The answer to this question effectively says that Allah is the same deity as Hashem. In Islam, it is considered an equivalent to the shem Hashem, except that one need not be m'kadesh to write it. It is also close to the name אלוה, which is put in a geniza.
If this is the case, would the arabic word, ﷲ, be considered a shem (holy name) relegating a book to geniza? Does it matter that it's a close cognate of one of Hashem's Hebrew names?