An artificial intelligence and NLP based Islamic FinTech model combining Zakat and Qardh-Al-Hasan for countering the adverse impact of COVID 19 on SMEs and individuals
Autor: | Yannis E. Thalassinos, Mustafa Raza Rabbani, Mohammad Haider Syed, Shahnawaz Khan |
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Jazyk: | angličtina |
Rok vydání: | 2020 |
Předmět: |
Artificial intelligence
Coronaviruses media_common.quotation_subject Wage Communicable diseases computer.software_genre Originality 0502 economics and business Production (economics) Economic impact analysis media_common Government business.industry 05 social sciences 050301 education Islam Technological innovations -- Economic aspects General Business Management and Accounting Loan Small and medium-sized enterprises Business 0503 education General Economics Econometrics and Finance computer 050203 business & management Natural language processing |
Popis: | Pursose: The ongoing Corona virus (COVID 19) pandemic has already impacted almost everyone across the globe. The focus has now shifted from spread of the disease to the economic consequences it will bring to the society. The shortage of production will result into the shortage of supply and consequently will end as loss of jobs and employment for millions of people around the world. Two of the most important section of our society i.e., daily wage laborers and Small and Medium Enterprises (SMEs) will have to bear the major burnt of this crisis. The proposed integrated Artificial Intelligence and NLP based Islamic FinTech Model combining Zakat (Islamic tax) and Qardh-Al-Hasan (benevolent loan) can help the economy to minimize the adverse impact of COVID 19 on individuals and SMEs. Design/Methodology/Approach: The present study explores the possibility of Zakat and Qardh-Al-Hasan as a financing method to fight the adverse impact of Corona virus on poor individuls and SMEs. It provides the solution by proposing an Artificial Intelligence and NLP based Islamic FinTech Model combining Zakat and Qardh-Al-Hasan. Findings: The findings of the study reveals that Islamic finance has immense potential to fight any kind of situation/pandemic. Zakat and Qardh-Al-Hasan, if combined together can prove to be a deadly combination to fight the adverse effect of COVID 19. Practical Implications: To be used as an effective way to support individuals and SMEs in the period during and after the pandemic of COVID 19. Originality/value: There is no study combining Zakat and Qardh Al-Hasan to fight the adverse effect of poor individuals and SMEs. The study will contribute massively to the existing literature and will help the government and civil societies in fighting the economic impact of COVID 19 on individuals and SMEs. peer-reviewed |
Databáze: | OpenAIRE |
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