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SAMA holds a workshop on "Credit Risk in Islamic Banking”
11/21/2019 12:00 AM

            

 

                    

 

      The Saudi Arabian Monetary Authority (SAMA), in cooperation with the World Bank, held a training workshop entitled "Credit Risk in Islamic Banking" in Riyadh on Wednesday, 20 November 2019, in a series of workshops sponsored by SAMA aiming at building Islamic financial competencies.

      The workshop, which lasted for a day, witnessed the participation of nearly thirty employees from different departments of the institution. The workshop aimed to identify the risks related to the Islamic banking industry in general and credit risk in detail and the mechanism of its measurement and the impact of such risks on Islamic banks. The standards issued by the Islamic Financial Services Board related to the banking sector were discussed in detail, including the Capital Adequacy Standard and the Standard Principles for the Supervision of the Islamic Banking Sector.

    The workshop included a number of relevant practical applications and international best practices in this context, which contributed to broaden participants' understanding. The workshop also addressed the main elements of the International Financial Reporting Standards (IFRS) and their compliance with the accounting standards issued by the Audit and Accounting Organization for Islamic Financial Institutions.

    SAMA partnership with international organizations such as the World Bank and the Islamic Financial Services Board is aimed at joint research and capacity building in Islamic finance.

 

                     

                                         

                    

                    

                    

                    

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