The Role of Artificial Intelligence in Islamic Capital Market Investment: Study on Sharia Compliance, Investment Decision Making, and Market Efficiency
DOI:
https://doi.org/10.59890/ijgsr.v4i6.273Keywords:
Artificial Intelligence, Islamic Capital Market, Sharia Compliance, Maqashid Shariah, Shariah GovernanceAbstract
Artificial intelligence increasingly mediates how Sharia-compliant equities are screened, advised, and traded, yet its consequences for Islamic capital markets remain underexamined. This study interprets how AI reconfigures the relationship between Sharia compliance, investment decision-making, and market efficiency, and what this demands of Sharia governance. Using a qualitative document analysis of the Indonesian setting, anchored in the Technology Acceptance Model, Shariah Governance Theory, and maqashid al-shariah, four themes were identified and developed into five propositions. AI improves the consistency of compliance screening, tempers investor bias, and accelerates information processing—but only where the Sharia Supervisory Board can audit the underlying models. Without reconstituted oversight, automation erodes the very objectives it should serve. Governance, not technology, determines the outcome
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