As per Andrew Cornford (2005)[1], (FI) of developing countries have no clear
understanding regarding the operational risk and very few finance ministries have Business
Continuity & Disaster Recovery Plan, so it is suggested before developing the
infrastructure and designing the Operational Risk management & measurement
framework, (FI) authorities should understand the operational risk. Such comments by
IMF show the importance of operational risk in the eyes of (FI) of developing countries.