MANAGING RISK IN THE MODERN ERA: RISK MANAGEMENT PRACTICES IN ISLAMIC BANKING

Azizah Khairunnisa, Intan Suwandi, Novi Amalia Atami, Mutia Khairani, Ahmad Shandy, Muhammad Heru Ghibran

Abstract


This literature study aims to analyze the risk management practices of Islamic banking in this modern era. This is discussed in the context of data taken from books, scientific journals, research reports, and recent articles that reveal that Islamic banking faces all kinds of unique risks, including Shariah compliance, operational, liquidity, and technological risks. The modern, digital and global era has also given rise to new threats in cybersecurity and a constantly changing regulatory environment. Therefore, a holistic and innovative risk management approach is needed that will integrate Shariah principles with the help of artificial intelligence and blockchain technology. Furthermore, effective management integration of all operational units of Islamic banking is needed to ensure stability and sustainability in an environment characterized by changing dynamics.


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DOI: https://doi.org/10.3059/insis.v0i0.23499

DOI (PDF): https://doi.org/10.3059/insis.v0i0.23499.g12910

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