Risk management in Islamic financial institutions (literature review)

Ihyak, Muhammad, Segaf, Segaf ORCID: https://orcid.org/0000-0003-0017-1021 and Suprayitno, Eko ORCID: https://orcid.org/0000-0002-5289-3918 (2023) Risk management in Islamic financial institutions (literature review). Enrichment: Journal of Management, 13 (2). pp. 1560-1567. ISSN 2087-6327

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Abstract

In carrying out its duties and functions as a financial services entity, Islamic financial institutions must implement risk management properly, also including legal risk management. This research was conducted with the aim of knowing the legal risk management that must be applied to Islamic financial institutions. The research method used in this study is a literature study of data collection techniques with literature studies obtained from various sources. The findings of this study are that in carrying out their functions, Islamic financial institutions must understand inherent risks, in this risk there are three main factors that must be considered, namely, litigation factors, engagement weakness factors and non-statutory factors. In addition to having to pay attention to these inherent risks, Islamic financial institutions are also required to carry out sharia compliance which is directly supervised by DPS which is under DSN's supervision. This literature study research is expected to provide knowledge and an overview for Islamic financial institutions, especially staff or employees who handle legal risks in Islamic financial institutions.

Item Type: Journal Article
Keywords: Law; Risk Management; Sharia Financial Institution
Subjects: 15 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 1502 Banking, Finance and Investment > 150205 Investment and Risk Management
15 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 1502 Banking, Finance and Investment
Divisions: Faculty of Economics > Department of Islamic Banking
Depositing User: Segaf Segaf
Date Deposited: 19 Nov 2023 22:41

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