The role of risk management practices in finance as well as other sectors of the economy was stressed at a seminar on 'challenges in risk management and current trends in management education' at the Oman Chamber of Commerce and Industry (OCCI) on Sunday.
The seminar was organised by Al Osool al Arabia Co in association with the Indian Institute of Management Calcutta (IIMC), a premier management institute in India.
The seminar was held under the auspices of the chief guest Anil Wadhwa, India's ambassador to Oman, and guest of honour Abdul Adheem al Bahrani, director general of OCCI.
Speaking at the seminar, Ashok Banerjee, professor of finance, IIMC, said that the importance of risk management had been realised much after 2007 when the world economy was hit by the financial crisis.
"The importance of risk management practices has increased tremendously after the financial crisis. Risk exists not only in the financial sector but also in other sectors of the economy. This needs to be addressed to avoid disasters."
© Muscat Daily 2011
