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Banks’ concurrent risks during the COVID-19 pandemic: A road map for risk officers and risk management

Author

Listed:
  • Diab, Ahmed A.

    (Assistant Professor, Department of Accounting at Prince Sultan University, Saudi Arabia)

  • Metwally, Abdelmoneim

    (Lecturer at Bangor Business School, Bangor University, Bahrain)

  • Alzakari, Abdulkarim M.

    (Chief Risk Officer, Khaleeji Commercial Bank, Bahrain)

  • Fazal, Aisha

    (Senior Lecturer, College of Business and Law, British University of Bahrain (University of Salford), Bahrain)

Abstract

In the banking literature, the global financial crisis of 2008/09 is cited as one of the key challenges that faced the modern risk management profession. When we look at the current situation of the COVID-19 pandemic, however, we realise that banks worldwide are facing more concurrent risks that need interventions. This paper analyses the impact of the COVID-19 pandemic on the banking sector worldwide, focusing on emerging markets such as Bahrain. In doing so, a road map for banks’ risk managers is proposed. In particular, we present specific recommendations for local and central banks to manage the emerging risks following the pandemic, including operational resilience and increased financial, market and credit risks. Further, we provide some insights and recommendations for the Bahraini banking sector, as an example of an emerging financial market.

Suggested Citation

  • Diab, Ahmed A. & Metwally, Abdelmoneim & Alzakari, Abdulkarim M. & Fazal, Aisha, 2022. "Banks’ concurrent risks during the COVID-19 pandemic: A road map for risk officers and risk management," Journal of Risk Management in Financial Institutions, Henry Stewart Publications, vol. 15(2), pages 161-170, March.
    • Handle: RePEc:aza:rmfi00:y:2022:v:15:i:2:p:161-170
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    More about this item

    Keywords

    risk management; banks; COVID-19; financial risks; operational resilience;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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