Reference no: EM132385084
GAC5013 Money Banking and Risk
Gulf College In Academic Affiliation With Cardiff Metropolitan University
FACULTY OF BUSINESS AND MANAGEMENT STUDIES
UNDERGRADUATE BUSINESS PROGRAMME
WRIT1
Programme Title: A&F
Module Title: Money Banking and Risk
Module Code: GAC5013
Module Credits: 20
Level: 5
In addition, the assessment will test the following learning outcomes:
- Identify and explain the importance of the monetary and financial system and analyse the roles and functions of financial institutions, participants and regulators within markets and evaluate how financial markets operate
- Understand the theoretical underpinnings of risk -11s causes, and methods of managing the primary business risks arising from financial markets.
Assessment Task
Economic report:
OMAN'S ISLAMIC BANKING SECTOR RECORDS 14% GROWTH
MUSCAT - OMAN continues to remain the fastest-growing Islamic banking market In the GCC region. with a recorded growth rate of 14 per cent last year. Moody's Investors Service said.
'Oman remains the fastest-growing Islamic banking market in the GCC, driven largely by the country's late entry into Islamic banking. Despite only introducing Islamic financial services in 2012, the sector now has two standalone Islamic banks and six Islamic windows at conventional banks offering Islamic services', Moody's said In Its Islamic finance sector report.
Oman's Islamic finance market share has gone from zero to around 14 per cent of banking system financing assets as of September 2018 and still has potential for further growth, the ratings agency said. Moody's said the GCC region will continue driving growth of global Islamic finance assets in 2019 with long-term prospects remain strong.
Oman's banking sector demonstrates healthy growth
Muscat: The outlook for Oman's banking sector is favorable and healthy profit growth has only been slightly tempered by the Introduction of new accounting standards, according to the second edition of the KPMG Oman Banking Perspectives report. The report examines issues and trends affecting the global banking Industry with a particular focus on Oman.
Banks risk functions are operating against a backdrop of regulatory evolution. The London Interbank Offered Rate (Libor) is being phased out, to be replaced by alternatives such as risk-free rate (RFR) benchmarks. Banks would be advised to reduce LIBOR exposures and build demand for RFR-linked products.
Operational risk also looks to be in the spotlight, given issues around anti-money laundering (AML) fines, third-party concern and cyber threat. Compliance is paramount with respect to fraud risk regulations laid out by the CBO, which enlist governance, identification and assessment, control and mitigation, business continuity management, information technology and systems, and reporting as focus areas.
Islam finance is proving to be a key growth driver, as the GCC consolidates its position as a globally significant economic hub. Continued growth may be encouraged with greater transparency, addition of more Islamic banking experts, and strengthening of the public's confidence In Scoria-compliant products and services.
Finally, sustainability reporting appears to be emerging as an essential consideration- Sustainability disclosures may help banks access new markets and implement more well-rounded risk management processes. Increasingly, stakeholders seem to expect banks to not only exceed their financial targets, but to also formulate a canny, forward-looking strategy for the long term.
From the above report, you are required to provide relevant theories In financial market and banking services, risk management, economic growth, and role and functions of financial institutions in managing business risks. The theories need to be discussed where it can be applied with the report. You are also required to study the case and attempt to write an assignment report from the following tasks based on the reports.
(a) Briefly explain general concepts of financial system and banking services of Oman.
(b) Discuss relevant theory in risk management in financial system and banking services where it can be applied with the Omani Banking system mentioned in the reports.
(c) Analyse financial system and banking services in improving economic growth based on the view of Omani Banking system mentioned in the reports.
(d) Identify four financial institutions with their roles and functions in managing business risks arising from financial markets based on the reports.
Guidelines
You are required to make a report (3,000 words) according to the requirements which meet the learning outcomes of the module. Below is the structure or outline to develop comprehensive the logical tasks:
Introduction -financial market and banking services of the reports, it provides an overview and generalization of financial and banking system in Oman (300)
Content analysis - (2,300 words)
• Provide general concepts of financial system and banking services of Oman based on the reports with appropriate in text citations (400 words)
Discuss relevant theory in risk management in financial system and banking services where it can be applied with the reports including appropriate in-text citations (700 words
• Analyse financial system and banking services in Improving economic growth based on the view of the report with appropriate in text citations (500 words)
• Identify four financial institutions with their roles and functions in managing business risks arising from financial markets based on the report with appropriate in-text citations (700 words)
Conclusion - (400 words) - it provides the summary of the analysis with logical flow of information given in the report. It should be organized and structured ideas to obtain the synthesis of the main points of the assessment task; exceptional summary of the evidences presented; profound position on the main points raised.