ENTERPRISE RISK8 October 2026 · 1 min read

Shari’a-Compliant Consumer Lending and Risk Classification

A conceptual white paper on how Murabaha, Ijara and Tawarruq structures affect PD, LGD, EAD and model governance in Shari'a-compliant consumer lending.

Fayyaz AhmadFounder and Principal, Keel Pragma

Structural Differences in Scorecard Design, Risk Measurement, and Portfolio Governance

Keel Pragma White Paper

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About the author

Fayyaz Ahmad is the Founder and Principal of Keel Pragma. He has spent 27 years in senior risk leadership at global and leading regional institutions, building and running ERM, governance and GRC frameworks.

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