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The growth of Islamic banking increases operational complexity and exposure to operational risk, yet the effect of financial ratios on operational risk is rarely tested. This study examines the influence of operational efficiency (BOPO), capital adequacy (CAR), and non-performing financing (NPF) on the operational risk of Islamic Commercial Banks in Indonesia during 2021–2025. Operational risk is proxied by the ratio of operational risk-weighted assets (RWA) to total RWA. Using a quantitative associative causal design, the study draws on secondary data from bank annual reports and publications of the Financial Services Authority (OJK). Eleven banks were selected through purposive sampling over five years, forming a balanced panel of 55 observations analyzed in EViews 13. The Chow and Hausman tests favor the Fixed Effect Model. BOPO has a negative and significant effect (coefficient −0.034; p = 0.0138), CAR has a positive and significant effect (coefficient 0.116; p = 0.0000), while NPF has no significant effect (p = 0.5977). Jointly, the three variables are significant. However, the sensitivity test shows that the effects of BOPO and CAR depend on the presence of Bank Aladin Syariah in the sample, and their signs may partly reflect the RWA calculation mechanism rather than managerial behavior alone. The findings should therefore be interpreted with caution.
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Azizah et al. (2026) studied this question.
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