Siraj Finance PJSC is at the forefront of sustainable growth, digital innovation, and customer-focused risk management, utilizing a kaizen approach for continuous improvement. Yasser Kunhi, the Chief Risk Officer, emphasizes the role of AI, blockchain, and tokenisation in the company’s Digital Asset Management Strategy, enhancing offerings and building customer trust, resilience, and compliance with UAE Central Bank standards.
With a centralized risk framework guided by the board and BRCC, how is proactive risk management ensured across all departments?
Guided by the Board and Risk Council, the Enterprise Risk Management Framework (ERMF) adopts a top-down approach for structured monitoring and alignment with strategic goals. This aligns with the risk statement and predefined risk appetite. ERMF oversight spans all departments, consistently enforced and updated with regulatory changes, market dynamics, and internal reviews. The internal system actively profiles risks for timely escalation.
Siraj Finance PJSC promotes a holistic, data-driven risk management culture, integrating resilience and customer trust into operations.
How does your team address emerging risks from evolving technologies and cyber threats without hindering innovation?
We integrate risk controls into innovation processes, allowing safe experimentation. Data Science and Analytics secure data handling through efficient methods. Our innovation roadmap balances agility and security, decentralizing storage and using tokenisation when necessary. Project leads under Risk Committee oversight ensure alignment with risk and regulatory standards.
Proactive strategies include APIs, upgrades, and secure data-sharing frameworks, with ongoing monitoring and threat intelligence to mitigate cyber risks. AI, blockchain, and tokenisation in our Digital Asset Management Strategy enhance offerings, strengthening customer trust and compliance with UAE regulations.
How is Shariah compliance integrated into the overall ERMF?
Shariah compliance is a key component of our risk strategy, treated as rigorously as credit, market, and operational risks within the ERMF. Products undergo review by the Internal Shariah Supervisory Department and committee approval, ensuring alignment with Islamic principles. Regular audits, training, and monitoring maintain compliance, minimizing non-compliance risks, safeguarding reputation, and preserving customer trust and financial stability.
How do partnerships with law enforcement and regulatory bodies across Mena influence risk mitigation strategies and regulatory change anticipation?
Siraj Finance PJSC identifies customer expectations, financial resilience, and data protection as crucial risk areas over the next 3–5 years. Customers seek trust, transparency, and long-term commitment, addressed through refined segmentation across SMEs, corporates, and retail clients.
Best practices and a strong risk appetite are embedded across functions, promoting growth through a Risk-Based Approach aligned with the National Risk Assessment. Capital and liquidity ratios are strengthened to reduce NPLs and enhance resilience. Guided by visionary leadership, Siraj Finance PJSC is poised for sustainable growth, digital innovation, and customer awareness in risk management practices.
Which risk management areas are crucial for the next 3–5 years, and how is Siraj Finance PJSC preparing to address them while maintaining growth and customer trust?
Collaboration with law enforcement and regulatory bodies across Mena has reshaped Siraj Finance PJSC’s risk mitigation strategies. While UAE Central Bank regulations are clear, implementation varies due to cultural and market differences.
Partnerships provide early insights into regulatory developments, enabling proactive adjustments. Overlapping activities between financial companies and banks require recalibration of risk levels. By refining sector-specific risk management, we support the UAE’s digital and diversification goals, enhancing financial inclusion and confidence for long-term resilience.
