Web-Based Corporate Risk Disclosure Practices in Islamic Banks: Empirical Evidence from Listed Islamic Banks in Egypt

Elhassan Kotb Abdelrahman Radwan and Nada Omar Hassan Ali

Chapter 9 in Islamic Accounting and Finance:A Handbook, 2023, pp 281-315 from World Scientific Publishing Co. Pte. Ltd.

Abstract: This study explores the status of the online risk disclosure practices on the listed Islamic banks in the Egyptian exchange market. Manual content analysis was employed as a research approach to examine the practices of the online risk disclosure for the three listed Islamic banks in Egypt, and based on a prior study, it developed a risk index composed of 10 main categories and a total of 61 sub-items as a research tool. The empirical analysis presents that all listed Islamic banks in the Egyptian exchange market have websites and all these banks report risk information in their published online reports (full annual report and full financial report). Furthermore, the results provide confirmatory evidence that there is a high adherence by all listed Islamic banks in Egypt to the mandatory risk disclosure requirements on their websites, while there is a low level of voluntary risk disclosure on the websites of these banks as well; in addition, the study pointed out that Al Baraka Bank has the highest average (67.2%) of online risk disclosure level among all Islamic banks, followed by Faisal Islamic Bank with an average of 65.5%, and finally, Abu Dhabi Islamic Bank came in the last place with an average of 60.6%. What’s more, the yielded data show that the total average level of online risk disclosure of the Islamic listed banks in Egypt is 64.5%. Finally, the results of this study outline that there are no significant differences between the levels of online risk disclosure at the level of the common categories for all Islamic listed banks in Egypt. The limitations of this study are as follows: the way the content analysis was conducted; in its reliance on the websites and the published online reports for examining risk disclosure information; due to its focus on the financial and non-financial risks; due to its focus on Islamic listed banks in Egypt; and due to its focus on the context of the Egyptian environment.

Keywords: Islamic Accounting; Islamic Finance; Islamic Banking; AAOIFI (search for similar items in EconPapers)
JEL-codes: G34 M41 (search for similar items in EconPapers)
Date: 2023
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