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

[lesya2602]

Islamic finance and cryptocurrency: convergence at last?

https://www.reuters.com/brandfeatures/venture-capital/article?id=62709

[lesya2602]

Make your Black Friday Beneficial with ADAB Solutions

https://medium.com/adab-solutions/make-your-black-friday-beneficial-with-adab-solutions-33eeb9e8803f

[lesya2602]

VIDEO MESSAGE from Mufti Faraz Adam:



If it is hard to perceive by ear, then I have an approximate text. You can read:

Shariah Pronouncement – Adab Token
By Mufti Faraz Adam and Mufti Muhammad Abu Bakar

Adab Token is a Utility Token which is based on the ERC20 standard and is subject to automatic executing upon the occurrence of pre-specified conditions. It is structured and based on the following criterion of Shariah and Islamic law.

There are various types of crypto-assets such as coins, equity tokens, utility tokens, commodity tokens etc. The Shariah treatment varies depending on the nature and features of the particular crypto-asset. Since the Adab token is regarded as a utility token, our review focuses on utility tokens. Before delving on the particulars of the Adab token as a utility token, it is imperative to appreciate that tokens qualify as lawful property from an
Islamic commercial law perspective.

There is a difference of opinion among scholars with regard to the definition of Mal (wealth / property). This is primarily due to the Holy Qur’an and the Sunnah of the Prophet (peace be upon him) being silent on the matter. Hence, as per the dictates of Islamic law, Urf or customary practice is considered an important source in determining something as Mal. Scholar have opined that anything which has the following attributes can be considered as Mal:
a) It has commercial value according to customary practice or naturally desirable,
b) It is capable of being stored for the time of necessity,
c) It is capable of being possessed and owned.

In order to use something as Mal, it is also necessary after fulfilling this basic criterion that it should be Mutaqawwim. Mutaqawwim refers to something which is lawful in Shariah and has permissible uses. For instance, alcohol fulfills the basic criterion of Mal, but it is not classified as Mutaqawwim as it is not permissible according to Islamic law.

Taking into consideration this criteria of Mal Mutaqawwim, we are of the view that the Adab token fulfills this criteria. The Adab token has commercial value as each token is backed by permissible services and products offered on Islamic Cryptocurrency Exchange. Further, these tokens can be possessed through digital wallets. The Adab token is Mutaqawwim as it provides access to only Shariah complaint
services and products.

Since the Adab token is a utility token, it is of benefitto discuss utility tokens. Utility tokens are crypto-assets which derive their value from future utility. Such tokens are commonly used to raise funds for a particular project. The tokens promise certain benefits, services or rights to token holders. The Adab token functions as a utility token. It will be issued through an ICO to raise funds for the development and scaling of the Islamic Crypto Exchange. The token will be the property of its owner (token-holder) and hence token holders will be entitled to get access to the products and services of the Islamic Crypto Exchange.

Underlying Platform:

The Adab tokens give access to permissible services and products on Islamic Cryptocurrency Exchange (FICE). The proposed structure of Islamic Cryptocurrency Exchange does not allow any Shariah non-compliant securities to be traded such as conventional bonds, derivatives etc. Likewise, any Shariah non-compliant investment strategy or contract such as short-selling, margin trading and roll-over etc are also strictly profited on the platform. To ensure Shariah compliance of each facility on Adab FICE, there will be an ongoing review and audit of Adab by Shariah Supervisory Board in conjunction with the Internal Shariah Compliance Officer, Mufti Faraz Adam.

To best of our knowledge on the basis of above justification, we are of the view that participation in Adab ICO and its secondary trading is permissible.

Allah (swt) knows best.

Mufti Faraz Adam and Mufti Muhammad Abu Bakar

Shariah Advisors at Adab Solutions

[lesya2602]

ADAB Solutions & Annual Global Islamic FinTech Summit 2018.

