I would like draw attention to one fact about UAE's strict laws without caring what they are selling or not. I was watching this thread for long time and timely read what is going on here. Based on ground realities I don't think they will take risk using UAE's name to deceive people as there is no forgiveness for such activities in local laws. I will let this comment here and based on this to judge the project.
thanks for your reply. We appreciate your opinion and attention. I just received a VIDEO MESSAGE from Mufti Faraz Adam: If it is hard to perceive by ear, then I have an approximate text. You can read:
Shariah Pronouncement – Adab Token
By Mufti Faraz Adam and Mufti Muhammad Abu Bakar
Adab Token is a Utility Token which is based on the ERC20 standard and is subject to automatic executing upon the occurrence of pre-specified conditions. It is structured and based on the following criterion of Shariah and Islamic law.
There are various types of crypto-assets such as coins, equity tokens, utility tokens, commodity tokens etc. The Shariah treatment varies depending on the nature and features of the particular crypto-asset. Since the Adab token is regarded as a utility token, our review focuses on utility tokens. Before delving on the particulars of the Adab token as a utility token, it is imperative to appreciate that tokens qualify as lawful property from an
Islamic commercial law perspective.
There is a difference of opinion among scholars with regard to the definition of Mal (wealth / property). This is primarily due to the Holy Qur’an and the Sunnah of the Prophet (peace be upon him) being silent on the matter. Hence, as per the dictates of Islamic law, Urf or customary practice is considered an important source in determining something as Mal. Scholar have opined that anything which has the following attributes can be considered as Mal:
a) It has commercial value according to customary practice or naturally desirable,
b) It is capable of being stored for the time of necessity,
c) It is capable of being possessed and owned.
In order to use something as Mal, it is also necessary after fulfilling this basic criterion that it should be Mutaqawwim. Mutaqawwim refers to something which is lawful in Shariah and has permissible uses. For instance, alcohol fulfills the basic criterion of Mal, but it is not classified as Mutaqawwim as it is not permissible according to Islamic law.
Taking into consideration this criteria of Mal Mutaqawwim, we are of the view that the Adab token fulfills this criteria. The Adab token has commercial value as each token is backed by permissible services and products offered on Islamic Cryptocurrency Exchange. Further, these tokens can be possessed through digital wallets. The Adab token is Mutaqawwim as it provides access to only Shariah complaint
services and products.
Since the Adab token is a utility token, it is of benefitto discuss utility tokens. Utility tokens are crypto-assets which derive their value from future utility. Such tokens are commonly used to raise funds for a particular project. The tokens promise certain benefits, services or rights to token holders. The Adab token functions as a utility token. It will be issued through an ICO to raise funds for the development and scaling of the Islamic Crypto Exchange. The token will be the property of its owner (token-holder) and hence token holders will be entitled to get access to the products and services of the Islamic Crypto Exchange.
Underlying Platform:
The Adab tokens give access to permissible services and products on Islamic Cryptocurrency Exchange (FICE). The proposed structure of Islamic Cryptocurrency Exchange does not allow any Shariah non-compliant securities to be traded such as conventional bonds, derivatives etc. Likewise, any Shariah non-compliant investment strategy or contract such as short-selling, margin trading and roll-over etc are also strictly profited on the platform. To ensure Shariah compliance of each facility on Adab FICE, there will be an ongoing review and audit of Adab by Shariah Supervisory Board in conjunction with the Internal Shariah Compliance Officer, Mufti Faraz Adam.
To best of our knowledge on the basis of above justification, we are of the view that participation in Adab ICO and its secondary trading is permissible.
Allah (swt) knows best.
Mufti Faraz Adam and Mufti Muhammad Abu Bakar
Shariah Advisors at Adab Solutions |
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I understand correctly that during this promotion I will receive tokens not only at a lower price, but also all the existing bonuses too? yes, correct |
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 The OP representing the so-called "islamic" "muslim" "shariah" exchange uses the disgusting language above to leave in revenge Trust just because I exposed their scam. Pathetic  because it's true  did you make some updates of your demo version?
beta version will be presented at the end of January.
Now the market is rapidly flying down. During this period, investors are not willing to risk their assets. Therefore, all young projects are going through hard times.
did developers show something about procces of their crowdsale? we are now at the stage of private sale. At this stage, this information is closed. |
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Hi there! Is there any chance we can look at the private sale smart contract? (wallet?)
hello. we still have a stage private sale. This is classified information. Come after the end of this stage and we will show you. |
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Why are you trying that hard to discourage people from investing in Adab? What is motivating you? Even if Adab is a scam, you have told your idea, why are you repeating several times? Why don't you focus on several other scam projects? Your behaviour is not normal.
