Program Introduction

The financial sector is witnessing a rapid transformation toward adopting artificial intelligence technologies to enhance operational efficiency, improve governance and compliance quality, and strengthen risk management. With the increasing complexity of financial and regulatory operations, financial institutions are in need of intelligent tools capable of analyzing data, detecting anomalies, and supporting decision-making in accordance with approved regulatory and Sharia frameworks.

This program aims to empower participants with an understanding of artificial intelligence applications in governance of operations and auditing within financial institutions, with a focus on strengthening compliance, risk analysis, and internal control functions, in line with best professional practices and AAOIFI standards, and in harmony with digital transformation and Saudi Vision 2030.

Program Objectives

By the end of the program, participants will be able to:

• Understand governance and compliance concepts in Islamic financial institutions.
• Identify applications of artificial intelligence in auditing, control, and risk management.
• Analyze the role of AI in supporting compliance with Sharia and regulatory standards.
• Distinguish between Islamic financing contracts and associated risk areas.
• Identify mechanisms for detecting non-compliant transactions or clauses using intelligent technologies.
• Understand AI ethics and requirements for transparency and explainability.
• Design an initial framework for smart compliance within financial institutions.
• Enhance the ability to leverage digital transformation in developing governance and control systems.

Program Modules

First: Introduction to Governance and Compliance in Financial Institutions

• Concept of governance in Islamic financial institutions
• Institutional and regulatory compliance frameworks
• AAOIFI standards and assurance/control frameworks
• Role of internal control and auditing in financial institutions
• Applied case studies from the Islamic financial sector

Second: Artificial Intelligence in Control and Compliance

• Concept and types of artificial intelligence
• AI applications in the financial sector
• Role of smart technologies in detecting anomalies and fraud
• Opportunities and challenges of AI in Islamic finance
• Aligning modern technologies with Sharia and regulatory requirements

Third: Data and Ethics of Artificial Intelligence

• Components of a smart compliance system
• Data sources and regulatory information management
• Ethics of artificial intelligence in financial institutions
• Transparency, explainability, and accountability
• Potential biases and mitigation mechanisms
• Smart compliance governance models

Fourth: Islamic Financing Contracts and Risk Management

• Murabaha, Ijara financing, and Tawarruq
• Operational structure of Islamic financing contracts
• Classification of risks associated with financing contracts
• Using AI to review contracts and analyze deviations
• Operational and credit risk assessment

Fifth: Digital Transformation and Institutional Framework for Smart Compliance

• Building an AI-powered compliance institutional framework
• Digital transformation in the financial sector
• Saudi Vision 2030 and Financial Technology (FinTech)
• Practical applications and operational models
• Workshop: Designing an initial smart compliance system framework

Target Audience

• Compliance and control teams in banks and Islamic financial institutions
• Internal audit and risk management staff
• Digital transformation and fintech professionals
• Legal and regulatory department employees
• Staff in financing and investment companies
• Academics, researchers, and postgraduate students
• Individuals interested in AI applications in the financial sector
• Governance and compliance specialists in financial institutions

Program Delivery Method

• Interactive training lectures
• Specialized presentations
• Real-life case studies
• Workshops and practical applications
• Group discussions and scenario analysis
• Available in Arabic and English
• Available onsite or online