Contingency risk in islamic banking
Abstract
The purpose of this study is to determine the role of risk contingencies in Islamic banking. Islamic banking, as an intermediary institution, faces various risks. Risk is the potential loss resulting from an event. Risk management is the management of risk. This study uses a literature review approach. The results show that risk contingencies play a crucial role as a substitute for risk mitigation in the event of failure and as a risk treatment option when risks are too extreme and tend to be abandoned, while small risks are left unchecked. Continuity theory states that appropriate action is taken when an event has already occurred or based on the situation. The numerous risks in banking, with its various activities, make it impossible for any risk to be abandoned, thus requiring action.
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