Oishi Chowdhury

Work place: American International University-Bangladesh (AIUB), Dhaka, Bangladesh

E-mail: oishichowdhury2@gmail.com

Website: https://orcid.org/0000-0003-4234-7902

Research Interests: Computer Science & Information Technology, Information Security, Distributed Computing, Information Systems, World Wide Web, Mathematics of Computing

Biography

Oishi Chowdhury currently working as a Software Engineer in Era Infotech ltd. She also works as a Junior software engineer in the Dekko Legacy group.
She received her Bachelor’s in Computer Science and Engineering (CSE) from American International UniversityBangladesh(AIUB), Dhaka, Bangladesh in 2018 and 2021 respectively.
She has published a Conference paper mainly focused on fintech Blockchain. She was the finalist in the National Blockchain Olympiad Bangladesh 2022.
Her research interest primarily focuses on Distributed Ledger Technology (DLT), Blockchain Technology, Web 3.0, Distributed Computing, Web of Things, Information Security, Web Assembly, and Knowledge base System.

Author Articles
The Decentralized Shariah-Based Banking System in Bangladesh Using Block-chain Technology

By Oishi Chowdhury Md Al Samiul Amin Rishat Md. Al-Amin Md. Hanif Bin Azam

DOI: https://doi.org/10.5815/ijieeb.2023.03.02, Pub. Date: 8 Jun. 2023

Shariah-based banking aims to apply Islamic finance while adhering to Shariah principles. The primary distinction between conventional and Islamic finance is that Sharia law explicitly forbids several of the activities and principles applied in conventional banking. According to Sharia law, “Paying or charging an interest (Riba)” lending with interest payments as an exploitative practice that benefits the lender at the expense of the borrower, “investing in businesses engaged in banned activities" like producing and selling alcohol or pork, “speculation or gambling(Maisir)” That means financial institutions are prohibited from participating in contracts where the ownership of goods depends on an unpredictable future event, and Participation in contracts with a high level of risk or uncertainty is referred to as "uncertainty and risk (Gharar)", which are strictly prohibited. As a result, consumers must be aware of whether they are taking Riba, Gharar, Maisir or if their money is invested in a halal firm. Because of its qualities, blockchain would be useful in this situation. This research tries to determine how blockchain technology can be used to make investments and profit or loss returns more transparent, more secure, Immutable and sharia compliant. Blockchain networks can be utilized in the financial industry, such as banking, to provide safe sharia banking.

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