Purpose – The purpose of this paper is to provide an insight into the differences in the risk management practices of Islamic financial institutions (IFI) and conventional financial institutions (CFI) in Pakistan. Design/methodology/approach – The study makes use of primary data collection...

Purpose – The purpose of this paper is to examine the determinants of operational losses in insurance companies. Design/methodology/approach – By using most common estimates of frequency and severity of losses that affected business-lines during 2009, the paper integrates a quantitative...

Purpose – The purpose of this paper is to introduce the zero-modified distributions in the calculation of operational value-at-risk. Design/methodology/approach – This kind of distributions is preferred when excess of zeroes is observed. In operational risk, this phenomenon may be due to the...