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Highlights on Practical Applications of Agents and Multi-Agent Systems pp 315–322Cite as

Earn More, Stay Legal: Novel Multi-agent Support for Islamic Banking

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Part of the book series: Advances in Intelligent and Soft Computing ((AINSC,volume 156))

Abstract

Multi-Agent Systems can play a critical role in Islamic banking development to create new or reform existing financial products in order to promote profit, reduce risk and to solve a number of legal issues related to Islamic Sharia law. This paper introduces a novel multi-agent platform for commodity trading in support of Islamic banking. The article focuses on the most popular (and debated) Islamic banking product, Tawarruq, and describes the design and implementation of a heterogeneous multi-agent platform assisting three types of participants: banks, retailers and individuals in need of cash. The benefits of our approach are demonstrated experimentally through simulations.

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References

  1. Alzaidi, A., Kazakov, D.: Equation Discovery for Financial Forecasting in the Context of Islamic Banking. In: The Proceedings of the Eleventh IASTED International Conference on Artificial Intelligence and Applications, Innsbruck, Austria (2011)

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  2. Roy, O.: The Failure of Political Islam. Harvard University Press (1994)

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  3. Sait, S., Lim, H.: Land, Law and Islam. UN-HABITAT, New York (2006)

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  4. Venardos, A.M.: Islamic Banking & Finance in South-East Asia: Its Development & Future. World Scientific Publishing, Singapore (2011)

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Author information

Authors and Affiliations

  1. Department of Computer Science, University of York, York, YO10 5GH, UK

    Amer Alzaidi & Dimitar Kazakov

Authors
  1. Amer Alzaidi
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  2. Dimitar Kazakov
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Corresponding author

Correspondence to Amer Alzaidi .

Editor information

Editors and Affiliations

  1. Escuela Universitaria de Informática, Universidad Pontificia de Salamanca, Compañía 5, Salamanca, 37002, Spain

    Javier Bajo Pérez

  2. , Facultad de Informática, Universidad Pontificia de Salamanca, Compañía 5, Salamanca, 37002, Spain

    Miguel A. Sánchez

  3. Technologies de Lille, LIFL UMR CNRS 8022, Université des Sciences et, Bâtiment M3 (extension), Villeneuve d’Ascq, 59655, France

    Philippe Mathieu

  4. Faculty of Science, Department of Computing Science, University of Salamanca, Plaza de la Merced S/N, Salamanca, 37008, Spain

    Juan M. Corchado Rodríguez

  5. , LAMIH (UMR CNRS 8530), Universite de Valenciennes, Le Mont Houy, Valenciennes, 59313, France

    Emmanuel Adam

  6. , Departamento de Ingeniería, Ciudad Universitaria de Cantoblanco, Madrid, 28049, Spain

    Alfonso Ortega

  7. Universidad de Salamanca, Plaza de la Merced S/N, Salamanca, 37008, Spain

    María N. Moreno

  8. , Departamento de Informática, University of Castilla-La Mancha, Campus Universitario s/n, Albacete, 02071, Spain

    Elena Navarro

  9. EBTIC, Khalifa University, Abu Dhabi Campus, Abu Dhabi, Utd.Arab.Emir.

    Benjamin Hirsch

  10. , Departamento de Engenharia Informática, Universidade do Porto, Rua Dr. Roberto Frias, s/n, Porto, 4200-465, Portugal

    Henrique Lopes-Cardoso

  11. Universidad Politécnica de Valencia, Camino de Vera s/n, Valencia, 46022, Spain

    Vicente Julián

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© 2012 Springer-Verlag Berlin Heidelberg

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Cite this paper

Alzaidi, A., Kazakov, D. (2012). Earn More, Stay Legal: Novel Multi-agent Support for Islamic Banking. In: Pérez, J., et al. Highlights on Practical Applications of Agents and Multi-Agent Systems. Advances in Intelligent and Soft Computing, vol 156. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-28762-6_38

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  • DOI: https://doi.org/10.1007/978-3-642-28762-6_38

  • Publisher Name: Springer, Berlin, Heidelberg

  • Print ISBN: 978-3-642-28761-9

  • Online ISBN: 978-3-642-28762-6

  • eBook Packages: EngineeringEngineering (R0)

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