CLICK TO WATCH : ‘ THE NEW INTERNET BANKING PLATFORM FROM ALIZZ ISLAMIC BANK ’
401 interest , Islamic lenders generate revenue from a portion of the customer ’ s profits while also sharing in any losses . “ The principal means of Islamic finance are based on trading , and it is essential that risk be involved in any mercantile activity , so banks and financial institutions will trade in Sharia-compliant investments with the money deposited by customers , sharing the risks and the profits between them ,” explains Kallur , who notes that Islamic Banking therefore has to be more risk averse . “ In an
Islamic bank , there ’ s the risk of Sharia non-compliance . If a product or a contract we commit to is not Sharia compliant , then that whole source of income is quarantined .” In addition to adapting to a new form of banking , Kallur is constantly working to identify and assess the risks that advances in digital banking may pose to Alizz .
“ With the evolution of technology , CROs are faced with increasingly dynamic challenges . Risk management functions will have to reinvent themselves and become enablers and
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