Regards.
Disaimer: I am not Adab supporter. I am still studying about Adab. I am now neutral.
Thanks for your post. Don't pay attention to him. He paid a puppet. You can see that he doesn't respond to those who support the project or somehow argue with it. He simply adds everyone to the ignore and writes the same messages in a circle. I think he added you to ignore too.  You said correctly. Everyone decides to invest or not to invest. An investor before investing money should familiarize himself with the project, and not listen to someone's opinion. Investor is investing his money, not someone else. with best regards |
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I want to thank you for sending the link.
Part of the article states: ADAB Solutions sincerely believes that by following the norms of Sharia, we will be able to perform the moral and socially acceptable behavior, by exclusing all the possibilities of manipulations or speculations within business operations.
Based on this statement taken from the project information, it is my belief that the assertion here is that; because they intend to follow “Islamic Law”, that investors/clients can be assured of security and without the fear of “immoral” behaviour.
This to me is nothing more than a marketing ploy, meant to decieve investors into thinking that some type of “moral standard” exists here that is not practiced elsewhere.
It is also my understanding that the CEO/COO and Deputy CEO are not even Muslim.
Here is an example of a similar ploy perpetrated under the guise of being Shariah “compliant”. https://www.cbc.ca/news/canada/toronto/2-men-defrauded-shariah-compliant-mortgage-holders-of-millions-of-dollars-crown-tells-trial-1.4867083None of the Medium article release surprises me. I always knew these scammers just wanted money and the only way they could achieve their goal was to deceive people in to investing. The only part of the article that came as a surprise was the part where it was pointed out the Deputy CEO was linked to a case where US$1 billion were stolen from a division of Alliance Bank which is where he spent 4 years as head of global trade finance division. Thanks to the great investigation place by the Medium article author we have new information to show Adab Haraam exchange is a scam. YOU HAVE BEEN WARNED BECAUSE ADAB HARAAM EXCHANGE = SUPER SCAM !!you are either really blind and stupid or you have memory lapses. Read this post until you remember once and for all! https://bitcointalk.org/index.php?topic=4720775.msg47683111#msg47683111 |
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Q2: The 3 Team members that the owners from Kazakhstan - what is their full religious denomination? If Sunni which branch? If Shia' which branch? If anything else, which branch?
All three Kazakh members of the project are Muslims and belong to Hanafi (Sunni) school of thoughts as the majority of Kazakh people.
As for the Shariah Advisory Board of FICE, I would like to mention that the Islamic finance industry is heavily dependent on religious scholars for validation of its products and services. Each Islamic financial institution has a Shariah board to validate its operation. The scholars in our Shariah Board will represent different schools of thought within the Sunni sect of Islam. Sunnis are in majority and they follow one of the four schools of thought of Sunny Islam. The differences among them are very minor. Furthermore, a scholar who may otherwise belong to a particular school of though does refer to the opinion of the past or present scholars of a different school of thought in making a decision on the validity of a product or service.
Q4: Why did the Team decide to register in Umm Al Quwain rather than Dubai or Abu Dhabi? Why choose UAE over their native Kazakhstan or Uzbekistan?
We have registered in Umm Al Quwain, because that was an easiest and fastest way for that time to get license and resister company. Now we are considering to move to ADGM or DIFC, as we want to have well regulated jurisdiction. Early next year UAE plans to introduce comprehensive regulation on ICOs an blockchain. FICE by itself is under the process of registration in the UK, which has safe and transparent regulation for the crypto exchange and well as confidence all over the world.
Q5: Will any/all investors that participate in the ICO have to send ID for KYC/AML? If so, why?
Investor doesn’t need to send ID for KYC to participate in the ICO.
Q6: KYC is a sensitive issue for many. If the exchange is active and users sign-up and send KYC ID then which precautions are taken to ensure the ID will not be misused?
We guarantee that the data of our customers will be used only as intended. Data security will be provided at the highest level with the partnership with the best company in the world.
Q7: Both Md Mofassair Hossain and Kazi Sohel Alom have been removed from the whitepaper and the Team section of the website. What were real full reasons for their removal?
Md Mofassair Hossain and Kazi Sohel Alom were an integral part of our company for the last several months. Their contributions will always be valued and remembered. Their hard work, commitment, and dedication are worthy of admiration. We are discussing their future career objectives and, anyway, we wish them the best of luck.
Q8: At present there is no exchange, the business is just a company on paper. Adab Solutions are seeking investment. At the ICO and pre-ICO stage they are unable to fully vet investors therefore they might be getting people sending in funds from illicit, illegal and immoral sources such as prostitution.
