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

[Holmy]

I liked your project. I think that sales should be carried out as quickly as possible until the market became green again .

The market is unpredictable, today it is green and tomorrow it is red. In General, the market situation is not critical.

Market situation matters. It is always easier to work in a growing market.

I also believe that it is much easier to work on a growing market than on a falling one, we even conducted research on this topic

[trobbert]

What happen, a lot of words about fraud above and everyone almost explained how this project worked by tricking everyone. is this true? This will be something that will make some people doubt about this project.

There are lots of doubts about the project. You cannot read through this thread because the Russian scam sock-puppets that buy or scam older or dormant accounts is part of an alliance with RoyalTeam scammers bumping threads to make fake reviews and generate fake buzz.

At the beginning I thought that you are smart and have some facts behind you, but after leaving feedback just because I am interested in this project and want to know a little bit more, I understand that you are so negative because you have nothing in your life for realisation

[Holmy]

If all popular tokens are on the platform, then in the future all traders will know about this exchanger.

Of course, the number of trading pairs, the better. I hope we will see on the exchange and Bitcoin and Ethereum.

In order for them to be on the stock exchange, this should be done very well, advertising should work all the time.

it is important to support the crypto community.the project is not unambiguous because of innovation.it's hard for old-school people to accept that.we need to help them

I believe that this project is not as extraordinary as I think it is similar to others. But still there are many distinctive features of it

[trobbert]

But ok, let's move on. i was out for a while, so any news about a project?
I saw some answers of team members and it makes me feel more confident

[Phileste]

I liked your project. I think that sales should be carried out as quickly as possible until the market became green again .

The market is unpredictable, today it is green and tomorrow it is red. In General, the market situation is not critical.

Market situation matters. It is always easier to work in a growing market.

I also believe that it is much easier to work on a growing market than on a falling one, we even conducted research on this topic

Here for everyone individually, some do not even care about the fall of the market, because they will still invest in the project

[I3arni]

the last few weeks, the cryptocurrency market has been behaving as stable as possible, this is the best time for ICO.

nope, best time for ICO is uptrend, because you get more profit from your investition

[kkerrex]

the last few weeks, the cryptocurrency market has been behaving as stable as possible, this is the best time for ICO.

nope, best time for ICO is uptrend, because you get more profit from your investition

But just imagine that ICO collected cap while eth is 200 and it takes like 3 months for first exchange, for this period up trend can be back and in this case you will gain much more profit.

[thinkme1st]

the last few weeks, the cryptocurrency market has been behaving as stable as possible, this is the best time for ICO.

nope, best time for ICO is uptrend, because you get more profit from your investition

I agree with you. It's very rare that a project reach the hardcap when btc/eth prices are low. The best time for ICO would be when btc/eth prices are high and investors looks towards ICOs for better profits.

[Algrinys]

But ok, let's move on. i was out for a while, so any news about a project?
I saw some answers of team members and it makes me feel more confident

There is not much news, the process of token sale continues. Recently was assembled soft cap.

[gennadyg]

If all popular tokens are on the platform, then in the future all traders will know about this exchanger.

Of course, the number of trading pairs, the better. I hope we will see on the exchange and Bitcoin and Ethereum.

In order for them to be on the stock exchange, this should be done very well, advertising should work all the time.

it is important to support the crypto community.the project is not unambiguous because of innovation.it's hard for old-school people to accept that.we need to help them

It’s just that most of the people who are already not quite aware of the older generation in this crypto-lover, therefore, take this carelessly

all new scares)then get used to it and is beginning to like

[Freddy63]

the last few weeks, the cryptocurrency market has been behaving as stable as possible, this is the best time for ICO.

nope, best time for ICO is uptrend, because you get more profit from your investition

I agree with you. It's very rare that a project reach the hardcap when btc/eth prices are low. The best time for ICO would be when btc/eth prices are high and investors looks towards ICOs for better profits.

What do you mean by low prices? A year ago ethereum and btc has a huge growth and it was like on a current levels.

[zorgo]

What do you mean by low prices? A year ago ethereum and btc has a huge growth and it was like on a current levels.

If we hope that the price of key coins will start to rise in the near future, now is a great time to invest in ICO.

