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  • CA-6.1 CA-6.1 Definition of Operational Risk

    • CA-6.1.1

      Operational risk is defined as the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events which includes but is not limited to, legal risk and Sharia compliance risk. This definition excludes strategic and reputational risk.

      Apr 08

    • CA-6.1.2

      Sharia compliance risk is an operational risk facing Islamic banks which can lead to non-recognition of income and resultant losses.

      Apr 08