You are not right in this sentence. ADAB Solutions is already known globally and has a recognized brand name. We already in the process of developing and registering the FICE. MVP is ready and our team of Development team is hardly working on the technical side of the FICE and Alfa version of FICE will be presented in January and final Beta version in February. We already developed Shariah screening procedures of the FICE and in a few days will present Shariah conclusion on ADAB token by Mufti Faraz Adam.
I do not know what is not clear
All three Kazakh members of the project are Muslims and belong to Hanafi (Sunni) school of thoughts as the majority of Kazakh people. As for the Shariah Advisory Board of FICE, I would like to mention that the Islamic finance industry is heavily dependent on religious scholars for validation of its products and services. Each Islamic financial institution has a Shariah board to validate its operation. The scholars in our Shariah Board will represent different schools of thought within the Sunni sect of Islam. Sunnis are in majority and they follow one of the four schools of thought of Sunny Islam. The differences among them are very minor. Furthermore, a scholar who may otherwise belong to a particular school of though does refer to the opinion of the past or present scholars of a different school of thought in making a decision on the validity of a product or service. |
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I'm really disappointed that they use religion for scam. I had a big hopes for this project pfff.
What scam? Our project is doing better than most other projects on the market. We develop a product and attract potential users of the exchange. If you have any questions, then ask them to me. Disappointed with what? so that one addict(JollyGood) writes that "the project is a scam" WITHOUT ANY EVIDENCE. So look at his messages. This is a paid puppet. Really inadequate person. I can help to contact the founder and you personally ask all the questions. with best regards has it been proven that there is no truth in this project and there is no continuation or even good news from the team.
show me this evidence. i have seen and heard about this scam accusations from some member on this forum, i do not yet if these accusations are true or false, but am waiting on the ceo if no ward from them, then we shall see.
All his accusations are lies.Write all the questions you want to ask the CEO. I will tell to him. He will answer and I will publish here. I don't know why many members see Adab as a Scam project, what is wrong with Adab? is it about their Islamic theme platform? and many people don't like it? I think the CEO must respond to this!
thank. We really work and develop the project. Everything else is a fiction of one abnormal. CEO will not be able to come here. You can ask questions to me. I will tell him. |
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Something fishy on this thread, maybe we need more deep investigation about this one before it's too late. The account of whitetoo is on danger zone if this accusation is true, hope not. Til now, I'm in the neutral side, since I work for almost 2 - 3 months on this bounty campaign.
hello buddy I am glad to see you in our bounty campaign. You can be sure that the project is not a scam. My account is not at risk because this project is not a scam. Ask any questions. I will answer. I advise you not to pay attention to this JollyGood(spammer, liar, addict, flooder, crazy sick). This is a puppet who sold his honor for 1 dollar. If you look at this thread in more detail, then you will see that he is spamming 5-7 messages every day in a circle. The text is the same. The conclusions are the same. It is not difficult to guess that it is inadequate. Take a look though here: I answered him here - https://bitcointalk.org/index.php?topic=4720775.msg47511164#msg47511164but he is probably blind. and the situation is exactly the same with all his other questions and conclusions. We have answered him several times already. He does not respond, but simply continues to spam.. It is necessary to conclude that he paid the puppet. with best regards |
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Everyone has said this is a real and undeniable scam. Almost all posts say this project is a scam.
Everyone? hmm... 1 stupid guy. As I already said he is a paid puppet. Look at his posts and make a conclusion. He writes so persistently only in our project. So, its messages are bought by our competitors. if you are an intelligent, educated person, then just ask all your questions. I will answer. The project must be studied! And don't believe good or bad reviews. What your competitors mean, who? can be explained. then I want to know what difference you will apply to the exchange of adab shariah later with another exchange Good day! Thanks for your question. Our exchange will be the first crypto exchange based on the principles of Islamic finance. All cryptocurrencies for listing on our exchange will have to be scored for compliance with the principles of Islamic finance. Detailed White Paper screening of prohibited activities (interest, pyramid schemes, excess risk, speculation, prohibited activities, etc.) will be carried out. But the acquisition of an asset that meets Islamic standards (there will be only such on our exchange) and its sale at a higher price is fully consistent with the principles of Islamic finance. For this purpose, an internal Shariah Department is created as well as an independent Shariah Council. And also in the activities of the exchange will be banned Pamping, Dumping, margin trading, futures, etc., which are contrary to the principles of Islamic finance. Our team employs the world's best experts in the field of cryptocurrency, consistent with the principles of Islamic finance. The Islamic model differs from the classical one, first of all in that it puts a person at the center of the attitude towards him, honesty, morality, full transparency in management. When trading on our exchange, it will be possible to be confident that the operation of the exchange is built in compliance with all the principles of Islamic finance (management, compliance of tradable assets, etc.), and compliance with Islamic finance standards, as well as formal and understandable jurisdiction will guarantee honesty and security. This is still floating, you are talking adab is fraud but the project is still running and both parties are still defending their respective beliefs. I just want to hear the certainty here, someone must immediately decide about all this
We can answer any question you may have. I can also help you to contact the founder, and you personally ask him all the questions and realize that the project is not a scam. have a nice day! with best regards |
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You mean, only 7-8 bumps. It is still multiply posting in row - you should have quoted all replies and say one big "accepted". You know what, imagine if we all start replying to everyone's posts the same way you did. OK. I understood you. and from now on I will do what you said. Again, I am not defending anyone fine What part of this you don't understand? already done it many times, but all is useless. therefore, I no longer pay attention to him. ..that no one will point out how spammy your thread is? That no one will notice all these quote pyramids in it? What is your problem, someone broke pyramids in it, is that it?
