I read recently that Libyan leader Colonel Muammar Gaddafi has called for Muslims to declare a jihad against Switzerland. Apparently this is the result of a Swiss ban on minarets (tall spires) in the construction of mosques and nothing to do with one of Gaddafi’s son’s being arrested in 2008. Nothing.
The Colonel also noted that he would invade Switzerland if the two shared a common border. Lucky thing for the Swiss.
This got me wondering if any risk managers in Switzerland are losing sleep over this.
If you were a CRO at a Swiss bank, watch manufacturer or cheese maker, how would you deal with the jihad risk? Is that an operational risk? What sort of risk appetitive would your Board have to a jihad?
ACCEPT, AVOID, TRANSFER or MITIGATE?