[Phileste]

the last few weeks, the cryptocurrency market has been behaving as stable as possible, this is the best time for ICO.

nope, best time for ICO is uptrend, because you get more profit from your investition

I agree with you. It's very rare that a project reach the hardcap when btc/eth prices are low. The best time for ICO would be when btc/eth prices are high and investors looks towards ICOs for better profits.

What do you mean by low prices? A year ago ethereum and btc has a huge growth and it was like on a current levels.

No one knows how the rate of cryptocurrency will change, every day there can be a new price for air, this market has no stability

[trobbert]

But ok, let's move on. i was out for a while, so any news about a project?
I saw some answers of team members and it makes me feel more confident

There is not much news, the process of token sale continues. Recently was assembled soft cap.

I heard about soft cap achievement and I was really glad hearing such positive news. But now we need some strong results in development. Programmers should work harder!

[daly896]

@whitetoo


It has been over 72 hours (3 days) since I asked the questions. I got replies for the 3 questions directed at you, I appreciate that.

I know they must be busy but is there any update on the 6 questions for the team? Any estimated time they will take to answer?






Q1: You refer to Adab Solutions as "we". You wrote earlier "We are developing a beta version and submit it in January. Just wait and see everything. It will certainly differ significantly from the MVP." What is your position and what is your work within Adab Solutions? You answered several posts highlighting Shariah so are you Muslim? Do you follow Shariah?

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?

Q3: The multiple aliases flooding this thread - who is the owner and what gain is in it for the flooders?

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?

Q5: Will any/all investors that participate in the ICO have to send ID for KYC/AML? If so, why?

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?

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?

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.

If KYC is being done at ICO an pre-ICO stage then why not ask specifically for an annual tax return and letter of employment with salaries stated? Add to that the checking of all available information about the investor such as FB, Twitter, Insta etc to check to see if they are being honest. This might make investment slightly harder by putting investors off but it will filter out those people that should never invest in a Shariah project.

If any project is a standard non-Shariah project then there would be no need to take extra precaution. If a project is based around Shariah then extra precautions must be taken.

Please note, the question is specifically about ICO and pre-ICO stage investment when there is no live business or working product (it is not about anybody using services a live exchange provides). I have read what Maxat Salypn wrote in a generic sense but I need to ask for a specific reply: https://bitcointalk.org/index.php?topic=4720775.msg46790691#msg46790691

Q9: Please explain fully why you lied and said I took money from you and said that that I worked for you and was fired by you.

A very respected man - Maxat Salpyn asked me to answer you.

I think there are all the answers. And you will change the view that I and the ADAB team are scammers.

and I hope all the same that common sense will win and you will understand that these accounts are not mine! go to any thread and see. Everywhere many people write many times! And what do you want to say? are my accounts too? haha... drivel...


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.

Wow! it is something i can't miss! Looks like all questions are well answered and now there is no doubts about Adab legitimacy

[Caliesnat]

But ok, let's move on. i was out for a while, so any news about a project?
I saw some answers of team members and it makes me feel more confident

There is not much news, the process of token sale continues. Recently was assembled soft cap.

I heard about soft cap achievement and I was really glad hearing such positive news. But now we need some strong results in development. Programmers should work harder!

The guys are working and they are trying, they are post-hostilely raising money for further progress, in the future they will have something else to please

[Freddy63]

What do you mean by low prices? A year ago ethereum and btc has a huge growth and it was like on a current levels.

If we hope that the price of key coins will start to rise in the near future, now is a great time to invest in ICO.

That's right! Together with main coins ICOs will be raising funds faster, it is obvious for me.
I expect it will happen in following 2-3 months

[Caliesnat]

What do you mean by low prices? A year ago ethereum and btc has a huge growth and it was like on a current levels.

If we hope that the price of key coins will start to rise in the near future, now is a great time to invest in ICO.

That's right! Together with main coins ICOs will be raising funds faster, it is obvious for me.
I expect it will happen in following 2-3 months

I think yes, for a couple of months the team should collect the amount that they need, investors are enough

[gennadyg]

@whitetoo


It has been over 72 hours (3 days) since I asked the questions. I got replies for the 3 questions directed at you, I appreciate that.

