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RISK MANAGEMENT [Source: Zubair Hasan, 2014] - Coggle Diagram
RISK MANAGEMENT [Source: Zubair Hasan, 2014]
- Risk Management in Islamic Banking can be defined as a forecasting of financial risks and applying necessary procedures to minimize their impact, while practicing the Islamic Banking.
- Risk Management Guidelines provide a set of best practices for establishing and implementing effective risk management in Islamic Banking.
- These Guidelines set out fifteen principles of risk management that give practical effect to managing the risks underlying the business objectives that Islamic banking institutions may adopt.
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RISK MANGEMENT FRAMEWORK
- SELECT RISK CONTROL MEASURE
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- Identify control blockages
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- Establishes lines of authority and responsibility
- Define processes and procedures
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- Establish monitoring infrastructure
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- Analytical work flows and processes
- List risks and their causes.