Majid Malaika's Books

Quantum Computing and the Financial System: Spooky Action at a Distance?

By: International Monetary Fund

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Quantum Computing and the Financial System: Spooky Action at a Distance?

By: International Monetary Fund

The era of quantum computing is about to begin, with profound implications for the global economy and the financial system. Rapid development of quantum computing brings both benefits and risks. Quantum computers can revolutionize industries and fields that require significant computing power, including modeling financial markets, designing new effective medicines and vaccines, and empowering artificial intelligence, as well as creating a new and secure way of communication (quantum Internet). But they would also crack many of the current encryption algorithms and threaten financial stability by compromising the security of mobile banking, e-commerce, fintech, digital currencies, and Internet information exchange. While the work on quantum-safe encryption is still in progress, financial institutions should take steps now to prepare for the cryptographic transition, by assessing future and retroactive risks from quantum computers, taking an inventory of their cryptographic algorithms (especially public keys), and building cryptographic agility to improve the overall cybersecurity resilience.

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International Monetary Fund

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ISBN 10

1513572725

ISBN 13

9781513572727

A Survey of Research on Retail Central Bank Digital Currency

By: Mr.John Kiff,Jihad Alwazir,Sonja Davidovic,Aquiles Farias,Mr.Ashraf Khan,Mr.Tanai Khiaonarong,Majid Malaika,Mr.Hunter K Monroe,Nobu Sugimoto,Hervé Tourpe,Peter Zhou

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A Survey of Research on Retail Central Bank Digital Currency

By: Mr.John Kiff,Jihad Alwazir,Sonja Davidovic,Aquiles Farias,Mr.Ashraf Khan,Mr.Tanai Khiaonarong,Majid Malaika,Mr.Hunter K Monroe,Nobu Sugimoto,Hervé Tourpe,Peter Zhou

This paper examines key considerations around central bank digital currency (CBDC) for use by the general public, based on a comprehensive review of recent research, central bank experiments, and ongoing discussions among stakeholders. It looks at the reasons why central banks are exploring retail CBDC issuance, policy and design considerations; legal, governance and regulatory perspectives; plus cybersecurity and other risk considerations. This paper makes a contribution to the CBDC literature by suggesting a structured framework to organize discussions on whether or not to issue CBDC, with an operational focus and a project management perspective.

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International Monetary Fund

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ISBN 10

151354778X

ISBN 13

9781513547787

Central Bank Risk Management, Fintech, and Cybersecurity

By: Mr. Ashraf Khan,Majid Malaika

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Central Bank Risk Management, Fintech, and Cybersecurity

By: Mr. Ashraf Khan,Majid Malaika

Based on technical assistance to central banks by the IMF’s Monetary and Capital Markets Department and Information Technology Department, this paper examines fintech and the related area of cybersecurity from the perspective of central bank risk management. The paper draws on findings from the IMF Article IV Database, selected FSAP and country cases, and gives examples of central bank risks related to fintech and cybersecurity. The paper highlights that fintech- and cybersecurity-related risks for central banks should be addressed by operationalizing sound internal risk management by establishing and strengthening an integrated risk management approach throughout the organization, including a dedicated risk management unit, ongoing sensitizing and training of Board members and staff, clear reporting lines, assessing cyber resilience and security posture, and tying risk management into strategic planning.. Given the fast-evolving nature of such risks, central banks could make use of timely and regular inputs from external experts.

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International Monetary Fund

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1513582348

ISBN 13

9781513582344

Book's by Majid Malaika

Quantum Computing and the Financial System: Spooky Action at a Distance?

Quantum Computing and the Financial System: Spooky Action at a Distance?

A Survey of Research on Retail Central Bank Digital Currency

A Survey of Research on Retail Central Bank Digital Currency

Central Bank Risk Management, Fintech, and Cybersecurity

Central Bank Risk Management, Fintech, and Cybersecurity

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