REDmoney online brings you a short, concise digital course allowing you to identify, understand and manage risk in Islamic banking in an accessible and user-friendly manner. The course is made up of five stand alone modules, plus assessment and reference materials. Designed and delivered by Dr Ken Baldwin, former Director, Financial Policies & Planning at the Islamic Development Bank in Jeddah, the course will benefit a wide range of team members from multiple departments.
Risk management is similar for all banks and financial institutions, the objective being to identify and prevent unwanted change.
Islamic banks therefore require a formalized risk management framework to identify, measure and control risk. How is this done? What are the risks and are they the same as for a conventional bank? Are Islamic banks exposed to interest rate risk, and can they use financial instruments to transfer risk? What is risk sharing? These are key questions that should be considered by almost anyone working for an Islamic bank, regardless of their function – to be aware of the risks their institution is exposed to and how they can be identified and managed.
This online course examines these key concepts and will answer the questions above. The course duration is between two and three hours, including assessment. At any point, a module may be replayed and reviewed, and the course can be revisited as many times as required. Progress and completion rates can be effectively monitored.
Module One: Introduction to Risk Management
Module Two: Is Islamic Banking Safer than Conventional Banking?
Module Three: What Types of Risks are Islamic Banks Exposed to?
Module Four: What Types of Risks are Sukuk Exposed to?
Module Five: Conclusion
The online course will allow users a good understanding of the following important topics:
This course has been specifically designed for the following: