{"product_id":"mapping-the-risks-and-risk-management-practices-in-islamic-banking-isbn-9781119077817","title":"Mapping the Risks and Risk Management Practices in Islamic Banking","description":"\u003cb\u003eDeep, insightful analysis of controversial risk management issues in Islamic banking\u003c\/b\u003e  \u003cp\u003e\u003ci\u003eMapping the Risks And Risk Management Practices In Islamic Banking\u003c\/i\u003e is a comprehensive analysis of the current state of risk management practices within the Islamic banking industry, with recommendations for policy makers, bankers, and industry stakeholders. Going beyond the academic, this book presents the opinions and perceptions of industry financiers and bankers, alongside primary information and data collected by Islamic finance professionals to deconstruct and analyze the sector's current risk management practices. You'll get up to date on the latest attitudes and trends, and delve into the current issues surrounding risk management in Islamic banks. With a focus on practical applications, this authoritative guide discusses the unique risks facing Islamic banks, from the perspective of a wide range of practitioners.\u003c\/p\u003e \u003cp\u003eRisk management is one of the biggest, most controversial issues in Islamic finance, yet it remains under-researched. Many uncertainties exist for which the answers are still unclear, yet will play a large role in shaping the industry's future. This book digs deep into current ideas and practices to discover what's being done, what needs to be done, and what needs to stop happening to keep the future of Islamic finance strong.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eExplore both Islamic and traditional attitudes toward risk\u003c\/li\u003e \u003cli\u003eExamine current Islamic risk management practices\u003c\/li\u003e \u003cli\u003eUnderstand the latest industry issues and trends\u003c\/li\u003e \u003cli\u003eConsider the diverse range of risks unique to the Islamic banking sector\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eEffective risk management in Islamic banking deserves priority attention. Unless the industry develops its own genuine risk management architecture, it cannot achieve its full potential and the viability needed for a more resilient financial system than the debunked Wall Street model. \u003ci\u003eMapping the Risks and Risk Management Practices in Islamic Banking\u003c\/i\u003e provides a deep, authoritative analysis of where the industry is today and where it needs to develop.\u003c\/p\u003e \u003cp\u003eForeword xi\u003c\/p\u003e \u003cp\u003eAbout the Authors xiii\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Introduction: Research Background and Motivation 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSystemic Importance of Islamic Banking and Finance 3\u003c\/p\u003e \u003cp\u003eResearch Aims, Objectives and Questions 5\u003c\/p\u003e \u003cp\u003eResearch Hypotheses 6\u003c\/p\u003e \u003cp\u003eSignificance of the Study 7\u003c\/p\u003e \u003cp\u003eOverview of the Research Methodology 9\u003c\/p\u003e \u003cp\u003eOverview of the Research 10\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 Principles of Islamic Banking and Finance 13\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHistorical Background of Islamic Banking and Finance 14\u003c\/p\u003e \u003cp\u003eSize of the Industry 17\u003c\/p\u003e \u003cp\u003ePrinciples of Islamic Banking and Finance 20\u003c\/p\u003e \u003cp\u003eBasic Islamic Financing Contracts 20\u003c\/p\u003e \u003cp\u003e\u003ci\u003eSukuk\u003c\/i\u003e: A Step Toward Securitisation 25\u003c\/p\u003e \u003cp\u003eIslamic Banking Versus Conventional Banking 31\u003c\/p\u003e \u003cp\u003eInstitutional Developments in Islamic Banking and Finance Industry 33\u003c\/p\u003e \u003cp\u003eConclusion 39\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Risk Management in Islamic Banks: A Theoretical Perspective 41\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRisk Management: Basic Concepts and Techniques 44\u003c\/p\u003e \u003cp\u003eRisk Management and the Credit Crunch 51\u003c\/p\u003e \u003cp\u003eClassification of Risks 51\u003c\/p\u003e \u003cp\u003eRisks Common to Both Islamic and Conventional Banks 54\u003c\/p\u003e \u003cp\u003eFurther Risk Areas Specific to Islamic Banks 93\u003c\/p\u003e \u003cp\u003eRisk Categories are Entangled 106\u003c\/p\u003e \u003cp\u003eRisk Management Issues in \u003ci\u003eSukuk \u003c\/i\u003e107\u003c\/p\u003e \u003cp\u003eRisk Mitigation in Islamic Banking 110\u003c\/p\u003e \u003cp\u003eSurveying Risk Management Practices in Islamic Banks: A Review of Empirical Research 120\u003c\/p\u003e \u003cp\u003eConclusion 123\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Capital Adequacy for Islamic Banks: A Survey 127\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSignificance of Capital in Banking 128\u003c\/p\u003e \u003cp\u003eClassification of Capital 129\u003c\/p\u003e \u003cp\u003eSteps in the Basel Accord 130\u003c\/p\u003e \u003cp\u003eBasel II and Islamic Banks 138\u003c\/p\u003e \u003cp\u003eBasel III 142\u003c\/p\u003e \u003cp\u003eIFSB Principles on Capital Adequacy 143\u003c\/p\u003e \u003cp\u003eCapital Adequacy as a Tool for Risk Mitigation 150\u003c\/p\u003e \u003cp\u003eConclusion 151\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 Islamic Banking and the Financial Crisis 153\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eUnderstanding the Credit Crisis 156\u003c\/p\u003e \u003cp\u003eThe Financial Crisis and the Need for an Alternative System 163\u003c\/p\u003e \u003cp\u003eThe Financial Crisis and Islamic Finance and Banking as an Alternative Option 163\u003c\/p\u003e \u003cp\u003eDeviations from the Foundational \u003ci\u003eShari’ah \u003c\/i\u003ePrinciples: Evaluating the Operations of Islamic Finance 173\u003c\/p\u003e \u003cp\u003eHow to Achieve the Full Potential of Islamic Finance 177\u003c\/p\u003e \u003cp\u003eConclusion 181\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Research Framework and Methodology 183\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eResearch Questions and Objectives 183\u003c\/p\u003e \u003cp\u003eResearch Hypotheses 185\u003c\/p\u003e \u003cp\u003eResearch Methodology 191\u003c\/p\u003e \u003cp\u003eResearch Design 191\u003c\/p\u003e \u003cp\u003eResearch Strategy 193\u003c\/p\u003e \u003cp\u003eResearch Method 194\u003c\/p\u003e \u003cp\u003eDifficulties and Limitations 210\u003c\/p\u003e \u003cp\u003eConclusion 211\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 Profiling Perspectives of Risk Dimensions in Islamic Finance: Descriptive Questionnaire Data Analysis 213\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eData Analysis and Results 213\u003c\/p\u003e \u003cp\u003eConclusion 250\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Analysing Perceptions of Risk and Risk Management Dimensions and Issues: Inferential Statistical Analysis 253\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRisk Perception 254\u003c\/p\u003e \u003cp\u003eRisk Management and Reporting 295\u003c\/p\u003e \u003cp\u003eRisk Measurement 301\u003c\/p\u003e \u003cp\u003eRisk Mitigation 303\u003c\/p\u003e \u003cp\u003eIslamic Banking in Practice 304\u003c\/p\u003e \u003cp\u003eThe Next Chapter in Islamic Banking 306\u003c\/p\u003e \u003cp\u003eConclusion 307\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Exploring Perceptions of Risk and Risk Management Practices in Islamic Banking: Interview Data Analysis 309\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eInterview Analysis 309\u003c\/p\u003e \u003cp\u003eForming the Main Interview Themes 310\u003c\/p\u003e \u003cp\u003eInterview Questions 310\u003c\/p\u003e \u003cp\u003eResults and Data Analysis 311\u003c\/p\u003e \u003cp\u003eConclusion 335\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Contextualising the Findings: An Interpretative Discussion 337\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRisk Perception in Islamic Banking 337\u003c\/p\u003e \u003cp\u003eIslamic Finance Contracts 345\u003c\/p\u003e \u003cp\u003eAdditional Risk Issues Facing Islamic Financial Institutions 351\u003c\/p\u003e \u003cp\u003eCapital Adequacy for Islamic Banks 353\u003c\/p\u003e \u003cp\u003eIslamic Banking and the Global Credit Crisis 356\u003c\/p\u003e \u003cp\u003eRisk Management and Reporting 