Risk Management Approach to Financial Cybersecurity in Islamic Banks: A Review

As the financial industry increasingly relies on digital infrastructures, the risk of cyberattacks on financial institutions is rapidly increasing. This paper analyzes the cyber threats and vulnerabilities in the Islamic finance sector and examines the role of risk management in mitigating these risks. The research paper emphasizes the importance of risk management in Islamic finance and presents a practical 5-step conceptual framework. This framework guides financial organizations in identifying potential risks, developing tailored controls, implementing mon-itoring systems and promoting continuous improvement.