Islamic Insurance Products by Mohd Ma’Sum Billah

Author:Mohd Ma’Sum Billah
Language: eng
Format: epub
ISBN: 9783030176815
Publisher: Springer International Publishing

19.4 Conclusion

In digital currency management, there are numerous risks that may befall the user or the receiver due to capital risk, technical risk or moral hazard. In all situations, there is as yet no risk plan by any operator or provider or platform. Such weakness may hinder the sustainable growth of digital currency. For the Halal alternative digital currency model, to minimise risk, there are two categories of Takaful scheme recommended. First, the user Takaful model to provide protection against any defined risks. Second, the receiver Takaful scheme to provide protection from any unpredicted defined risk. To ensure the sustainable growth of digital currency, an effective risk plan shall be designed and thus Takaful may be an effective solution to such risk plan, particularly for Halal digital currency management.

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