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CBB’s governor: Islamic financial institutions to adopt good risk managment

Posted on 24 October 2011

The Central Bank of Bahrain’s (CBB’s) governor Rasheed Al-Mi’raj called on Islamic financial institutions to learn from the experience of conventional banking institutions from the international financial crunch, increase understanding, monitor and even control, risks of liquidity, and cautioned them against the repercussions of succumbing to the same conventional financial mismanagement of short-term financial markets instrument

Mr. Al-Mi’raj said in his speech as he patronized today the sessions of the 3rd Islamic Finance and Banking Conference for the Accountancy and Auditing Authority for Islamic Financial Institutions (AAOIFI) in cooperation with the World Bank and the Central Bank of Bahrain that chiming of the bell after the shortage in liquidity and inability to offset losses incurred in the conventional financial industry has come too late and that the Islamic financial industry should beware of the need for good liquidity and risks management………………………………………Full Article: Source

 
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