Affiliation:
1. SRM University Delhi-NCR Sonepat, India
2. Universiti Putra Malaysia, Malaysia
3. Royal Global University, India
Abstract
This chapter discusses the role of financial technology in Islamic finance. The chapter explores the Islamic finance principles and the key components of the robo-advisory systems, including portfolio management, client profiling, socially responsible investing, and key players in the Shariah-compliant investment horizon. The present chapter also explores the opportunities and challenges associated with Shariah-compliant robo advisory, like cost-effectiveness, accessibility, regulatory considerations, and the human-machine interaction paradigm. The conclusion of this study highlights the significance of Shariah-compliant robo-advisory services and their potential impact on investors and various stakeholders within the financial industry.