Transition to Islamic Banking
Journal Title: Journal of Computing and Management Studies (JCMS) - Year 2019, Vol 3, Issue 3
Abstract
Risk management is the identification, assessment, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities. The overriding aim of the research is to study the risk management practices in the transition from conventional to Islamic Banking. This study found that different forms of risks were faced by Islamic Banking in its transition from conventional banking. These risks were related to both micro and macro operations along with some general risks. The macro operations level risks faced by Islamic Banking related to liquidity, Asset’s Valuation, Creation of Credit and financial stability etc. The micro operations related risks faced by Islamic Banking ranged from increased cost of information to mark-up financing and from the financing of social concerns to the control over cost of funds etc. Apart from operational risks both at micro and macro levels, some general risk or problems were also faced by Islamic Banking in its transition from conventional banking and which related to the formation of Shariah Board, communicating Bank’s new Vision and the marketing of the new bank products.
Authors and Affiliations
Siraj Khan
Keywords
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