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OUR PRACTICES
7. Our practices
ICD has institutional and governance mechanisms in place to ensure the utmost compliance with Shari’ah principles, regularity, transparency, integrity, and legality in all its activities, transactions, and operations. Our greatest priority lies in
the adherence to the highest accountability and transparency standards to ensure public confidence while delivering maximum development effectiveness.
7.1 Risk Management
The mandate and strategic focus of ICD’s risk management function is to ensure active risk management of various risks inherent in ICD’s operations, including credit, market and operational risks, thereby ensuring its long- term financial sustainability and preserving its creditworthiness.
In a world where market volatility, complexity, disruption, and technology innovations are fundamentally changing how the business
of multilateral development banks such as ICD should operate, the Risk Management function is aligned with the organizational structure
and equipped with industry best-practice
and facilitates building a high-performance and resilient organization through the development and maintenance of a comprehensive risk management framework i.e. policies, guidelines, processes, methodologies and IT systems, managing the portfolio with a specialized and dedicated team, establishing effective business continuity management and ensuring regular measurement, reporting and mitigation
of major risks inherent to ICD’s activities.
REINVIGORATING THE PRIVATE SECTOR TO SHAPE A BETTER FUTURE 57
