It is necessary to diversify risk and for this you should not invest all the money in one project.
Topic: [ANN] ADAB - First Islamic Crypto Exchange, based on the Shariah norms - page 119. (Read 87084 times)
October 17, 2018, 12:01:42 PM
It is necessary to diversify risk and for this you should not invest all the money in one project.
October 17, 2018, 12:00:43 PM
The importance of Sharia certification or approval can't be denied that's why Stellar's management felt need of acquiring such certification. You are going to run exchange services which is that part of the world can open way for mass adoption and usage of cryptocurrencies. I am interested in such projects to know more about.
Hello,sir. Thanks for your interest to our project. We really appreciate that. We believe that our moral and socially acceptable behavior, ethical ways of doing business, giving back to the community, arranging charity works, providing the transparency of financial actions, excluding all the possibilities of manipulatitive actions- all followed by the principles of Sharia Law. Also, many questions were asked, regarding the inclusivity of the project, whether it is for everyone or for Muslim people only. We are always trying to highlight the fact that our project is not based on religious beliefs, it's following the common principles of Sharia Law, including all the above stated principles. It is considered as a successful business model, that we would like to adopt. And the project is for eveyone, regardless of race and beliefs. We are running the business, but doing it ethically and morally. It's more of an opportunity to the Muslim communities to participate in crypto economics, not worrying about the ethical or moral principles of crypto exchange. Uniqueness of this project, not only concluded by following the Sharia Laws, but also including the best possible security options, in accordance with the highest standards of security and key programme solutions.
During the market research phase, we've came accross some common problems, industry is facing right now. Firstly, there is a lack of involvement from Muslim communities into the cryptocurrency market. Muslim community totally of 1.8 billion people all over the world needs a cryptoplatform functioning in accordance with the principles of Sharia Laws. ADAB Solutions presenting the FICE-First Islamic Crypto Exchange, which allows new major sector of cryptocurrency market, focusing on Muslim communities, Islamic finances users, and all the interested people. Secondly, there is a lack of trust to key instruments of cryptomarket, and the absence of new investors and markets. Dynamic crypto market development depends on the continious engagement of new participants and sectors of economy. ADAB Solutions project may perform as a mediator between the crypto market and Muslim communities.
We have a road map and white paper for our project available on our website https://adabsolutions.com/. You can get more acquainted with the project. We are arranging ICO on 3 stages. Closed pre-sale(15.08.2018-05.09.2018), Public pre-sale(06.09.2018-29.09.2018) and Crowsale(30.09.2018-15.11.2018).
Pathetic scammers....
Adab Haraam scammers exchange are willing to accept money from illegal and immoral sources including from pimps and prostitutes as well a drug dealers and alcohol manufacturers and they claim to have morals.
Shame on these Adab Haraam exchange scammers for lying. This is not Shariah compliant or Halal, it is the opposite.
Nothing Shariah or Halal about these scammers. They Kazakh team trio-leaders have not even announced which religion and which denomination if any they follow. Shameful.
Timur Turzhan - CEO, Founder
Rustam Turzhan - COO, co-founder
Maxat Salpyn - Deputy CEO of Islamic Finance
You three are from Kazakhstan so are you all Muslim?
It is important to ask this question because you are main protagonists behind this scam called Adab Haraam exchange.
Which sect or interpretation of Shariah or Islam do you claim follow?
If you are Muslims are you Sunni?
If you are Muslims clarify are you Hanafi?
If you are Muslims clarify are you non-denominational Muslims?
We await your answers to find out how much you follow Shariah
October 17, 2018, 11:58:59 AM
Sometimes ICO-projects are registered in countries where it is possible to do the laws of the country. And the team can be from different countries. Anyway, the team follows its plans.
Even a team of different countries must accept the rules of the country in which the project is being developed, and this will be correct. October 17, 2018, 11:57:48 AM
Hello, I just confused about the Terms and Conditions of the ICO in Whitepaper and your website. On your website, The amount of charges on closed and preliminary sale are 5 610 000 $ and the Volumes of fees at the crowdsale is 13 090 000 $. But in the WP it is 5,187,000$ and 12,103,000$ respectively. So what one is correct? Thanks! 
The Adam Haraam exchange "team" have no idea what they are doing. These opportunistic scammers are not to be trusted because this is not a Shariah or Halal exchange. Do not bother sending your money to these fools.
The multiple aliases users here are part of the "scammer bots", "give-me-bounty-for-each-incoherent-post-I-make-to-pump-this-thread", "freebie token seeking vagabonds" and "airdrop beggars" that keep pumping up the thread to drown out voices that disagree and expose the Adab Haraam exchange.
October 17, 2018, 11:56:28 AM
As far as I know in Kazakhstan 70% of population is muslims, so they now about islamic banking as well and they keep shariah rules I guess.
How important is the country of origin of the project? I mean the success of the project in the ICO stage and in the future. Perhaps many projects are registered in countries where the laws of the country allow it. October 17, 2018, 11:53:42 AM
Of course, preparing ICO takes much time and many resources, so no doubt that developments will go to their goal because if the project succeeds both devs and investors can earn good money.
