Risk Management in Islamic Finance

This course seeks to equip participants with the knowledge and skills to manage risk in Islamic finance transactions.  Covering both Shariah compliance risks as well operational risks in Islamic finance transactions, the course will take a practical approach and will cover the following issues:

Concept of Shariah and Shariah Non-Compliance Risk Fundamentals

  • Shariah Fundamentals
  • Concept of Risk
  • Shariah Non-Compliance Risk

Risk Elements of Shariah Non-Compliance; Overview of Conventional Market Risks

  • Credit, Market, Liquidity, and Operational Risks
  • Islamic Finance Institutions’ Risks
  • case Studies: Leading Causes of Shariah Non-Compliance Risks in Islamic Finance Operations

Tools to Develop and Maintain Transparent Shariah Compliant Risk Management

  • Overview of Basel III, IFSB (Islamic Financial Services Board), AAOIFI (Accounting & Auditing Organization for Islamic Finance), and ISO
  • Design and Develop Framework for Islamic Finance
  • Risk Identification and Management Techniques

Performance-Based Identification of Risks and Management Techniques

  • Implementation of Key Risk Indicators (KRIs)
  • Quantifying the Magnitude and Frequency of Loss
  • Enterprise Risk Management (ERM) Framework : Adoption and Organizational Performance



Rafee Salleh
AVP (International Business & Licensing)
Email: rafee@ssagroup.com
DID: +65 6632 9530


Date: TBC
Timing: 9 AM – 5 PM
Venue: Lifelong Learning Institute


Singapore Islamic Finance Academy (SIFA) is the first Islamic Finance accademy in Singapore — working closely with the renowned IBFIM in Malaysia. Send us your inquiries and we will get back to you shortly.

For corporate enquiries, contact us at

Tel: +65 6632 9530