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

November 1, 2002

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Format: Chicago

Islamic Financial Institutions and Products in the Global Financial System: Key Issues in Risk Management and Challenges Ahead, (USA: International Monetary Fund, 2002) accessed November 21, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

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.

Subject: Banking, Financial regulation and supervision, Financial services, Islamic banking, Market risk

Keywords: Bank, Bank growth, Bank performance, Banks' operations, Central bank, Conventional bank, Depositor, Disclosure framework, Equity position, Financial institution, Global, Growth experience, Information disclosure requirement, Investment depositor, Islamic banking, Islamic Financial institution, Liabilities side, Market risk, Rate of return, Risk factors, Risk management. Islamic Financial Services Board, WP

Publication Details

Pages:

27
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2002/192
Stock No:

WPIEA1922002
ISBN:

9781451859775
ISSN:

1018-5941

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