Islamic Financial Institutions and Products in the Global Financial System: Key Issues in Risk Management and Challenges Ahead

International Monetary Fund

No 2002/192, IMF Working Papers from International Monetary Fund

Abstract: The provision and use of financial services and products that conform to Islamic religious principles pose special challenges for the identification, measurement, monitoring, and control of underlying risks. Effective and efficient risk management in Islamic financial institutions has assumed particular importance as they endeavor to cope with the challenges of globalization. This requires the development of not only a more suitable regulatory framework, but also new financial instruments and institutional arrangements to provide an enabling operational environment for Islamic finance. The recent establishment of the Islamic Financial Services Board, facilitated by the IMF, addresses these needs.

Keywords: WP; bank; financial institution; central bank; depositor; Islamic banking; risk management. Islamic Financial Services Board; equity position; liabilities side; growth experience; bank growth; risk factors; rate of return; bank performance; banks' operations; investment depositor; conventional bank; Market risk; Global; disclosure framework; information disclosure requirement; Islamic Financial institution (search for similar items in EconPapers)
Pages: 27
Date: 2002-11-01
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Citations: View citations in EconPapers (61)

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