363\u003c\/p\u003e \u003cp\u003eRisk Measurement 365\u003c\/p\u003e \u003cp\u003eRisk Mitigation 367\u003c\/p\u003e \u003cp\u003eIslamic Banking in Practice 370\u003c\/p\u003e \u003cp\u003eThe Future of Islamic Banking 372\u003c\/p\u003e \u003cp\u003eConclusion and Summary 378\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11 Conclusion and Research Recommendations 381\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSummary of the Research 381\u003c\/p\u003e \u003cp\u003eReflecting on the Research Findings 382\u003c\/p\u003e \u003cp\u003eResearch Implications and Recommendations 386\u003c\/p\u003e \u003cp\u003eLimitations of the Study 389\u003c\/p\u003e \u003cp\u003eSuggestions for Future Research 390\u003c\/p\u003e \u003cp\u003eAppendix 1: Questionnaire 393\u003c\/p\u003e \u003cp\u003eList of Acronyms 401\u003c\/p\u003e \u003cp\u003eEpilogue 403\u003c\/p\u003e \u003cp\u003eBibliography 405\u003c\/p\u003e \u003cp\u003eIndex 415\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eDR. WAEL KAMAL EID\u003c\/b\u003e is the Chief Risk Officer at SEDCO Holding, the Chairman of the Board Audit and Risk Committee of Al Nahdi Medical Company and a Member of Auto World Audit Committee. He is a risk specialist in Islamic banking who holds an MBA with Distinction from Warwick Business School, and a PhD in risk management from Durham University. He has extensive experience in Risk Management and Islamic banking in the Middle East and Europe. He is also a guest lecturer on Risk Management and Islamic Finance at distinguished universities and speaks regularly at international Risk Management events and conferences. Dr. Eid is the winner of the 2015 Golden Peacock Award for Risk Management by the prestigious Institute of Directors (IoD). \u003c\/p\u003e\u003cp\u003e\u003cb\u003eDR. MEHMET ASUTAY\u003c\/b\u003e is a Professor of Middle Eastern and Islamic Political Economy and Finance at the Durham University Business School; the Director of the Durham Centre in Islamic Economics and Finance; the Programme Director for MSc in Islamic Finance and MSc in Islamic Finance and Management programmes, and is also the Director of the Durham Islamic Finance Summer School. His teaching, research, publication, and supervision of research all falls within Islamic moral economy\/Islamic economics, Islamic political economy, Islamic finance and banking, Islamic governance and management, and the Middle Eastern political economies. His articles on his research interest have been published in various international academic journals and professional magazines. Dr. Asutay has also published and edited books on aspects of Islamic moral economy and Islamic finance.\u003cb\u003e\u003c\/b\u003e   \u003c\/p\u003e\u003cp\u003e\u003cb\u003eAn insightful analysis of controversial risk management issues in Islamic banking\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e\u003cb\u003eI\u003c\/b\u003eslamic finance is the fastest growing sector in the financial industry. Solidly based in research\u003ci\u003e, Mapping the Risks and Risk Management Practices in Islamic Banking\u003c\/i\u003e offers a comprehensive and much-needed guide that explores the perceptions and attitudes of Islamic banking professionals towards contemporary risk management issues within Islamic banking. In addition to the expert opinions and information, this practical book contains recommendations for policymakers, bankers, and industry stakeholders. \u003c\/p\u003e\u003cp\u003eWritten by two experts on the topic (a well-known working professional and an acclaimed academic), the book effectively combines theory with practice and is filled with useful data and insight from industry financiers and bankers that help analyse the sector's current risk management practices. The authors review the recent trends and attitudes and explore the current issues that pertain to risk management in Islamic banks. The book also highlights the unique risks facing Islamic banks, from the perspective of a wide range of practitioners. \u003c\/p\u003e\u003cp\u003eIn recent years, the focus on Islamic banking has shifted away from interest-free banking to developing an Islamic financial industry that does