Shari’ah Paradigm of Risk Management
Risk plan is among the personal, group or ethical responsibilities of every mankind, be one for the life, body, property or business against unpredicted catastrophe. It is a common phenomenon today that, the risk plan is adopted with effective measure in every environment of the sound world, be one mandatory or directory. Under the Shari’ah principles, the risk plan is designed as takaful (Islamic insurance) scheme to provide security against an unpredicted risk. The cryptocurrency is no exception in exposing unpredicted risks, be one against the user or the receiver due to the technical failure, capital risk or malpractices. In Halal alternative model of cryptocurrency, the takaful is the solution to its risk plan as discussed in the following chapter. An attempt is made in this chapter to analyze the Shari’ah alternative of risk management, which may also facilitate an effective risk management of cryptocurrency.