Risk Management Guidelines For Islamic Banking By State Bank Of Pakistan

Posted by admin on Jul 15, 2009

Draft Risk Management Guidelines for Islamic Banking Institutions BY State Bank Of Pakistan ( Click on the link for more Info)

IMF says world starting to pull out of recession

Posted by admin on Jul 9, 2009

WASHINGTON – The International Monetary Fund (IMF) said Wednesday that the global economy is beginning to pull out of the worst recession since the end of the World War II, but stabilisation is uneven and the recovery is expected to be sluggish.

The IMF released its updated report on World Economic Outlook (WEO), projecting that the global output in 2009 will contract 1.4 percent, about 0.1 percentage points lower than projected in the April 2009 but the growth in 2010 will reach 2.5 percent, 0.6 percentage higher than the previous projection.

It also said the risks to the global financial system have moderated from the extreme levels identified in the April 2009 Global Financial Stability Report (GFSR), but vulnerabilities remain and exit strategies from the financial support policies need to be considered. “The global financial conditions have improved, as unprecedented policy intervention has reduced the risk of systemic collapse and expectations of economic recovery have risen,” the IMF said in its updated GFSR.

The interventions undertaken by central banks and governments worldwide have reduced the tail risk of another systemic failure similar to the collapse of Lehman Brothers, it said.

However, the financial sector continues to be dependent on significant public support, resulting in an unparalleled transfer of risk from the private to the public sector.

“Work will need to begin on exit strategies from the various financial, monetary, and fiscal support policies in order to address market uncertainty,” the Fund said. “Medium-term policies need to ensure that steps taken to normalise policies and markets are consistent with establishing a lasting framework of sound financial regulation, sustainable fiscal balances, and the maintenance of price stability.”
The IMF suggested that at this critical stage of emerging from the crisis, policy makers need to safeguard the gains made thus far. Both the unprecedented scope of the crisis and the measures taken to contain it will require a comparable policy response

New interim head at Risk Management

Posted by admin on Jul 9, 2009

W. Kendall Chalk, former senior executive vice president and chief credit officer of BB&T, a large regional bank based in Winston-Salem, N.C., has been appointed interim president and CEO of the Risk Management Association (RMA) beginning Tuesday.

Chalk replaces Kevin M. Blakely, who said last month that he would leave RMA to become chief risk officer of Huntington Bancshares in Columbus, Ohio.

RMA board chair Sonny B. Lyles, executive vice president and chief risk officer of Sterling Bank in Houston, said the board wanted to ensure that RMA has a continuity of leadership while it searches for a permanent CEO.

“We asked Ken to take a short break from his retirement to guide RMA as it addresses risk issues during these challenging times,” Lyles said.

“As we re-examine the risk management practices of the last several years, it is vital to the financial services industry that we learn from our successes and failures,” Chalk said.

Chalk has been an active member of RMA throughout his career. He joined RMA’s Carolinas-Virginias Chapter in 1976 and later served as its president. On the national level, he served as board chair in 2005, following four years as a board member. He also chaired the Credit Risk Management Council from 1995-1997.

After having served as chief credit officer of BB&T for 25 years, Chalk retired last September. He played a role in BB&T’s transformation from a one-time eastern North Carolina farm bank into the nation’s 10th largest financial holding company.

He is immediate past chairman of the East Carolina University Foundation and is co-chair of the BB&T Center for Leadership Development at ECU.

Chalk earned both his bachelor’s and master’s degrees in business administration from East Carolina University. He also is a graduate of the Stonier Graduate School of Banking at Rutgers University.

Founded in 1914, Philadelphia-based Risk Management Association is a nonprofit, member-driven professional association whose sole purpose is to advance the use of sound risk principles in the financial services industry. RMA has 3,000 institutional members that include banks of all sizes as well as nonbank financial institutions

Under Developement

Posted by admin on Apr 11, 2009

Page Under Developement