not suffer from the weaknesses of the conventional banking system. This new focus highlights risk management and mitigation, financial engineering, innovation, and providing common standards in Islamic finance. The book digs deep into current ideas and practices to discover what's being done, what needs to be done, and what needs to stop happening to keep the future of Islamic finance strong. \u003c\/p\u003e\u003cp\u003eThe authors examine Islamic banking in light of the recent financial crisis, review the current Islamic risk management practices, and consider the range of risks that are unique to the Islamic banking sector. \u003ci\u003eMapping the Risks and Risk Management Practices in Islamic Banking\u003c\/i\u003e provides a thoughtful, authoritative analysis of where the industry is today and where it needs to develop to meet the needs of the future.\t   \u003c\/p\u003e\u003cp\u003ePraise for \u003cb\u003eMapping the Risks and Risk Management Practices in Islamic Banking\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e\"\u003ci\u003eMapping the Risks and Risk Management Practices in Islamic Banking\u003c\/i\u003e offers a much-needed contribution to the literature on Islamic banking. The authors explore the basic tenets of Islamic finance and provide an overview of risks that are unique to Islamic banks. The book uniquely combines theory with practice; it contains the thoughts of Islamic banking professionals and explores the most recent developments and trends in the industry. This comprehensive and authoritative guide reviews the major findings, recommendations, limitations of Islamic banking and contains suggestions for future research.\"\u003cbr\u003e \u003cb\u003e—Adnan Ahmed Yusuf,\u003c\/b\u003e President \u0026amp; Chief Executive, Al Baraka Banking Group \u003c\/p\u003e\u003cp\u003e\"The book serves as an essential guide to risk management in Islamic banking and is a 'must read' for researchers working in this area, including university faculty and postgraduate students of Islamic finance. Although primarily an academic study, the book should prove worthwhile reading for financial regulators and professional bankers working in the Islamic finance industry. The findings from the surveys are clearly explained and there is a useful chapter which provides an interpretative discussion. Overall the work is an insightful and useful piece of research.\"\u003cbr\u003e \u003cb\u003e—Prof. Rodney Wilson,\u003c\/b\u003e Emeritus Professor, Durham University \u003c\/p\u003e\u003cp\u003e\"\u003ci\u003eMapping the Risks and Risk Management Practices in Islamic Banking\u003c\/i\u003e is an excellent addition to literature. The authors have vast knowledge of the topic and have done extensive research in Risk Management in Islamic banking, which continues to be an under-researched area of study. This book not only provides an up-to-date overview of current market issues, trends and practices in risk management for Islamic banks, but also covers much ground by presenting discussions on a wide range of risks currently faced by Islamic banks. A highly recommended text to both practitioners and academics.\"\u003cbr\u003e \u003cb\u003e—Dr. Adnan Soufi,\u003c\/b\u003e Commissioner, Capital Market Authority, KSA; former Dean of Faculty of Economics and Administration, King Abdulaziz University \u003c\/p\u003e\u003cp\u003e\"Well researched and clearly laid out, this book provides timely insight in the unique risks faced by Islamic financial institutions and how they can be managed. Recommended reading for anyone in risk management, or who may want to get a better understanding of the subject.\"\u003cbr\u003e \u003cb\u003e—Natalie Schoon,\u003c\/b\u003e Principal Consultant, Formabb; Author of \u003ci\u003eModern Islamic Banking: Products and Processes in Practice\u003c\/i\u003e\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989572337893,"sku":"NP9781119077817","price":90.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781119077817.jpg?v=1761784649","url":"https:\/\/k12savings.com\/products\/mapping-the-risks-and-risk-management-practices-in-islamic-banking-isbn-9781119077817","provider":"K12savings","version":"1.0","type":"link"}