OFIS-RISK™
Islamic Finance Risk Assessment Framework
Integrate Shariah non-compliance risk into the institution's enterprise risk taxonomy alongside credit, market, liquidity, operational and reputational risk.
OFIS-RISK™
Scope
- Shariah Non-Compliance Risk (SNCR)
- Displaced Commercial Risk (DCR)
- Equity Investment Risk (Muḍārabah / Mushārakah)
- Rate-of-Return Risk
- Inventory & Asset Risk (Murābaḥah, Ijārah, Istisnāʿ)
Deliverables
- Shariah risk register
- KRI dashboard
- Board risk-appetite statement (Shariah)
- Annual stress-test report
Scoring Dimensions
Weighted Assessment Model
| Dimension | Weight | Description |
|---|---|---|
| Risk Identification | 20% | Mapping of Shariah-specific risks to product taxonomy. |
| Risk Measurement | 25% | Quantitative and qualitative measurement methodologies. |
| Risk Mitigation | 25% | Policies, limits and controls per risk class. |
| Risk Monitoring & Reporting | 30% | KRIs, dashboards, board reporting cadence. |
| Total | 100% |
Part of the Onike Framework Ecosystem
OFIS™ · Onike Framework for Islamic Finance
Reviewed and Approved by Abdul-Azeez Onike Morufu — Registered Shariah Adviser, Securities Commission Malaysia
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