Financial Risk Management for Islamic Banking and Finance 1st Edition by Akkizidis, Khandelwal 0230553818 9780230553811

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Product details: 

ISBN 10: 0230553818

ISBN 13: 9780230553811

Author: I. Akkizidis, S. Khandelwal 

Financial institutions are increasingly providing Islamic financial contracts in global markets. As a result of this market growth there is a high demand to understand how to assess and manage the risks arising from applying Islamic financial products and services. Credit, operational, market and liquidity risks together with the risk of non compliance with the Shariah law are becoming very hot issues for financial institutions. This book presents a common framework on how to efficiently manage the risks faced.

Financial Risk Management for Islamic Banking and Finance 1st Table of contents: 

1 Principles of Islamic Finance

Introduction

2 Risk Management Issues in Islamic Financial Contracts

Introduction

An overview of financial risks

Identifying risks in Islamic finance

Risk of non-compliance with Shariahrules

Main elements used in financial risk analysis

Mushãrakah contracts of partnership and financial risks

Mudãrabah contracts of partnership

Murãbaha contract agreements and financial risk

Salam contract agreements and financial risk

Istisnã contracts and financial risks

Ijãrah contract agreement and financial risk

3 Basel II and IFSB for Islamic Financial Risk

Introduction

The Basel accord

Risk management according to Basel II and the Islamic financial industry

The three pillars of Basel II

Pillar 2: Supervisory review

Pillar 3: Market discipline

IFSB principles of risk management

4 Credit Risks in Islamic Finance

Introduction

Credit risk exposure identification

Credit risk assessment models

Credit risk valuation

Credit risk mitigation

Credit rating systems

Validating the credit rating systems

5 Market Risks in Islamic Finance

Introduction

Identification of market risk factors

Rate of return risk

Commodity risk in Islamic finance

FX rate risks

Equity price risks

Valuation issues on equity prices and FX rates

Quantification of foreign exchange risk, equity risk, and commodity risk

Data referring to market risk factors

Sensitivity in market risk

Market risk valuation models

VaR models for Islamic financial contracts

Position and market data

Position risk and exposure risk

Evaluation methods of market risk

Variance–co-variance method

Monte Carlo simulation method

Historical simulation

Back-testing and stress-testing for market risk exposures

6 Operational Risk in Islamic Finance

Introduction

Main elements in operational risk analysis

Identification of operational risk

Measuring operational risks

Loss events

Evaluating operational risk based on VaR analysis

Elements in the framework of the operational risk management

7 Concluding Remarks

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