Abstract

http://ssrn.com/abstract=880303
 
 

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


V. Sundararajan


International Monetary Fund (IMF)

Luca Errico


International Monetary Fund (IMF)

November 2002

IMF Working Paper No. 02/192

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.

Number of Pages in PDF File: 28

Keywords: Islamic banking, risk management, Islamic Financial Services Board

JEL Classification: E58, G18, P51

working papers series


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Date posted: February 6, 2006  

Suggested Citation

Sundararajan, V. and Errico, Luca, Islamic Financial Institutions and Products in the Global Financial System: Key Issues in Risk Management and Challenges Ahead (November 2002). IMF Working Paper, Vol. , pp. 1-28, 2002. Available at SSRN: http://ssrn.com/abstract=880303

Contact Information

V. Sundararajan (Contact Author)
International Monetary Fund (IMF) ( email )
700 19th Street NW
Washington, DC 20431
United States
Luca Errico
International Monetary Fund (IMF) ( email )
700 19th Street NW
Washington, DC 20431
United States
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