إدارة مخاطر الائتمان في عمليات التمويل في المصارف الإسلامية

Abstract

The aim of this study is to investigate the management of credit risk in the financing operations of Islamic banks. It is one of the vital topics in the management of Islamic banks and critical to promoting their further development. The study proceeds from a central problem, embodied in answers to the questions of how Shari’ah compliant the framework by which Islamic banks manage risks, and how effective is it for financing operations. The study adopts a descriptive methodology in presenting the conceptual frameworks for both conventional and Islamic risk management, their major types, and the most important components of managing the risks entailed in the operations of conventional and Islamic banks. It also employs a methodology of analytic comparison by comparing and analyzing the standards and guidelines issued by international institutions concerned with the issue of managing credit risks, such as the Basel Committee, the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and the Islamic Financial Services Board. The research has also employed field studies of credit risk management practices by interviewing a number of specialists in Islamic finance to investigate the most important aspects of credit risk management. The study arrived at a number of conclusions; the most important are: first, although the management of credit risk is not mentioned per se in the books of classical fiqh, it is not missing from the fiqh principles that classical scholars formulated or from their practical applications. Second, the management of credit risk in Islamic banks coincides with that of their conventional counterparts, the area of difference being limited to the area of Shariah risks, i.e., the risks associated with Shariah compliance. Third, the basic principles of credit risk management are consistent, in general, with Shariah principles in that it safeguards one of the five major objectives of the Shariah: the preservation of wealth.