Legal risk exposure in Islamic finance

Publication Type

Book Chapter

Version

publishedVersion

Publication Date

1-2013

Abstract

In the post-crisis environment of the past few years (since 2007-2008), risk avoidance and the management of risk have both become an increasingly prominent feature of the finance landscape. Financial institutions and regulators are today much more sensitive to the various potential areas of risk and, especially, risk contagion. At broader industry levels, this has led to new accounting standards and requirements for capital adequacy, liquidity, and leverage. Within individual financial institutions, better risk analysis and management mechanisms are being implemented, and even structural changes are occurring as many financial institutions recognise the need for risk management to move from a “ back office ” function often loosely parked within the credit unit, to a “ middle office ” function with a unified and more clearly defined enterprise-wide responsibility for not only credit risk but also operational risk, liquidity risk, market risk, legal risk, and myriad other risk exposures.

Discipline

Commercial Law | Religion Law

Research Areas

Corporate, Finance and Securities Law

Publication

Islamic finance the new regulatory challenge

Editor

Simon Archer and Rifaat Ahmed Abdel Karim

First Page

225

Last Page

235

ISBN

9781118247068

Publisher

Wiley

City or Country

Singapore

Additional URL

https://worldcat.org/isbn/9781118247068

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