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

[NightDream]

Partnership Between Adab Solutions and Membrana blockchain platform: Strengthening position.
https://medium.com/adab-solutions/partnership-between-adab-solutions-and-membrana-blockchain-platform-strengthening-position-29dd49732615

We are happy to announce that ADAB Solutions teamed up with the Membrana blockchain platform!

What makes Membrana a unique partner?

Trust asset management is area that has always been claimed. Membrana is a unique project, which plays a role of a powerful, supporting tool that offers financial solutions for you. You will be able to choose your investment goals, as well as the horizon. It is a first trust management platform fully built on blockchain technology. With help of an experts in the investment market of Membrana you will be able to increase your capital, spending on this the minimum amount of time and effort. Membrana provides investors and traders a transparent, decentralized, and secure system, which controls the process of concluding and executing a contract, up to the point when revenue is gained by both parties.

“The main objective of the Membrana platform is to directly connect an investor and a trader to conclude a mutually beneficial, secure, and reliable contract”.

This partnership represents a powerful opportunity for Membrana Blockchain platform to extend its presence in the cryptocurrency world. Today’s announcement about partnership with Membrana is another solid step on our foundation of creating innovational, transparent and respectful company.

New partnerships are coming soon!

[JollyGood]

I will continue my work and waiting ceo make clarification about scam  maybe in youtube or make Q and A in facebook or anything else  

They have no dignity and no morals so why are you waiting for them to lie to you?

I advise you to drop anything related to Adab Haraam exchange. Please do not waste your time.

Just the Russian bounty scammer OP called whitetoo along with his alt-account sock-puppets are posting here on behalf of the 3 Kazakh team leaders that do not follow Shariah themselves.

[Asmh85]

I'm really disappointed that they use religion for scam. I had a big hopes for this project pfff.

has it been proven that there is no truth in this project and there is no continuation or even good news from the team.

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.

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!

ADAB's CEO will never respond, but I guess they already delegated the OP of this thread to answer any questions about ADAB exchange, so do not wait just ask the OP.

[D1jay]

I'm really disappointed that they use religion for scam. I had a big hopes for this project pfff.

has it been proven that there is no truth in this project and there is no continuation or even good news from the team.

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.

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!

ADAB's CEO will never respond, but I guess they already delegated the OP of this thread to answer any questions about ADAB exchange, so do not wait just ask the OP.

No i don't think it is many members but just one particular member that is trying so hard to paint a black picture of this project and tag it a scam, with popular adage that goes "silence is the best answer given to a f***" so i guess the team have decided to stick to such adage and ignore all the scam post since they don't feel threatened by them.

[JollyGood]

I'm really disappointed that they use religion for scam. I had a big hopes for this project pfff.

I am sorry your hopes were let down but I was saying from very early on after coming to this thread that the whole thing is a scam.



SCAM ALERT

Please Note Dear BitcoinTalk Community,

520bit, whitetoo and ROYALTEAM are Russian bounty scammers that scam people by using sock-puppet alias alt-accounts to push propaganda by creating fake buzz and fake hype.

PLEASE AVOID THIS ADAB HARAAM EXCHANGE

[whitetoo]

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.

[JollyGood]

Adab Haraam exchange say it is state of the art custom coded software but just look at it.

This is a $5 template with freebie graph plugins from tradingview.com.

They think it will take on Binance









ADAB HARAAM EXCHANGE = SCAM !!

[DeViL303]

We are pleased to announce a new strategic partnership with Credits!
Today ADAB Solutions is delighted to announce a new partner — Credits, a blockchain platform that previously partnered with Lenovo, Humancoin, and Sparkster. Credits collected $20 mln within 17 hours from over 15,000 contributors during their ICO.
https://medium.com/adab-solutions/we-are-pleased-to-announce-a-new-strategic-partnership-with-credits-a0ee70bd3f1c

[JollyGood]

Hello

I want to share this article with bitcointalk community.

This is about ADAB Solutions Exchange, major red flags.

https://medium.com/@douglaslyons/adab-solutions-exchange-major-red-flags-found-76a86d02e01b?fbclid=IwAR07tXklAZfXCbQcdsAGBmT7ZY0oZ0knBkatMIjy0rdILpgUOgfiDbfwHuI

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-1.4867083



None 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 !!

[rumax]

We are pleased to announce a new strategic partnership with Credits!
Today ADAB Solutions is delighted to announce a new partner — Credits, a blockchain platform that previously partnered with Lenovo, Humancoin, and Sparkster. Credits collected $20 mln within 17 hours from over 15,000 contributors during their ICO.
https://medium.com/adab-solutions/we-are-pleased-to-announce-a-new-strategic-partnership-with-credits-a0ee70bd3f1c

What role will play Credits in these partnerships or is it just the fact that they will be added to the future exchange for trading? As far as I know, they are developing a fast blockchain with the ability to create smart contracts and their ecosystem!

[JollyGood]

https://medium.com/@douglaslyons/adab-solutions-exchange-major-red-flags-found-76a86d02e01b?fbclid=IwAR07tXklAZfXCbQcdsAGBmT7ZY0oZ0knBkatMIjy0rdILpgUOgfiDbfwHuI

[whitetoo]

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.

