 Bismillah ar-Rahman ar-Rahim. As-salamu alaikum. My name is Umar Saeed. I'm a fellow member of ACCA and chartered financial analysts. I have more than 18 years of diversified work experience, both in public and private sector. I have been engaged in teaching for the last 12 years. This area of our financial risk management is a very diversified course and really having many topics will be covered in great depth. It's current need of the regime that we need to learn about these techniques because risk management is one of the integral part in current work. So as I just mentioned we will be discussing many topics and many areas. So initially I'll give you a roadmap that what are the areas we will be studying in this whole course. We'll make sure that once we are done with this course all areas are well understood by all of us. We need not to worry about these topics because we will be studying them in great depth. So I'll just present you a roadmap for this course. Our first module will be introduction to financial risk management. In this we'll having a great in depth understanding of the basic concepts, definitions, how the risk management evolved, what was the history of this and at the same time how risks are being mired and taken care will be reflected in this module. In second module we'll be talking a very important sector of our this course that is derivatives. Derivatives are the most important learning outcomes of this particular course. In derivatives we'll be learning what are the derivatives, what are the types of derivatives being available, how they are being calculated, what are the application, what is the practical utility of those and we'll be discussing multiple derivatives being used in market. For example we'll be discussing about futures and forward so we'll be discussing a lot of that in this particular area. Then in the later module we'll move to advanced risk management strategies. This is a elevated level of what we have discussed in first two modules. Here we'll be learning about key strategies, how risks can be used, how risks can be materialized, how risks can be managed to make benefit out of them. So here we'll be like specifically focusing devising strategies to work it out and making benefit out of it. And at the same time applying them to different sectors, applying them to different environments will be learned in this area. These are just brief glimpses of what we'll be discussing. Actually modules will have multiple topics and multiple areas to be learned from. Then we'll move to quantitative concepts related to risk management. Quantitative you must have studied, quantitative in your prior, another simple word you must have studied statistics. So here we will be applying statistics in context of risk management, portfolio management, how that is being used, how that is applied in the financial world. So here our focus will be, for example, we'll be studying Monte Carlo simulation. You need not to worry about these words, we'll be spending a lot of time on these. But for your understanding, we make sure that once we are done with the course, our whole roadmap is pretty captured. We should, once we are done with the course, do remember to come back to these slides and make a tick for yourself that we have covered them or not. So that will be a check for you for your whole learning. And we'll be also applying a lot many illustrations for the statistical models and in other modules as well. Next will be another important area that will be portfolio risk management. Risk in isolation is required to be learned, but the core application applies when we go for risk management in the context of portfolio. When I say portfolio, we mean a combination of multiple assets, maybe of same type or it could be of different type. For example, we have one share, that's just one investment. If we have five shares, that's it's a portfolio. And in my case, it could be five share as well as five bonds. And again, it's a more diversified portfolio. So we will be applying risk management in portfolio because in portfolio need for risk management is even higher. Similarly, in that context, we will be learning what are the key concepts, how risks are being measured, specifically with respect to portfolio, what are the benefits, what are the types, we'll be studying them in great depth. For example, we'll be studying multiple factors model. There may be single factor, we have discussed CAPM or anything in your previous studies. Here we'll be applying more than one factors and applying them to the portfolio context and making returns and risk out of that. Our next volume will be advanced risk management. This is a development of the pre area and addition of the new stuff. Here we'll be discussing about my area of risk, which are of current regime. For example, value at risk. It may be a new word for you and we need not to worry about that. We'll be starting that in great depth. This is the emerging concept and it's being applied worldwide, majorly in all financial institutions, especially banks, asset management companies, they rely on this to a very great extent. So we'll be learning that in great depth, what is where, how it is calculated. We can call it war, we can call it war. Both ways sounds fine. We can even call it VAR. So here we'll be learning how where is calculated, what are its application. Then we'll be applying it and learning of the capital markets. There is another important area that is efficient market hypothesis. We'll be learning what are the perfect markets, what are the types of markets available, how things are being calculated, how we forecast. So here we'll be learning in this particular module. Then to a common man, this unit, this section is very relevant. That is Kiran Siris. Everyone must have heard of this factor that the dollar price, the dollar is expensive, the dollar is low. This leads us to a link with everyone. Or at least you must have heard of this from your parents or family members. So that too is an integral part of currency risk management. And for us, for every type of business, this is very important. So here we'll be understanding what is the currency risk management, how it is impact. For example, let me talk, you import some things. And at the time of import, the currency rate is 130. And you have an option that you pay it after three months. So when the payment time came after three months, and now when you have to pay by purchasing the dollar, then that, at that time, the rate has increased, like it has been high for the last few days. The rate moved up to 140. So that means you'll end up paying a very big amount compared to what you entered in the beginning. So here the work of risk management is how to capture it, how to forecast it, how to mitigate these. In this, we will also do hedging. How to end this risk first, how to understand it, then how to hedge it out, how to structure it, how to take care of that. Some people are earning from the currency. So that is another tool of that, that we can trade in currency to make money out of it. You can be bullish on one currency. You feel that Saudi real can go up a lot. So you can take exposure on that. So in that case, you are more like making investment for return. You are not actually a hedger. You are a kind of a speculator who is entering for profit. Then our last module, which is definitely not, we are not mentioning all the topics. We have multiple topics, but the main core area will be enterprise risk management. This is a latest emergent concept where the advanced technologies of risk management are being applied. Here we take use of more computer technologies, use of more peripherals, in which an overall enterprise level of risk is structured. We are not talking about just business transaction or we are talking about the functioning of the overall organization. So our aim here will be to learn the risk management from the horizon of the whole enterprise. So we will be discussing strategies and policies which are being dealt in there. Rest we will be discussing in the next topic. Thank you.