Financial institutions are transforming themselves to address emerging market challenges and optimize their offerings for greater cost efficiency and improved performance today. Islamic banks are no different.

To provide differentiated customer service, scale operations to meet global competition, and grow market share, Islamic banks are proactively reinventing their products and business models. Additionally, there is a need to comply with Sharia laws and address risks specific to Islamic banking.

i-flex Consulting's risk management practice provides end-to-end risk and compliance management solutions encompassing credit, market and operational risks. Our expertise also extends to regulatory compliance for Sarbanes Oxley Act (SOX), Anti-Money Laundering (AML), IFSB, and other global requirements for financial controls.

Our offerings include:

	Assessing readiness for Basel II/ IFSB guidelines/ Central Banking guidelines. The assessment covers data gaps, business gaps, policy, governance and organization structures
	Developing risk management processes for profit sharing, loss sharing and profit and loss sharing Islamic banking products
	Analyzing and managing credit, market and operational risks in Islamic banking products from the Islamic Financial Services Board (IFSB) perspective and risk management best practices
	Developing approaches and models for measuring exposures, default probability and collaterals for Sharia compliant financing and investment instruments
	Developing frameworks and measurements for operational and market risks
	Defining RCSA and KRIs for operational risks
	Building an appropriate risk and control library for operational risk and obligation and control library for compliance
	Develop and implement compliance plans and monitoring programs
	Assisting banks to comply with regulatory and pillar II requirements (ICAAP) of Basel II Training workshops in - analysis, risk assessment and risk mitigation in Islamic banking products, credit derivatives, risk analytics, ICAAP, and IFSB/Basel II

We have developed baselines for risk management approaches for financing and investment instruments, including risk control and obligation libraries for operational risk and compliance.

Our consultants help Islamic banks achieve the desired level of maturity in their risk management functions, devise architecture, frame policies, analytics and processes, and establish an integrated risk management framework compliant with the Sharia laws.

Caselets

Contact us to know more.