[ANN] ADAB - First Islamic Crypto Exchange, based on the Shariah norms

[farraddy]

Of course, Muslims can earn money in other ways if cryptocurrencies contradict Shariah norms. But the cryptocurrency business is a lot of money. It would be wrong to miss such an opportunity.

[JollyGood]

The users here are part of the "scammer bots", "give-me-bounty-for-each-incoherent-post-I-make-to-pump-this-thread", "freebie token seeking vagabonds" and "airdrop beggars" that keep pumping up the thread to drown out voices that disagree and expose the Adab Haraam exchange.

I have these beggars on IGNORE because it makes this thread so much easy to navigate while they talking to each other trying to impress their masters by flooding this thread in the hope of getting extra tokens in the way an owner throws a bone at his dog and says "Fetch"

 

Now back the issue, there is nothing Shariah or Halal about these scammers.

The Kazakh team trio-leaders have not even announced which religion and which denomination if any they follow. Shameful.

Timur Turzhan - CEO, Founder

Rustam Turzhan - COO, co-founder

Maxat Salpyn - Deputy CEO of Islamic Finance

[nerttor]

As far as I know in Kazakhstan 70% of population is muslims, so they now about islamic banking as well and they keep shariah rules I guess.

How important is the country of origin of the project? I mean the success of the project in the ICO stage and in the future. Perhaps many projects are registered in countries where the laws of the country allow it.

[Departament11]

Come on, guys! If you blame on Adab, then show us evidence. In other case it is simply words.
I am sure it is not a scam project, let's see how it will develop

The project is not scam, here the team is really working on it and wants to make it better, so even the photos were from the conference

[ZloiRediska]

The Kazakh team trio-leaders have not even announced which religion and which denomination if any they follow. Shameful.

Timur Turzhan - CEO, Founder

Rustam Turzhan - COO, co-founder

Maxat Salpyn - Deputy CEO of Islamic Finance

It seems to be written that this project is from the United Arab Emirates and not from Kazakhstan. You don't have accurate information?

[Departament11]

The Kazakh team trio-leaders have not even announced which religion and which denomination if any they follow. Shameful.

Timur Turzhan - CEO, Founder

Rustam Turzhan - COO, co-founder

Maxat Salpyn - Deputy CEO of Islamic Finance

It seems to be written that this project is from the United Arab Emirates and not from Kazakhstan. You don't have accurate information?

Read the white paper, maybe there is this information, but as I understand it, this is a team of Islamic faith

[bmw_e46]

As far as I know in Kazakhstan 70% of population is muslims, so they now about islamic banking as well and they keep shariah rules I guess.

How important is the country of origin of the project? I mean the success of the project in the ICO stage and in the future. Perhaps many projects are registered in countries where the laws of the country allow it.

Here everything is done so that the Muslim people themselves are for the project to develop and even then all the other countries

[ufolly]

Sometimes ICO-projects are registered in countries where it is possible to do the laws of the country. And the team can be from different countries. Anyway, the team follows its plans.

[aalborg]

I have not something common with muslims and I don't even know all specific of shariah norms and why it is required to apply shariah norms in crypto, but i will learn something more on this subject and get back then.

[bmw_e46]

I have not something common with muslims and I don't even know all specific of shariah norms and why it is required to apply shariah norms in crypto, but i will learn something more on this subject and get back then.

The project is for Muslims, yes, but it can also be taken to itself and ordinary users, it’s not very profitable to work for a specific target audience.

[Power22]

Sometimes ICO-projects are registered in countries where it is possible to do the laws of the country. And the team can be from different countries. Anyway, the team follows its plans.

They have not yet violated anything from the norms of Sharia, everything is legal, because everything wants to be better than for its people.

[JollyGood]

Adab Haraam exchange = scam

The Kazakhstan trio behind this scam have not declared if they are Muslim and if so of which denomination so this cannot be Shariah compliant or Halal

Just think about it  for a moment. If the Adab Team cannot check the "purity of the source of the money" that investors send, or if the Adab Team cannot check the "moral standing of each investor" then they can continue to create their exchange but they should remove the word "Shariah".

Would you invest in an ICO for a Vegan cake baking company called "Vegan Cakes For All"? Sure why not if it is a good investment?

