Purpose

This paper models the benefits of Islamic banking on the efficiency of the banking sector and on societal happiness. This paper aims to examine how the adoption of Islamic banking to various degrees affects economics outcomes.

Design/methodology/approach

This study uses machine-learning tools to build a happiness function and integrate it in an agent-based model to test for the direct and indirect welfare effects of implementing Islamic banking principles.

Findings

This study shows that even though Islamic banking systems tend to reduce economic activity, financial stability and societal happiness is improved. Additionally, a banking sector using Islamic principles across all its members is better equipped to handle banking crises because contagion to both economic activity and societal welfare is greatly reduced. At the same time, adoption of the profit-and-loss sharing (PLS) paradigm by banks may also slow down economic growth.

Research limitations/implications

The findings extend existing literature on the advantages of Islamic banking, by quantifying the welfare benefits of the PLS paradigm on happiness and financial stability.

Originality/value

To the best of the authors’ knowledge, this paper is the first to combine agent-based modelling with machine learning tools to examine the benefits of the Islamic banking model on financial stability, social welfare and unemployment.

中文翻译：

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伊斯兰银行业、效率和社会福利：一项基于代理的机器学习研究

目的

本文模拟了伊斯兰银行业对银行业效率和社会幸福感的好处。本文旨在研究伊斯兰银行业在不同程度上的采用如何影响经济结果。

设计/方法/途径

本研究使用机器学习工具构建幸福函数并将其整合到基于代理的模型中，以测试实施伊斯兰银行业原则的直接和间接福利影响。

发现

这项研究表明，尽管伊斯兰银行系统倾向于减少经济活动，但金融稳定性和社会幸福感得到改善。此外，在其所有成员中采用伊斯兰原则的银行业能够更好地应对银行业危机，因为对经济活动和社会福利的传染都大大减少了。同时，银行采用损益共享（PLS）模式也可能会减缓经济增长。

研究局限性/影响

通过量化 PLS 范式对幸福和金融稳定的福利收益，研究结果扩展了现有关于伊斯兰银行业务优势的文献。

原创性/价值

据作者所知，本文是第一个将基于代理的建模与机器学习工具相结合的论文，以检验伊斯兰银行模型在金融稳定、社会福利和失业方面的好处。