Question - again, what is the reason to complain against specific user but at the same time you don't complain about all spam going on in your thread?
I understood you. I'll take some time and get ready. Then I will come with proofs about spam not only of this user, but also of many others. I understand you want this. No problem. I will do it. First, by this I will prove that those accounts do not belong to me! Secondly. Why I did not report on other people? because they do not write anything negative without evidence. You can see the thread. I answered and always respond to adequate criticism. But when a person writes that I am a scammer without clear evidence, then he clearly has problems with his head or he is paid for it. It's simple. |
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show me the rule where it is forbidden to reply to messages in the any thread!
13. Bumps, "updates" are limited to once per 24 hours.
32. Posting multiple posts in a row (excluding bumps and reserved posts by the thread starter) is not allowed.https://prnt.sc/ldi6bzhttps://prnt.sc/ldi6hyThis looks like violation of forum rules #13 and #32. ok. look carefully please. I didn't bump the bounty thread. only responded to the translators' application. After all it’s not difficult to get that, if you bump you need to do it daily. And I answered only 7 or 8 messages. But for example the person you are defending (JollyGood) just breaks the rule #32. look at his posts. He duplicates the same posts 5-7 times a day. This is not one time. Or will you defend him again? it turns out he bump ADAB ANN thread  Sure man. I always click "report to moderator" on posts that don't fall under the rules of the forum. |
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Everyone has said this is a real and undeniable scam. Almost all posts say this project is a scam.
Everyone? hmm... 1 stupid guy. As I already said he is a paid puppet. Look at his posts and make a conclusion. He writes so persistently only in our project. So, its messages are bought by our competitors. if you are an intelligent, educated person, then just ask all your questions. I will answer. The project must be studied! And don't believe good or bad reviews. If you are a smart person, hopefully it will be useful for your intelligence and you don't need to say anything rude to me because of your own intelligence. Friend, I didn't mean to be rude to you. Sorry if you misunderstood me. I just wanted to say that you should not judge the project based on the posts of one mentally ill drug addict - JollyGood. In mid september I had raised some serious doubt on the legitimacy of this project, I see that my suspicions have been most likely confirmed. Red flags everywhere.
why did you draw such conclusions? |
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I participated in the signature campaign. and finished by week 14. I want to stop and remove the signature. Do not join the signature campaign anymore.
spreadsheets: 40
thank you
done. thank you |
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you really don't have the mind. Buy yourself a mouse. And learn to use the roller.
and more, read on the Internet about the Google sheets and find out that the sheet can be sorted.
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@JollyGood can you please use normal font, it is really hard to read blue post thank you.
Funny how OP is talking about spam and breaking forum rules, while they use translation application to bump their bounty thread http://archive.is/hiOOo#selection-4039.0-4039.9 several times a day: How is that they don't know this is against forum rules? They registered account more than 5 years ago Well, of course you are a smart guy...and you know how to be clever show me the rule where it is forbidden to reply to messages in the any thread! the main thing is that your friend JollyGood(spammer,liar,flooder) "DOESN'T VIOLATE" forum rules. hahaha |
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Everyone has said this is a real and undeniable scam. Almost all posts say this project is a scam.
Everyone? hmm... 1 stupid guy. As I already said he is a paid puppet. Look at his posts and make a conclusion. He writes so persistently only in our project. So, its messages are bought by our competitors. if you are an intelligent, educated person, then just ask all your questions. I will answer. The project must be studied! And don't believe good or bad reviews. |
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