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

[elenora]

A crypto organization in the United Arab Emirates has launched the world's First Islamic Crypto Exchange (FICE).

As revealed by Trade Arabi, UAE-based Adab Solutions has released the world's first cryptocurrency exchange that meets Sharia law. Keeping in mind the end goal to guarantee that the exchange agrees to Islamic laws, a Sharia Advisory Board (SAB) framed of independent international Sharia Experts was made.

    The project aims to “ensure an enhanced quality of assets on the exchange, as well as the enhanced inclusion of Islamic cryptocurrency enthusiasts and traders.”

Trade Arabi wrote:

   “Shariah Advisory Board (SAB) is the independent body represented by internationally recognized Shariah experts, which will provide inputs on Shariah matters in order for the FICE to comply with Shariah principles at all times. These new standards set forth by the FICE will ensure an enhanced quality of assets on the exchange, as well as an enhanced inclusion of Islamic cryptocurrency enthusiasts and traders,”

There are numerous limitations on cryptocurrencies in Islamic law. For example, the 'fractional reserve lending' system, which empowers the majority of fiat resources, is perceived as an illicit activity. Then again, digital assets, such as Bitcoin (BTC) serve as a limited supply, making it a Sharia commodity, perceived as Gold or Salt.

Back in April 2018, the media demonstrated that Mufti Muhammad Abu Bakar-an Islamic researcher in Jakarta revealed that it considers BTC a Sharia-compliant, respectively it very well may be utilized by Muslims.

The declaration is a promising one as there will be opened new ways to about 1.8 billion Muslims. As per it, FICE expects to offer a much better cryptocurrency trading platform that may soon turn into a universal solution for connecting Muslims with the cryptocurrency space. Note that FICE's administrations will be accessible to all users irrespective of religion.

ICO launching in September

Adab Solutions is intending to launch the Initial Coin Offering in September 2018. As per the UAE-based company... to continue reading Click Here

[GaPR]

Sharia is the best legislation that the world has seen. But the problem is that the growing crisis is a crisis of confidence in a person, regardless of his religious or national affiliation. I do not want to trust my money to two brothers from Kazakhstan, even if they declared themselves Islamic blockchain. I'm wondering if your project is going to be decentralized?

[GaPR]

What about recent famous exchanges, Bainance and Hitbtc for example, what is their processing rate ,who has idea about this point?

As I know Binance is about1.4 millions/second , Kucoin is1 million/second, and ADAB is 3 millions/second.

                             How do you know, ADAB Exchange is not already running? This is your fictitious lie.

[onebtcforlife]

What about recent famous exchanges, Bainance and Hitbtc for example, what is their processing rate ,who has idea about this point?

As I know Binance is about1.4 millions/second , Kucoin is1 million/second, and ADAB is 3 millions/second.

Yes, whether it is an estimation or it is going to happen, i see especially this exchange is mainly designed for only Islamic people or to other people? We have seen many exchanges launched not on the basis of religion.

[patrickSmith]

What is the current ICO trend in the world?

[Colan Zolo]

An exchange project that will be able to hit the blockchain world and certainly will become a coin that has more benefits. It develops with many communities and can later provide the best for its supporters.

[GaPR]

I am a Muslim but I do not understand why I need such a stock market. The crypto market has no business with religion.

Yes, You may don't care about this idea, but there are some Muslims are conservative about Halal and Haram. so they will benefit from this project.

                I am Muslim. And I advise everyone to be cautious about this kind of projects, declaring themselves adherents of a world religion. It can easily turn out to be fraud, do not invest more than you are ready to lose.

[hesham51]

Sharia is the best legislation that the world has seen. But the problem is that the growing crisis is a crisis of confidence in a person, regardless of his religious or national affiliation. I do not want to trust my money to two brothers from Kazakhstan, even if they declared themselves Islamic blockchain. I'm wondering if your project is going to be decentralized?

