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Big data technology in shari’ah compliance risk management (SCRM): a view of information technology in Islamic finance risk management

The global Islamic finance sector is booming and is likely to sustain a stable growth. With many Islamic Finance products introduced over the years, the demand in studying risk pertaining to Islamic finance product is becoming a major concern. The main reason to manage risk is to attain the organiza...

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Main Authors: Ridhwan, Muhammad Saiful, Khairuddin, Nur Dini, Suhaimi, Mohd Adam
Format: Article
Language:English
Published: International Association of Islamic Banks 2014
Subjects:
T Technology (General)
Online Access:http://irep.iium.edu.my/72056/7/72056%20Big%20Data%20Technology.pdf
http://irep.iium.edu.my/72056/
http://islamicbanking.asia/July-Sept-2014.pdf
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spelling my.iium.irep.720562019-07-12T01:50:49Z http://irep.iium.edu.my/72056/ Big data technology in shari’ah compliance risk management (SCRM): a view of information technology in Islamic finance risk management Ridhwan, Muhammad Saiful Khairuddin, Nur Dini Suhaimi, Mohd Adam T Technology (General) The global Islamic finance sector is booming and is likely to sustain a stable growth. With many Islamic Finance products introduced over the years, the demand in studying risk pertaining to Islamic finance product is becoming a major concern. The main reason to manage risk is to attain the organizations’ objectives on financial stability. In Islamic finance the risk is much further than just financial itself because we have to look into activities related to the Islamic Finance existence. These activities related to Islamic Finance must abide by the Shari’ah law. Thus, the Shari’ah non-compliance is a unique risk for Islamic finance which needs a special risk management apart from typical risk management of conventional finance. From Information Technology point of view this problem can be addressed by implementing Big Data technology in risk management systems. This will enable financial bodies to identify the breach of Shari’ah law in the Islamic Finance activities. Big Data technology have the ability to perform analysis of vast amounts of information that can be converted into decision making and priority of impact level in risk event. Adopting Big Data technology in risk management, opens a new door to Financial Risk Management techniques with primarily focuses on Islamic finance. International Association of Islamic Banks 2014-07 Article PeerReviewed application/pdf en http://irep.iium.edu.my/72056/7/72056%20Big%20Data%20Technology.pdf Ridhwan, Muhammad Saiful and Khairuddin, Nur Dini and Suhaimi, Mohd Adam (2014) Big data technology in shari’ah compliance risk management (SCRM): a view of information technology in Islamic finance risk management. Journal of Islamic Banking and Finance, 31 (3 (July-September)). pp. 84-97. ISSN 1814-8042 http://islamicbanking.asia/July-Sept-2014.pdf
institution Universiti Islam Antarabangsa Malaysia
building IIUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider International Islamic University Malaysia
content_source IIUM Repository (IREP)
url_provider http://irep.iium.edu.my/
language English
topic T Technology (General)
spellingShingle T Technology (General)
Ridhwan, Muhammad Saiful
Khairuddin, Nur Dini
Suhaimi, Mohd Adam
Big data technology in shari’ah compliance risk management (SCRM): a view of information technology in Islamic finance risk management
description The global Islamic finance sector is booming and is likely to sustain a stable growth. With many Islamic Finance products introduced over the years, the demand in studying risk pertaining to Islamic finance product is becoming a major concern. The main reason to manage risk is to attain the organizations’ objectives on financial stability. In Islamic finance the risk is much further than just financial itself because we have to look into activities related to the Islamic Finance existence. These activities related to Islamic Finance must abide by the Shari’ah law. Thus, the Shari’ah non-compliance is a unique risk for Islamic finance which needs a special risk management apart from typical risk management of conventional finance. From Information Technology point of view this problem can be addressed by implementing Big Data technology in risk management systems. This will enable financial bodies to identify the breach of Shari’ah law in the Islamic Finance activities. Big Data technology have the ability to perform analysis of vast amounts of information that can be converted into decision making and priority of impact level in risk event. Adopting Big Data technology in risk management, opens a new door to Financial Risk Management techniques with primarily focuses on Islamic finance.
format Article
author Ridhwan, Muhammad Saiful
Khairuddin, Nur Dini
Suhaimi, Mohd Adam
author_facet Ridhwan, Muhammad Saiful
Khairuddin, Nur Dini
Suhaimi, Mohd Adam
author_sort Ridhwan, Muhammad Saiful
title Big data technology in shari’ah compliance risk management (SCRM): a view of information technology in Islamic finance risk management
title_short Big data technology in shari’ah compliance risk management (SCRM): a view of information technology in Islamic finance risk management
title_full Big data technology in shari’ah compliance risk management (SCRM): a view of information technology in Islamic finance risk management
title_fullStr Big data technology in shari’ah compliance risk management (SCRM): a view of information technology in Islamic finance risk management
title_full_unstemmed Big data technology in shari’ah compliance risk management (SCRM): a view of information technology in Islamic finance risk management
title_sort big data technology in shari’ah compliance risk management (scrm): a view of information technology in islamic finance risk management
publisher International Association of Islamic Banks
publishDate 2014
url http://irep.iium.edu.my/72056/7/72056%20Big%20Data%20Technology.pdf
http://irep.iium.edu.my/72056/
http://islamicbanking.asia/July-Sept-2014.pdf
_version_ 1643620086946201600
score 13.211869

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