Risk traditionally means possibility of meeting danger or suffering, harm or loss. Risk is an element of life in this world for being ignorant of the future. Muslims are asked to work hard in order to be able to change their conditions as obvious in the verse of Holy Quran, “… Verily never will Allah change the condition of a people until they change it themselves (with their own souls)…” (Qur’an 3:11). However, it is true that only Allah knows one’s future and fate, Muslims should strive to achieve the goodness in this world and the hereafter. Submission to Allah, of course, has a positive effect on human behavior. For it will lead to peace and contentment. Undoubtedly, one has to submit every single thing to Allah, but it supposes to be after his hands stretch out to do the best effort as he can, to change himself, so that he would be able to manage and to cope with unforeseen calamities or misfortune.

Prophet Muhammad peace be upon him once asked a Bedouin who had left his camel untied, “Why do not tie your camel?” the Bedouin answered, ” I put my trust in Allah” the prophet then said, “tie up your camel first then put your trust in Allah”( Sunan al -Tirmizi, vol.4, No. 2517, p. 668). This conversation depicts not only how should Muslims accept their fate but it also indicates how do Muslims reduce the risk of loss and calamities.

Qur’an has presented stories of the previous prophets so that Muslims can take the lessons from their experiences. The story of the Prophet Joseph, for instance, tells us about financial planning. The story of Prophet Ya’qub, Joseph’s father, tells us about the management of risks as Ya’qub commanded his sons to enter Egypt from different gates. Qur’an states, “Further he said: “O my sons! Enter not all by one gate: enter ye by different gates. Not that I can profit you aught against Allah (with my advice): None can command except Allah: On Him do I put my trust: and let all that trust put their trust on Him” (Qur’an 12:67).

The history of the Prophet’s migration to Madinah gives us other lessons on how the Prophet (SAW) managed the risk. The Prophet reduced the risk of getting killed by asking Hazrat Ali (R.A.) to sleep in his bed during the night of emigration. It was reported that as night advanced, the Quraish posted assassins around the Prophet’s house. Thus they kept vigil all night long, waiting to kill him the moment he left his house early in the morning, peeping now and then through a hole in the door to make sure that he was still lying in his bed.

All these above examples depict that risk management is in the roots of Islam. We, as a Muslims, should put our trust onto Allah together with making use of all the available resources.