University of Science and Technology Chittagong
Asked 22nd Aug, 2012
How are Islamic banks going to cater the problem of Risk management?
Measurement and provisioning for Credit Risk, Operational Risk and market risk.
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Measurement for Credit Risk can be above mellui method of financing the restructuring or rescheduling. while market risk can be addressed using the principle of sharing profits or losses. And Operational risk can be overcome by managing market risks related to changes in exchange rates which may cause harm Bank
This has been dealt with in a comprehensive manner in relevant guidelines of the Islamic Financial Services Board (IFSB).
For the full text of the GUIDING PRINCIPLES OF RISK MANAGEMENT FOR INSTITUTIONS (OTHER THAN INSURANCE INSTITUTIONS) OFFERING ONLY ISLAMIC FINANCIAL SERVICES, kindly visit:
It depends on the type of risk that is in question. That is, whether it is Shariah risk, legal risk, liquidity risk and etc. Each type of risk is dealt with in the guidelines and regulations of Central Banks and other regulatory bodies such as IILM, IFSB, Basel and etc. Thus, the onus rests on the regulators to apply the law to the letter to ensure that risks are avoided. Since regulators play important role in the regard. The only way to mitigate risk is to bring experts on board.
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