But if that "Vegan Cakes For All" company was using using cows milk in all of its Sponge Cake products and using pork fat in all of its Carrot Cake products then how can that company called itself "Vegan Cakes For All"? If they want to trade then remove the word "Vegan" and call yourself "Cakes For All" because they are lying and misleading and scamming therefore are thieves.

The moment they drop the word "Vegan" they seize being lying, misleading, scammers and thieves and become a legitimate business.

This project will not be successful long term because the team behind it are inexperienced and out of their depth otherwise they would never have lied about it being Shariah compliant.

I repeat from an earlier post: Thanks to the bots and airdrop and free token seekers who have pumped and flooded this thread and thanks to the lies thrown in my direction I have dedicated the Scam Alert signature just for you and your beloved Adab Haraam exchange. I hope you like it. Thank you.

I will try be back at least once to make sure I post on every new page to re-iterate the message this "project" is a scam

 

Timur Turzhan - CEO, Founder

Rustam Turzhan - COO, co-founder

Maxat Salpyn - Deputy CEO of Islamic Finance

You three are from Kazakhstan so are you all Muslim?

It is important to ask this question because you are main protagonists behind this scam called Adab Haraam exchange.

Which sect or interpretation of Shariah or Islam do you claim follow?

If you are Muslims are you Sunni?

If you are Muslims clarify are you Hanafi?

If you are Muslims clarify are you non-denominational Muslims?

We await your answers to find out how much you follow Shariah

Wiki (https://en.wikipedia.org/wiki/Kazakhstan#Religion):
"Some figures show that non-denominational Muslims form the majority, while others indicate that most Muslims in the country are Sunnis following the Hanafi school."

Why do you think you can accept investment from the following and it can still be Shariah? :

pimps
prostitutes
porn actors
those currently behind bars in prison serving prison sentences
those that sell drugs/narcotics
those that manufacture, test and sell weapons
those that own publications online/print media cursing Muslims and those that have anti-Muslim agenda
those that own, transport or sells alcohol
those that own breweries and manufacture alcohol

This is a scam ICO and scam project. Any and all projects cannot be Halal or Shariah compliant if they are willing to take ICO funding from the above list and more.

[Den1ska]

Sometimes ICO-projects are registered in countries where it is possible to do the laws of the country. And the team can be from different countries. Anyway, the team follows its plans.

Even a team of different countries must accept the rules of the country in which the project is being developed, and this will be correct.

[JollyGood]

I made this post in the past but did not receive an answer: https://bitcointalk.org/index.php?topic=4720775.msg46440200#msg46440200



Well well, good thing I saw this and got some advice from a friend who is a Muslim. Most of what is written next is thanks to him so I cannot take credit for it....

Last year Halal Coin came on to the scene making all the right noises but it sank without a trace:

Halal Coin https://www.halal-coin.org/

Will this Halal Exchange go the same way as that Halal Coin?

Any exchange claiming to be Shariah compliant is no more no less Shariah compliant than most other exchanges.

It seems people behind Adab Solutions are trying to corner the Islamic investors market by promoting Shariah as its unique selling point but there is nothing more or less Shariah compliance in its format than that of most exchanges out there.

The process is virtually the same regardless of which non-FIAT exchanges people use and regardless of which FIAT based exchanges are used.

Non-FIAT exchange:
Customer sends crypto to the exchange and then converts to other crypto, buys/sells and withdraws to his desktop/mobile wallet

FIAT exchange:
Customer sends crypto to the exchange and then converts to other crypto, buys/sells and withdraws to his desktop/mobile wallet
or
Customer sends crypto to the exchange and then converts to other crypto, buys/sells and withdraws cash to his bank account

- Where is the Shariah compliant part in any of the above processes?

- Where is the non-Shariah compliant part in any of the above processes?

Will the OP actually explain which part of the processes of the exchange make it Shariah compliant by being Halal (acceptable practice in Islam, permissible) and which part of the processes of the exchange make it Haraam (not allowed or acceptable in Islam, forbidden)

Until or unless I see the evidence provided by from the "team" behind this exchange, from what I see the people behind this exchange are opportunistic trying to pull in investors from the Muslim community by not explaining to them exactly how their core business is Shariah compliant.