I know they must be busy but is there any update on the 6 questions for the team? Any estimated time they will take to answer?






Q1: You refer to Adab Solutions as "we". You wrote earlier "We are developing a beta version and submit it in January. Just wait and see everything. It will certainly differ significantly from the MVP." What is your position and what is your work within Adab Solutions? You answered several posts highlighting Shariah so are you Muslim? Do you follow Shariah?

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?

Q3: The multiple aliases flooding this thread - who is the owner and what gain is in it for the flooders?

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?

Q5: Will any/all investors that participate in the ICO have to send ID for KYC/AML? If so, why?

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?

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?

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.

If KYC is being done at ICO an pre-ICO stage then why not ask specifically for an annual tax return and letter of employment with salaries stated? Add to that the checking of all available information about the investor such as FB, Twitter, Insta etc to check to see if they are being honest. This might make investment slightly harder by putting investors off but it will filter out those people that should never invest in a Shariah project.

If any project is a standard non-Shariah project then there would be no need to take extra precaution. If a project is based around Shariah then extra precautions must be taken.

Please note, the question is specifically about ICO and pre-ICO stage investment when there is no live business or working product (it is not about anybody using services a live exchange provides). I have read what Maxat Salypn wrote in a generic sense but I need to ask for a specific reply: https://bitcointalk.org/index.php?topic=4720775.msg46790691#msg46790691

Q9: Please explain fully why you lied and said I took money from you and said that that I worked for you and was fired by you.

A very respected man - Maxat Salpyn asked me to answer you.

I think there are all the answers. And you will change the view that I and the ADAB team are scammers.

and I hope all the same that common sense will win and you will understand that these accounts are not mine! go to any thread and see. Everywhere many people write many times! And what do you want to say? are my accounts too? haha... drivel...


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.

Wow! it is something i can't miss! Looks like all questions are well answered and now there is no doubts about Adab legitimacy

I agree with you.I think the questions will disappear in distrustful people.

[Garahain]

@whitetoo


It has been over 72 hours (3 days) since I asked the questions. I got replies for the 3 questions directed at you, I appreciate that.

I know they must be busy but is there any update on the 6 questions for the team? Any estimated time they will take to answer?






Q1: You refer to Adab Solutions as "we". You wrote earlier "We are developing a beta version and submit it in January. Just wait and see everything. It will certainly differ significantly from the MVP." What is your position and what is your work within Adab Solutions? You answered several posts highlighting Shariah so are you Muslim? Do you follow Shariah?

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?

Q3: The multiple aliases flooding this thread - who is the owner and what gain is in it for the flooders?

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?

Q5: Will any/all investors that participate in the ICO have to send ID for KYC/AML? If so, why?

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?

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?

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.

If KYC is being done at ICO an pre-ICO stage then why not ask specifically for an annual tax return and letter of employment with salaries stated? Add to that the checking of all available information about the investor such as FB, Twitter, Insta etc to check to see if they are being honest. This might make investment slightly harder by putting investors off but it will filter out those people that should never invest in a Shariah project.

If any project is a standard non-Shariah project then there would be no need to take extra precaution. If a project is based around Shariah then extra precautions must be taken.

Please note, the question is specifically about ICO and pre-ICO stage investment when there is no live business or working product (it is not about anybody using services a live exchange provides). I have read what Maxat Salypn wrote in a generic sense but I need to ask for a specific reply: https://bitcointalk.org/index.php?topic=4720775.msg46790691#msg46790691

Q9: Please explain fully why you lied and said I took money from you and said that that I worked for you and was fired by you.

A very respected man - Maxat Salpyn asked me to answer you.

I think there are all the answers. And you will change the view that I and the ADAB team are scammers.

and I hope all the same that common sense will win and you will understand that these accounts are not mine! go to any thread and see. Everywhere many people write many times! And what do you want to say? are my accounts too? haha... drivel...


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.

Wow! it is something i can't miss! Looks like all questions are well answered and now there is no doubts about Adab legitimacy

I agree with you.I think the questions will disappear in distrustful people.

The team correctly answered all the questions of clients who were in error, now there should be no doubt