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- Title
Banks' concurrent risks during the COVID-19 pandemic: A road map for risk officers and risk management.
- Authors
Diab, Ahmed A.; Metwally, Abdelmoneim; AlZakari, Abdulkarim M.; Fazal, Aisha
- 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.
- Subjects
BAHRAIN; ROAD maps; COVID-19 pandemic; CENTRAL banking industry; GLOBAL Financial Crisis, 2008-2009; COMMUNITY banks; RISK management of financial institutions
- Publication
Journal of Risk Management in Financial Institutions, 2022, Vol 15, Issue 2, p161
- ISSN
1752-8887
- Publication type
Article