ADAB: The First Islamic Crypto Exchange Which Will Comply With Shariah Law

yvainewars (7)in #investment • 6 years ago (edited)

New exchange to comply with the Islamic Law

Trade Arabia’s recent report announces that SAB (Sharia Advisory Board) will make sure that all of the exchange’s businesses, activities and achievements will be completely in compliance with Islamic law. The project came about after the crypto craze reached all levels of UAE and surrounding countries.

The need to enter the crypto world officially in the form of an exchange became a necessity but the problem was to ensure that it obeys Islamic law. Now, the project will ensure the top quality of all assets to be listed within the exchange and will serve crypto traders and enthusiasts of the Islamic world.

Most cryptos, Bitcoin included, function under a different philosophy where the supply of tokens is limited and even scarce. This makes them similar to things like gold, which is what Sharia understands and supports. As such, cryptos are seen as a viable alternative to traditional forms of money.

Back in April of this year, one Islamic scholar, Mufti Muhammad Abu Bakar, stated that BTC is actually in complete compliance with the Islamic law and that Muslims should use it. Considering that the number of Muslims in the world is currently around 1.8 billion, this positive stance represents a huge potential for cryptos to tap into new markets which were previously non-existent due to theological uncertainty.

Now, however, with FICE coming on board, and the Islamic world turning towards cryptos more and more, this might soon change. It is largely expected that the launch of this single exchange might become a green light for millions of Islamic investors to join the crypto world. With no religion-based dilemmas in the way, the crypto market will be ripe for the picking.

Islamic banking is not a financial sector based banking but a real sector based banking. In transactions in the real sector involve yn ayn (goods and services) and ‘dayn (money) so that the exchange sector becomes important in a transaction that is carried out. As well as being important in carrying out contracts in Islamic exchange in order to carry out and understand the concept of contracts in banking products.

Now a platform has provided a solution for it all so that every exchange, especially in the cryptocurrency currency can function in accordance with Islamic principles, this is a platform where the function of this platform can solve the problem of aligning crypto assets with the values of ADAB's high Islamic cultural morality SOLUTION creates a global cryptocurrency platform for Muslims and the world in general.

For the first time in the cryptocurrency market, ADAB SOLUTIONS will implement the Sharia Advisory Board in its structure to create a reliable platform for launching halal projects.

Muslim ethical uncertainty about accepting work in the crypto market leads to distance, and as a result of the lack of involvement of the Muslim community in the technologically innovative financial sector, the ADAB Solution will solve this problem.

But currently the involvement of Muslims in the cryptocurrency market is very little, especially in the world of economics and crypto markets, ADAB SOLUTIONS now wants to provide a motivation for all Muslims to the crypto market and sites that provide halal projects, while the crypto market wants to create values new about business management, sharia standards are very high and also safeguarded.

What is ADAB?

ADAB is the initial performing cryptocurrency money exchange according to Sharia guidelines, ADAP Market segments understand the value of faith-based values needed by customers. To comply with No Riba's insurance plan, ADAB is undoubtedly dedicated to supplying the investment in tranquility with Islamic legislation. This permits all ADAP clientele who possess Islamic objectives to come to be ready to craft in usury-free surroundings. Also, in our work to give extraordinary and moral trading circumstances to all stock traders, There is no exchange of cryptocurrency, Which works following Sharia law and current Islamic norms. No cryptocurrency system can become fixed relating to Islamic standards, ADAB is usually obtainable to Muslim audiences around the universe for crypto market segments, also to explore legitimate assignments just following Islamic rules. The cryptocurrency industry requires new values and new ethical standards of business supervision. The Shariah concept can provide as an excessive regular and credibility and reliability Adab Alternatives Permitting to carry out cryptocurrency trades following Islamic ideas founded on shariah norms ADAB usually is a choice for all Muslims worldwide; scientific enhancements will be inescapable.

ADAB Alternatives is growing Primary Islamic FICE Daily trading quantity projected on the Initial Islamic Crypto Exchange first $ 140 mil and a first weekly turnover of $ 4.2 billion during the initial 12 months and a one half of the sharing procedure. As a result, the implementation of the ADAB Solution job will create a global infrastructure, operating on the critical points of Islamic fund, and the society regulating the production of the crypto-Islamic market.ADAB might fix the challenge of halal cryptocurrency trades, provide gain access to to the cryptocurrency industry for Muslims, which stories for 22% of the world's populace and manages Islamic financial possessions with a good projected 3.8 trillion USD.

First Islamic Crypto Exchange (FICE) would not list cryptocurrencies related to gambling, alcohol, and usury

According to ADAB Solutions, the Islamic world needed a Shariah-compliant crypto exchange as “many cryptocurrencies, due to their characteristics, are haram [forbidden in Islam]. Today, no one can guarantee that the coins and projects listed on conventional cryptocurrency exchanges comply with the norms of Islam.”

