PICom-DataCom-CyberSciTec.2017.205

Majdalawieh, Munir ; Marir, Farhi ; Tiemsani, Issam. / Developing Adaptive Islamic Law Business Processes Models for Islamic Finance and Banking by Text Mining the Holy Qur'an and Hadith. Proceedings - 2017 IEEE 15th International Conference on Dependable, Autonomic and Secure Computing, 2017 IEEE 15th International Conference on Pervasive Intelligence and Computing, 2017 IEEE 3rd International Conference on Big Data Intelligence and Computing and 2017 IEEE Cyber Science and Technology Congress, DASC-PICom-DataCom-CyberSciTec 2017. Institute of Electrical and Electronics Engineers Inc., 2017. pp. 1278-1283 (Proceedings - 2017 IEEE 15th International Conference on Dependable, Autonomic and Secure Computing, 2017 IEEE 15th International Conference on Pervasive Intelligence and Computing, 2017 IEEE 3rd International Conference on Big Data Intelligence and Computing and 2017 IEEE Cyber Science and Technology Congress, DASC-PICom-DataCom-CyberSciTec 2017).

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abstract = "A large number of conventional financial institutions, especially banks are moving to an Islamic financial model that's comply with the Shari'a Law with little change to current conventional practices (reverse eningineer current business processes) to accommodate the market for Islamic finance. This study is an attempt to design and develop the business processes for the Islamic financial institutions' (IFIs) products by investigating and collecting information through Islamic literature, surveys and interviews of experts in Islamic jurisprudence, regulators, academic and Islamic finance and banking practitioners. Then the findings will be assessed and evaluated using a Qur'anic Financial Corpus and use computational and analytical approaches to mine the Qur'an and the Hadith to find hidden knowledge on Islamic financial business processes. The knowledge acquired from this investigation will be translated into an Islamic financial process model to be adapted by Islamic and non-Islamic financial institutions. The outcome of this research will influence the future development, growth and diversification of Islamic financial services worldwide.",

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booktitle = "Proceedings - 2017 IEEE 15th International Conference on Dependable, Autonomic and Secure Computing, 2017 IEEE 15th International Conference on Pervasive Intelligence and Computing, 2017 IEEE 3rd International Conference on Big Data Intelligence and Computing and 2017 IEEE Cyber Science and Technology Congress, DASC-PICom-DataCom-CyberSciTec 2017",

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Majdalawieh, M, Marir, F & Tiemsani, I 2017, Developing Adaptive Islamic Law Business Processes Models for Islamic Finance and Banking by Text Mining the Holy Qur'an and Hadith. in Proceedings - 2017 IEEE 15th International Conference on Dependable, Autonomic and Secure Computing, 2017 IEEE 15th International Conference on Pervasive Intelligence and Computing, 2017 IEEE 3rd International Conference on Big Data Intelligence and Computing and 2017 IEEE Cyber Science and Technology Congress, DASC-PICom-DataCom-CyberSciTec 2017. Proceedings - 2017 IEEE 15th International Conference on Dependable, Autonomic and Secure Computing, 2017 IEEE 15th International Conference on Pervasive Intelligence and Computing, 2017 IEEE 3rd International Conference on Big Data Intelligence and Computing and 2017 IEEE Cyber Science and Technology Congress, DASC-PICom-DataCom-CyberSciTec 2017, vol. 2018-January, Institute of Electrical and Electronics Engineers Inc., pp. 1278-1283, 15th IEEE International Conference on Dependable, Autonomic and Secure Computing, 2017 IEEE 15th International Conference on Pervasive Intelligence and Computing, 2017 IEEE 3rd International Conference on Big Data Intelligence and Computing and 2017 IEEE Cyber Science and Technology Congress, DASC-PICom-DataCom-CyberSciTec 2017, Orlando, United States, 6/11/17. https://doi.org/10.1109/DASC-PICom-DataCom-CyberSciTec.2017.205

Developing Adaptive Islamic Law Business Processes Models for Islamic Finance and Banking by Text Mining the Holy Qur'an and Hadith. / Majdalawieh, Munir; Marir, Farhi; Tiemsani, Issam.
Proceedings - 2017 IEEE 15th International Conference on Dependable, Autonomic and Secure Computing, 2017 IEEE 15th International Conference on Pervasive Intelligence and Computing, 2017 IEEE 3rd International Conference on Big Data Intelligence and Computing and 2017 IEEE Cyber Science and Technology Congress, DASC-PICom-DataCom-CyberSciTec 2017. Institute of Electrical and Electronics Engineers Inc., 2017. p. 1278-1283 (Proceedings - 2017 IEEE 15th International Conference on Dependable, Autonomic and Secure Computing, 2017 IEEE 15th International Conference on Pervasive Intelligence and Computing, 2017 IEEE 3rd International Conference on Big Data Intelligence and Computing and 2017 IEEE Cyber Science and Technology Congress, DASC-PICom-DataCom-CyberSciTec 2017; Vol. 2018-January).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

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AB - A large number of conventional financial institutions, especially banks are moving to an Islamic financial model that's comply with the Shari'a Law with little change to current conventional practices (reverse eningineer current business processes) to accommodate the market for Islamic finance. This study is an attempt to design and develop the business processes for the Islamic financial institutions' (IFIs) products by investigating and collecting information through Islamic literature, surveys and interviews of experts in Islamic jurisprudence, regulators, academic and Islamic finance and banking practitioners. Then the findings will be assessed and evaluated using a Qur'anic Financial Corpus and use computational and analytical approaches to mine the Qur'an and the Hadith to find hidden knowledge on Islamic financial business processes. The knowledge acquired from this investigation will be translated into an Islamic financial process model to be adapted by Islamic and non-Islamic financial institutions. The outcome of this research will influence the future development, growth and diversification of Islamic financial services worldwide.

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PB - Institute of Electrical and Electronics Engineers Inc.

T2 - 15th IEEE International Conference on Dependable, Autonomic and Secure Computing, 2017 IEEE 15th International Conference on Pervasive Intelligence and Computing, 2017 IEEE 3rd International Conference on Big Data Intelligence and Computing and 2017 IEEE Cyber Science and Technology Congress, DASC-PICom-DataCom-CyberSciTec 2017

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Majdalawieh M, Marir F, Tiemsani I. Developing Adaptive Islamic Law Business Processes Models for Islamic Finance and Banking by Text Mining the Holy Qur'an and Hadith. In Proceedings - 2017 IEEE 15th International Conference on Dependable, Autonomic and Secure Computing, 2017 IEEE 15th International Conference on Pervasive Intelligence and Computing, 2017 IEEE 3rd International Conference on Big Data Intelligence and Computing and 2017 IEEE Cyber Science and Technology Congress, DASC-PICom-DataCom-CyberSciTec 2017. Institute of Electrical and Electronics Engineers Inc. 2017. p. 1278-1283. (Proceedings - 2017 IEEE 15th International Conference on Dependable, Autonomic and Secure Computing, 2017 IEEE 15th International Conference on Pervasive Intelligence and Computing, 2017 IEEE 3rd International Conference on Big Data Intelligence and Computing and 2017 IEEE Cyber Science and Technology Congress, DASC-PICom-DataCom-CyberSciTec 2017). doi: 10.1109/DASC-PICom-DataCom-CyberSciTec.2017.205

Developing Adaptive Islamic Law Business Processes Models for Islamic Finance and Banking by Text Mining the Holy Qur'an and Hadith

Abstract

Publication series

Conference

UN SDGs

Keywords

Access to Document

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