[JollyGood]

Hello

I want to share this article with bitcointalk community.

This is about ADAB Solutions Exchange, major red flags.

https://medium.com/@douglaslyons/adab-solutions-exchange-major-red-flags-found-76a86d02e01b?fbclid=IwAR07tXklAZfXCbQcdsAGBmT7ZY0oZ0knBkatMIjy0rdILpgUOgfiDbfwHuI

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-1.4867083


YOU HAVE BEEN WARNED BECAUSE ADAB HARAAM EXCHANGE = SUPER SCAM !!



None 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 more scam than we thought before

[whitetoo]

Hello

I want to share this article with bitcointalk community.

This is about ADAB Solutions Exchange, major red flags.

https://medium.com/@douglaslyons/adab-solutions-exchange-major-red-flags-found-76a86d02e01b?fbclid=IwAR07tXklAZfXCbQcdsAGBmT7ZY0oZ0knBkatMIjy0rdILpgUOgfiDbfwHuI

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-1.4867083



None 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

[JollyGood]

This is not Muslim, Halah or Shariah compliant project. This is a project run by a team, some of who claim to be Muslim and some are not. The "team" are saying this is a Shariah compliant exchange without explaining which interpretation of Islam they follow.

Because they have no vetting system in place to ensure investors buy in to the ICO with Halal/permissible money, it means (by default) they are willing to take investment from the following an more:

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

Any investment from the above and more means the project cannot be "Shariah" compliant yet these clowns say they are offering a Shariah compliant exchange?

It is impossible to conduct ICO under these circumstances. How will they restrict certain people from participating in ICO. Will they ask for their professions before allowing them to contribute.

Based on Sharia norms interest is Harram and under this law all  POS coins will be Harram (not halal) and in the future Ethereum will be Haram too, and  as ADAB is built on Ethereum, so they are not compliant with Sharia at all.

Thank you for your efforts in exposing Adab Haraam exchange scammers and whitetoo OP Russian bounty scammer with his 520bit and RoyalTeam scammer alias sock-puppets

[JollyGood]

As I see some of questions have been answered ,what about rest of them I will be watching thread to hear team's opinion on that list of questions.
Anyway they don't skip critics and it is good.

Did they answer? Where is the link?

[muarip]

As I see some of questions have been answered ,what about rest of them I will be watching thread to hear team's opinion on that list of questions.
Anyway they don't skip critics and it is good.

Did they answer? Where is the link?

He said things that could not be explained in detail so maybe he paused at the words he made here.

[Suke_Teki]

This ADAB project thread is very interesting in my opinion, there is a debate between supporters of the ADAB project and which explains that this Project is a SCAM, I think the project team better displays the progress of their funding and shows their smart contract, this will be more convincing for people to invest.

[javadsalehi]

This ADAB project thread is very interesting in my opinion, there is a debate between supporters of the ADAB project and which explains that this Project is a SCAM, I think the project team better displays the progress of their funding and shows their smart contract, this will be more convincing for people to invest.

Almost all of fuds are made by a certain user. This has really made me surprised. He/she also has used the signature for calling Adab a scam project. It's weird.

[JollyGood]

It is nice to get in again at nearly the top of the new page  

Adab Haraam exchange = scam

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.

I hope you like the vegan-shariah analogy  

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.

This project and thread is overrun with fake bounty managers such as 520bit AND whitetoo and Russian ROYALTEAM are using multiple accounts to flood threads to generate fake buzz and hype to impress gullible people and newbies hoping to fool them in to getting involved with the Adab Haraam exchange projects.

hello. I saw your post.

I agree with you.

If the project doesn't comply with the laws of Shariah, then this is a scam.

For Muslims transparency is very important.

I saw the news that ADAB has collected softcap, but why there is no reference to a smart contract anywhere?

Thank you for your post.

Yes you are right, this project is not complying with Shariah.

There is no reference to anything in their posts because the Kazakh trio behind this scam have used Russian bounty manager scammers 520bit, whitetoo and RoyalTeam to pump this thread with all sorts of lies and nonsense.

The Kazakhs have lost sight of reality and given the Russian bounty sock-puppet scammers a free hand to post what they like except the truth.

They updated the website (https://adabsolutions.com) and re-listed a known scammer Shohel Alam as their "ICO Advisor" again (https://bitcointalk.org/index.php?topic=5043659.msg46883790#msg46883790)

They updated the website (https://adabsolutions.com) and re-listed Md-Mofassair-Hossain as their "Advisor Marketing and PR" again (https://bitcointalk.org/index.php?topic=4720775.msg46531098#msg46531098)

They updated the website (https://adabsolutions.com) and changed the listing for Sulaiman Al-Fahim from "Advisor on Investment and Strategic Development" before.... and now he is their CSO and Co-Founder. Portsmouth Football Club in United Kingdom was another one of his "projects" (https://en.wikipedia.org/wiki/Sulaiman_Al-Fahim)

The whole thing is a scam. Simple. The first project where an "Advisor" at launch of the ICO becomes a Co-Founder weeks later. Pathetic.  

Adab Haraam exchange = Big Scam