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An Islamic Perspective on AI Ethics: A Case Study of Wahed Invest Robo Advisory
Mamoun Benmamoun
Richard A. Chaifetz School of Business, Saint Louis University, United States
Rana Sobh
College of Business and Economics, Qatar University, Doha, Qatar
Volume 21: 2024 pp. 00-00: ABSTRACT
This case study examines the confluence of Islamic finance and AI ethics in the rapidly
growing Robo-Advisory sector, focusing on Wahed Invest LLC (Wahed). As a frontrunner in
providing Islamic-compliant financial solutions, Wahed Investments seeks to align its offerings
with core Islamic ethical principles. However, recent violations of the Securities and Exchange
Commission (SEC) regulations, including misleading clients and insufficient disclosures, have
highlighted the urgent need to strictly comply with both Islamic ethical standards and regulatory
requirements to rebuild trust and maintain its status as a Shari’ah-compliant entity advisor.
Keywords: Islamic finance, AI ethics, Robo-Advisory, Wahed Investments, Shari'ah-compliant.