I agree with you in cryptomarket the confidence is critical. I would like to clarify that ADAB team members from 6 countries: KSA,Uzbekistan,Kazakhstan,Tunisia,Yemen,UAE, and Egypt and planning to engage more team members, as the project expands.
Anyway everyone in this market know where to invest.

[boopy265420]

How much has been collected so far from private round of investment as general fund raising is approaching fast in a week ? Don't you think offering bonuses of starting from 65% to 85% for large purchasing will be in favor of whales which means centralization and manipulation in market in future ?

[hesham51]

I am a Muslim but I do not understand why I need such a stock market. The crypto market has no business with religion.

Yes, You may don't care about this idea, but there are some Muslims are conservative about Halal and Haram. so they will benefit from this project.

                I am Muslim. And I advise everyone to be cautious about this kind of projects, declaring themselves adherents of a world religion. It can easily turn out to be fraud, do not invest more than you are ready to lose.

ADAB Solutions is not fraud, it's FICE with new business model.
Everyone In crypto market people do not invest more than they are ready to lose and that's because of the risk and volatility of this market.

[hesham51]

What about recent famous exchanges, Bainance and Hitbtc for example, what is their processing rate ,who has idea about this point?

As I know Binance is about1.4 millions/second , Kucoin is1 million/second, and ADAB is 3 millions/second.

Yes, whether it is an estimation or it is going to happen, i see especially this exchange is mainly designed for only Islamic people or to other people? We have seen many exchanges launched not on the basis of religion.

ADAB is not religious exchange, it's perceived as a business model based on Shariah principles ,ADAB is open and there's no restrictions may stand for any one from any identity or culture, so anyone can join ICO or join for trading later.
You can read this article
https://medium.com/@adabsolutions/for-muslim-people-only-no-95ce446da4dd

[Artemsv]

ADAB Solutions` Partners: Humancoin

Humancoin is a unique platform, engaging the elements of the crypto world and the philanthropy industry. Humancoin is intended to solve the problem of the high operational costs of transactions, inability to discern additional benefits for donation making, and will make sure contributions reach the recipients in full amounts.
By adopting the blockchain technology, they are aiming to solve the problems and provide the best solutions to the world.

We hope, the partnership between Humancoin and Adab Solutions will benefit the world and open the door to the caring, friendly and supportive community.https://steemit.com/news/@adabsolutions/adab-solutions-partners-humancoin

[hesham51]

How much has been collected so far from private round of investment as general fund raising is approaching fast in a week ? Don't you think offering bonuses of starting from 65% to 85% for large purchasing will be in favor of whales which means centralization and manipulation in market in future ?

The private pre-sale is still open and it will last until 5 September, we will reveal the achieved results as it becomes ready.
Regarding the bounces, investor can get 60%+25%  coefficient based on the results of negotiation where the tokens accrued as bounces will be locked until the full launch of the FICE exchange.

[hesham51]

News about FICE

https://www.ccn.com/sharia-compliant-cryptocurrency-exchange-sets-its-sights-on-malta/

https://www.ccn.com/uae-startup-launches-first-ever-sharia-compliant-islamic-crypto-exchange/

[Asmh85]

What is the current ICO trend in the world?

Actually these days or I can say this year, ICOs will be more organized due to regulators and some current exist companies will launch their ICO, this year will be different from 2017.

[ibiznes]

I found the concept very innovative and one that will revolutionary as it opens up an enormous business opportunity.

[hesham51]

I found the concept very innovative and one that will revolutionary as it opens up an enormous business opportunity.

Thanks for your comment we are appreciating your interesting.

[patrickSmith]

Who bought the tokens? will bonuses be awarded?

[1992ali]

Who bought the tokens? will bonuses be awarded?

I bought ADAB tokens. you will receive bonuses if you buy more than 50,000 tokens

[Asmh85]

Who bought the tokens? will bonuses be awarded?

I did bought and I got bounces, but I have been told that it Will be locked until May 2019.