Details here: https://medium.com/adab-solutions/adab-solutions-annual-global-islamic-fintech-summit-2018-d48bcbbc4c47

[lesya2602]

 

[lesya2602]

ADAB Solutions introducing a team member.

Background.

Maxat Salpyn spent many years studying World Economy, Trade Finance, Investment Banking and Treasury Operations. He has a great entrepreneurial experience, more than 15 years Maxat was working in the banking industry. He was always striving to get more knowledge and he began to look for alternatives to traditional debt financing. Thus, Maxat Salpyn got his Master’s Degree from the University of Nottingham majoring in the Investments and Islamic Finance. Afterwards, Maxat began to engage in the development of this new and promising direction in the Financial Industry. His main specialization is the formation of micro-credit organizations that meet the requirements of Shariah, he is also involved in the business plan creation for the development of Islamic finance, treasury operations. Moreover, Maxat Salpyn has earned numerous certificates and awards, including the certificate of “8th CEENet Workshop on Network Technology — Engineering the Virtual Silk Highway” certificate, which was funded by NATO and held in Budapest, Hungary.

Present time and the role in ADAB Solutions.

Maxat Salpyn — Deputy CEO of Islamic Finance, he is valued member of ADAB Solutions team. Maxat coordinates the work on the development of Islamic Finance within the FICE platform and together with the project’s advisors develops a framework to ensure that the ADAB Solutions project is a Shariah-Compliant. As part of our roadshow, Maxat attended a number of global conferences where participants had a unique opportunity to hear information about the ADAB Solutions company and its prospects from the horse’s mouth. Recently, he visited Malaysia as a speaker in the Global Islamic FinTech Summit 2018.

Recap from the Global Islamic FinTech Summit 2018:

https://medium.com/adab-solutions/adab-solutions-annual-global-islamic-fintech-summit-2018-d48bcbbc4c47
   
He also was invited to the Dubai International Blockchain Summit 2018. Organizers were working carefully to select variety of the finest and most innovative ICO startups to be launched exclusive at Dubai International Blockchain Summit where founders and CEO’s could present their business models directly to the investors. Maxat Salpyn introduced ADAB Solutions’ project FICE to the audience.

[lesya2602]

First Islamic Crypto Exchange — A Masterpiece

https://medium.com/adab-solutions/first-islamic-crypto-exchange-a-masterpiece-454e72acc70

[lesya2602]

Why is it necessary to make a transaction from the same address, which was shown in the personal account?
https://medium.com/adab-solutions/why-is-it-necessary-to-make-a-transaction-from-the-same-address-which-was-shown-in-the-personal-c3ad55f33dc4

[lesya2602]

ADAB Solutions’ referral program. Get a reward. Details here:

https://medium.com/adab-solutions/adab-solutions-referral-program-get-a-reward-bc75cab3c85e

[Unbunplease]

In principle, exchange that observes Islamic laws is a necessity.  It is not a secret that the majority of followers of the Islamic use cash and do not trust banks. Because banks like to take interest, and interest - evil from the point of view of Islam

[lesya2602]

https://medium.com/adab-solutions/islamic-finance-1768371c0a97

[lesya2602]

ADAB Solutions accepts SWIFT codes NOW! Read more

https://medium.com/adab-solutions/adab-solutions-accepts-swift-codes-now-76f2e78c61e2

[lesya2602]

ADAB Solutions- the first platform, functioning in accordance with the norms of Islamic finance. Read more on our official Medium:

https://medium.com/adab-solutions/adab-solutions-the-first-platform-functioning-in-accordance-with-the-norms-of-islamic-finance-8ea7c5dec6e6

[Bigpat]

to lesya2602
Doubleposting not allowed. Second message deleted. Please add info to previous message or wait 20 hrs.

[lesya2602]

Dear ADAB Solution Community!
We are happy to inform you about near completion of private sales. The final private sales date is March 8th!
Read more: https://medium.com/adab-solutions/dear-adab-solution-community-ebf88d2e3d74