Bank Rakyat Launches Syariah-Compliant AI Platform to Drive Islamic Finance Innovation

Group chief executive officer Ahmad Shahril Mohd Shariff said the initiative underscores the bank’s ongoing commitment to integrating digital innovation with Syariah principles. He emphasized that as a Syariah-compliant development financial institution, Bank Rakyat’s role extends beyond delivering financial services to promoting ethical values, strengthening governance, and ensuring innovation benefits the wider Muslim community, or ummah.
 

“The AI Fiqh Scholar Version is designed to provide assurance on the authenticity and validity of Syariah reference sources, without any element of fabricated information,” he said during the launch.
The platform has already gained international traction, with users across 72 countries, including Germany, Egypt, Malaysia, Indonesia, and Saudi Arabia, highlighting growing global acceptance of Syariah-based fintech solutions.
 

As part of its social responsibility efforts, Bank Rakyat announced that eight percent of subscription fees generated from AI Fiqh will be contributed to the Bank Rakyat Cash Waqf Fund over the next five years, providing added value to the community.
 

In conjunction with the launch, the bank also revealed the winners of the AI Fiqh Hackathon in Islamic Finance 2026, held on January 28. The event aimed to encourage participation from both local and international talent in advancing AI-driven innovation within Islamic finance.
 

Ahmad Shahril noted that while AI has the potential to enhance research, innovation, and decision-making processes, it is not intended to replace human expertise: “This initiative reflects our confidence that AI can strengthen the ecosystem of Islamic finance while preserving the essential role of scholars and human judgment”.

https://www.nst.com.my/amp/business/corporate/2026/02/1372678/bank-rakyat-launches-syariah-based-ai-fiqh-scholar-platform