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CISRIM - The Certified Islamic Specialist in Risk Management

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Due to the sheer nature of their varied and complex activities, banks are often exposed to an array of risks such as credit risks, market risks, operational risks and liquidity risk….etc. Therefore, the issue of risk management has become the center of considerable attention from both regulatory and supervisory authorities. There has emerged a pressing need to follow proper procedures for the implementation of all elements of risk management, including risk identification, measurement, mitigation, monitoring, reporting to supervisory authorities, and eventually controlling. These procedures necessitate the adoption of appropriate policies and the establishment of limits, procedures, information systems, effective management of decision-making and preparation of internal reports about the risks commensurate with the scope and sphere of its activity.

One of the requirements of the basic competent knowledge about the Takaful Insurance is addressing the legal aspects of this industry, which requires the consulting of evidence from the Qur’an and Sunnah, and precedents in the Islamic jurisprudence heritage of the Takaful Insurance as well as the decisions of fiqh academies and other channels of collective ijtihad about the subject, and finally suspicions about Takaful insurance.

At the level of issues relating to risk management, Islamic financial institutions need to develop more rigorous systems in order to identify, measure, monitor and control risk categories relevant to their products and services. This is because the nature of the work of Islamic financial institutions and the characteristics of their products require a deep analysis so as to identify the types of traditional risks they face jointly with traditional products. Added to that is the need to identify the exceptional risks that are unique to Islamic financial services industry.

Islamic financial institutions also show interest in identifying effective means to address those risks, reduce their scope, and deal with them in compliance with the rules and principles of Islamic law.

Objectives:
  • Definition of the types of common risks faced by both traditional and Islamic financial institutions and survey of risks special to Islamic Financial Institutions
  • Understanding the environment and the right tools to manage risks in Islamic financial institutions and  identification of relevant techniques including methods and procedures for determining their quantity, type , ways  to measure them, reports evaluation and management
  • Study the most important Islamic legal requirements for risk management, the sound and legitimate controls and foundations to address those risks and minimize their impact
  • Introduction of international and Islamic standards in risk management

Contents of the program:
  • Introduction to risks in financial institutions
  • Types of risks in financial institutions
  • Risk management in accordance with international and Islamic standards
  • Credit risk management in Islamic financial institutions
  • Market risk management in Islamic financial institutions
  • Operational risk management in Islamic financial institutions
  • Liquidity risk management in Islamic financial institutions
 
Price
AED 9,181
US$ 2,500
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Duration: 4 Days

Intakes: Every Month

Language: Arabic

Training Partner
General Council for Islamic Banks And Financial Institution
 

Who will Benefit:
  • Managers and officials of the risk departments
  • Financial Supervisors and officials of the Internal Audit
  • Officials of the finance and investment departments
  • Officials of the Sharia Supervisory departments
  • Officials of the treasury departments
  • Managers of the compliance departments
 

 
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