Activating the Tool of Scientific Debate in Assessing the Shariah and Legal Risks of the Smart Financial Product

Abstract

This study aims to explore how the debate method can be utilized to develop and test smart financial products. The research reveals that this approach can enhance the quality and effectiveness of innovative financial products by providing multidimensional evaluations and using debates in financial technology labs as an opportunity to gather diverse expert opinions. This process enriches the comprehensive understanding of the product, facilitates informed decision-making, and contributes to increasing transparency and credibility around financial technology products. This, in turn, boosts investor and customer confidence and enhances market acceptance. The study includes an introduction to the concepts of scientific debate and financial technologies, examines models in legislative experimental environments, and applies the scientific debate method to test smart financial products. It addresses the preparation phase for scientific debates, methods of conducting scientific debates, and arbitration at the end of the debate in legislative experimental labs. The findings indicate that scientific debates are a crucial component of legal heritage that significantly advanced legal scholarship in previous centuries. They also contribute to enhancing the current generation’s ability to develop logic and creativity. Furthermore, the study highlights the potential of applying the scientific debate tool in legislative experimental environments to mitigate legal and Sharia risks by providing comprehensive discussions aimed at advancing smart financial products. The study recommends further research on the application of scientific debates in developing financial products, identifying best practices, and leveraging skills embedded in Islamic legal heritage.