Islamic finance is a fast-growing sector worldwide, not just in Islamic countries. Over 250 financial institutions in 45 countries practice Islamic finance, with an annual growth rate of over 15%. The industry's turnover has grown from $5 billion in 1985 to$70 billion today, projected to reach $100 billion soon. Research has focused on the viability and operations of Islamic banks, which operate on profit-sharing rather than interest. This publication offers a comprehensive overview of risk assessment, analysis, and management in Islamic banking, emphasizing the accountability of key players in managing financial risks.