To respect the Islamic law to the letter and to only provide services that are “halal” (permitted by Islam), ADAB Solutions announced that the First Islamic Crypto Exchange (FICE) wouldn’t list crypto projects related to gambling, alcohol, or usury. Additionally, they also informed that FICE would not offer services that are immoral.

“At FICE there will be no speculative deals, margin trading or operations not corresponding to the norms of Shariah. These restrictions are not enforced only for religious reasons, they also exclude the appearance of low-quality assets on the exchange,” informed ADAB Solutions.

The Uniqueness of Adab Solutions

The first exchange compliant with the norms of Islam
Today, there is no one cryptocurrency exchange, that would guarantee the activity based on the principals of Shariah. Adab Solutions will be the first project that will allow cryptocurrency transactions in accordance with the principles of Islamic finance and on the basis of Shariah norms
The Shariah Advisory Board, acting on an ongoing basis, will conduct in depth and systematic study of the cryptocurrency market and its elements for compliance with Shariah law.
Intended for a huge audience
Islamic Ummah covers more than 120 countries in Europe, Western, Central, South and South-East Asia and North Africa. In 35 of these Muslims are in the majority of the population. In 28 countries, including Egypt, Saudi Arabia, Morocco, Kuwait, Iran, Pakistan and others, Islam is a state religion.
Forming a new market system
The project applies to crypto-economy values based on the norms of the Shariah and the principles of Islamic finance. These values will become the basis for self-regulation of the crypto market and will increase the level of confidence in key cryptocurrency instruments.
Project design and safety
The project is built on the highest security standards and unique technical software solutions in conjunction with safe and reliable jurisdictions.

ADAB SOLUTION'S Goals and Advantages

The main goal of the ADAB Solutions project is to develop the FICE-First Islamic Crypto Exchange, based on Sharia norms that will objectively help and facilitate the Muslim community and crypto investor to understand what is in the cryptocurrency market, what is in line with Sharia rules, and what is not. ADAB decisions related to these facts will usually benefit the market, because halal projects basically have uses and values, and also they will help develop useful ideas and demean the project in a market that is basically haram. So the cryptosystem - Islamic economics as an intermediary for financial mechanisms that allow individuals to carry out investment activities without violating the basic principles of Sharia. With this goal, ADAB Solutions has advantages including:

A well-developed economic model to maintain value.
Halal coins are available to millions of Muslims.
Token with a deflationary economic model. The number of tokens continues to decline.
Free exchange for banknotes and other cryptocurrencies.
Commission payment methods for FICE and keys for access to platform services.
A compact ecosystem will be prepared from the Sharia Advisory Council project. Projects in the ecosystem will be checked for adjustment before being allowed to enter the system.

Plans and Programs of ADAB SOLUTIONS

As you all are known that ADAB SOLUTIONS really works on Islamic Shariah and it is a blockchain based Crypto currency. So it has some Plans and Programs how it works and where it will go. So now I am telling you guys what are the actual Plans and Programs on about ADAB. Let me show:

The primary sources of Shariah-the Quran and the Sunnah-regulate the basic issues related to economic activity, based on this, Muslims cholarsand economists formulated the key provision sof the Islamic economic model.

It can be argued that the Islamic economy, now has a global reputation. Islamiceconomy is talking about the origin of the ideas and concept. The concept of Islamic Economy does not in itself contradict the classical Western economy and does not for many laws of economic development. The main differences are in the basic values of the economy.

The term of Islamic Finance includes a wide range of financial products and services.

The Function of FICE (First Islamic Crypto Exchange)

FICE will implement key functions of crypto-exchange
The user’s crypto.
Spot trade.
Technical Analysis Tools
Unlimited withdrawal of funds.
Trade in crypto-assets for fiat money

ADAB Token ICO Details

The initial coin offering will be held between July 15th and November 23rd at an initial cost of USD 0.1 a unit. ADAB tokens will only be released during this period and no further tokens can be created or mined. ADAB forecasts a daily trade volume of USD 140 million and a turnover of USD 4.2 billion within the first 18 months of the exchange’s operations.

ICO terms and conditions:

Name of the token: ADAB
Total number of tokens released: 480 000 000
Private Pre-Sale is live now
ICO start: November 18, 2018
End of ICO: December 28, 2018
Price of the token: 1 ADAB = 0.1 USD
Accepted currency: BTC, ETH
Soft Cap: $ 2,500,000
Hard Cap: $ 18,700,000

Why Do You Participate In The Plan And Buy Token?

The first Islamic crypt platform. Solution Adab makes it possible to carry out kriptovalyutnye transactions in accordance with generally accepted Islamic-based money-benchmark principles of Sharia, and I think the first company to take the solution to this problem. Establishment of a new market. Solution Adab – interested in a large number of users who previously could not be invested in kriptoaktivnye assets, and this would benefit the entire cryptoekonomike, enough to grow with new partners, who first saw only because of his research into the region. The lowest cost for ICO purposes. Initially, the number of tokens issued is the largest and the last. Then the number of tokens is sufficiently reduced, and the cost is sufficient to increase. Good opportunity to increase the price of tokens.