Please can somebody from the team post back here explaining the following:

- Which branch of Islam does each and every Muslim on the board/team of this exchange belong to (Sunni or Shia or anything else and which denomination of those branches) so it will allow investors to know if the people behind the project are in fact Muslim sharing the same interpretation of Qur'an and Hadith as investors or those that claim to be Muslim but have nothing about Islam within them. Which school of thought (Maliki, Hanifi, Sha'fi, Hanbali) does each and every board member and team member that claims to be Muslim actually follow? Or do they follow some other school of thought?

- Would you expect a Sunni Muslim following say for example the teaching of Imam Malik to invest in a project that is operated by your "team" if you are all Mirza Qadiani followers? Please write your reply. What are the "team" doing to make checks that the investment coming in will be from halal sources?

- If your "team" consists of for example Sunni Muslim following the teaching of Imam Abu Hanifa will you accept investment from followers of Mirza Qadiani? Please write your reply. If you accept the investment will your project remain Shariah compliant? What are the "team" doing to make checks that the investment coming in will be from halal sources?

- Why is the "team" having an ICO without making it clear that the project will never be Shariah compliant if the investors are using Haraam money to fund this project? What are the "team" doing to make checks that the investment coming in will be from halal sources? Please explain if accepting money from those sources will make this project anti-Shariah?

- What checks are the "team" making to ensure that those people who advocate harm against the Muslim community and promote Islamophobia are not funding this project? Please explain if accepting money from those sources will make this project anti-Shariah?

I can ask more questions to show you will not be Shariah compliant but please do reply to the above questions and prove me wrong, I will be the first to take my hat of to you and congratulate you.

Please also explain if your Bounty program will be Halal and Shariah compliant, if it will be please explain how? What will make it Halal. Thank you

[Power22]

Sometimes ICO-projects are registered in countries where it is possible to do the laws of the country. And the team can be from different countries. Anyway, the team follows its plans.

Even a team of different countries must accept the rules of the country in which the project is being developed, and this will be correct.

Well, as we have seen from the photo, there are Kazakhs in the project, although about 80% of Muslims live in Kazakstan, in every part of the world they are

[JollyGood]

 

The multiple aliases users here are part of the "scammer bots", "give-me-bounty-for-each-incoherent-post-I-make-to-pump-this-thread", "freebie token seeking vagabonds" and "airdrop beggars" that keep pumping up the thread to drown out voices that disagree and expose the Adab Haraam exchange.

I have these beggars on IGNORE because it makes this thread so much easy to navigate while they talking to each other trying to impress their masters by flooding this thread in the hope of getting extra tokens in the way an owner throws a bone at his dog and says "Fetch"

[Digitelow]

I have not something common with muslims and I don't even know all specific of shariah norms and why it is required to apply shariah norms in crypto, but i will learn something more on this subject and get back then.

indeed a little tricky, but I don't think it matters if you join here (Adab) because the Adab project is open to the public, this is only about where Adab uses the sharia bank method for Muslims in the world of crypto currencies, because with that, Adab will be one pioneers from future Islamic projects

[Guardsman]

I am wondering here how does the Islamic religion look at cryptocurrencies in general? Are there any official comments on this issue?

Probably all religions of the world follow the principles such as - deception is bad, you need to earn money honestly, etc. In the field of crypto-currencies, there are many scams, it's not a secret.

I used to think so too. But looking through this thread, I realized that Islam has special requirements for the origin of money. Here I was wondering what they say in Islam about cryptocurrency in general.

[ZloiRediska]

Of course, Muslims can earn money in other ways if cryptocurrencies contradict Shariah norms. But the cryptocurrency business is a lot of money. It would be wrong to miss such an opportunity.

Of course, cryptocurrencies allow you to earn a lot of money. This is a great chance for many people. I just noticed that there are very few investors and projects from the Islamic world. I thought that cryptocurrency zapresheno of Islam.

[M1ster.tw1ster]

I have not something common with muslims and I don't even know all specific of shariah norms and why it is required to apply shariah norms in crypto, but i will learn something more on this subject and get back then.

indeed a little tricky, but I don't think it matters if you join here (Adab) because the Adab project is open to the public, this is only about where Adab uses the sharia bank method for Muslims in the world of crypto currencies, because with that, Adab will be one pioneers from future Islamic projects

As I understand it, each person can take part in the life of the project and religion does not depend in any way, the project is read by Muslims, but also by other countries