Personally, I am only interested in the return on investment, I do not care how the project will work, what it will have advantages, it is important for me that the token would grow in price, the project administration can give me such guarantees? October 17, 2018, 11:45:44 AM
I have not something common with muslims and I don't even know all specific of shariah norms and why it is required to apply shariah norms in crypto, but i will learn something more on this subject and get back then.
indeed a little tricky, but I don't think it matters if you join here (Adab) because the Adab project is open to the public, this is only about where Adab uses the sharia bank method for Muslims in the world of crypto currencies, because with that, Adab will be one pioneers from future Islamic projects October 17, 2018, 11:45:27 AM
Of course, Muslims can earn money in other ways if cryptocurrencies contradict Shariah norms. But the cryptocurrency business is a lot of money. It would be wrong to miss such an opportunity.
Of course, cryptocurrencies allow you to earn a lot of money. This is a great chance for many people. I just noticed that there are very few investors and projects from the Islamic world. I thought that cryptocurrency zapresheno of Islam. 
October 17, 2018, 11:28:23 AM
I am wondering here how does the Islamic religion look at cryptocurrencies in general? Are there any official comments on this issue?
Probably all religions of the world follow the principles such as - deception is bad, you need to earn money honestly, etc. In the field of crypto-currencies, there are many scams, it's not a secret. October 17, 2018, 11:17:14 AM
I have not something common with muslims and I don't even know all specific of shariah norms and why it is required to apply shariah norms in crypto, but i will learn something more on this subject and get back then.
indeed a little tricky, but I don't think it matters if you join here (Adab) because the Adab project is open to the public, this is only about where Adab uses the sharia bank method for Muslims in the world of crypto currencies, because with that, Adab will be one pioneers from future Islamic projects October 17, 2018, 10:58:23 AM
The multiple aliases users here are part of the "scammer bots", "give-me-bounty-for-each-incoherent-post-I-make-to-pump-this-thread", "freebie token seeking vagabonds" and "airdrop beggars" that keep pumping up the thread to drown out voices that disagree and expose the Adab Haraam exchange.
I have these beggars on IGNORE because it makes this thread so much easy to navigate while they talking to each other trying to impress their masters by flooding this thread in the hope of getting extra tokens in the way an owner throws a bone at his dog and says "Fetch"
October 17, 2018, 10:57:07 AM
Sometimes ICO-projects are registered in countries where it is possible to do the laws of the country. And the team can be from different countries. Anyway, the team follows its plans.
Even a team of different countries must accept the rules of the country in which the project is being developed, and this will be correct. October 17, 2018, 10:53:49 AM
I made this post in the past but did not receive an answer: https://bitcointalksearch.org/topic/m.46440200
Well well, good thing I saw this and got some advice from a friend who is a Muslim. Most of what is written next is thanks to him so I cannot take credit for it....
Last year Halal Coin came on to the scene making all the right noises but it sank without a trace:
Halal Coin https://www.halal-coin.org/
Will this Halal Exchange go the same way as that Halal Coin?
Any exchange claiming to be Shariah compliant is no more no less Shariah compliant than most other exchanges.
It seems people behind Adab Solutions are trying to corner the Islamic investors market by promoting Shariah as its unique selling point but there is nothing more or less Shariah compliance in its format than that of most exchanges out there.
The process is virtually the same regardless of which non-FIAT exchanges people use and regardless of which FIAT based exchanges are used.
Non-FIAT exchange:
Customer sends crypto to the exchange and then converts to other crypto, buys/sells and withdraws to his desktop/mobile wallet
FIAT exchange:
Customer sends crypto to the exchange and then converts to other crypto, buys/sells and withdraws to his desktop/mobile wallet
or
Customer sends crypto to the exchange and then converts to other crypto, buys/sells and withdraws cash to his bank account
- Where is the Shariah compliant part in any of the above processes?
- Where is the non-Shariah compliant part in any of the above processes?
Will the OP actually explain which part of the processes of the exchange make it Shariah compliant by being Halal (acceptable practice in Islam, permissible) and which part of the processes of the exchange make it Haraam (not allowed or acceptable in Islam, forbidden)
Until or unless I see the evidence provided by from the "team" behind this exchange, from what I see the people behind this exchange are opportunistic trying to pull in investors from the Muslim community by not explaining to them exactly how their core business is Shariah compliant.
Please can somebody from the team post back here explaining the following:
- Which branch of Islam does each and every Muslim on the board/team of this exchange belong to (Sunni or Shia or anything else and which denomination of those branches) so it will allow investors to know if the people behind the project are in fact Muslim sharing the same interpretation of Qur'an and Hadith as investors or those that claim to be Muslim but have nothing about Islam within them. Which school of thought (Maliki, Hanifi, Sha'fi, Hanbali) does each and every board member and team member that claims to be Muslim actually follow? Or do they follow some other school of thought?
- Would you expect a Sunni Muslim following say for example the teaching of Imam Malik to invest in a project that is operated by your "team" if you are all Mirza Qadiani followers? Please write your reply. What are the "team" doing to make checks that the investment coming in will be from halal sources?
- If your "team" consists of for example Sunni Muslim following the teaching of Imam Abu Hanifa will you accept investment from followers of Mirza Qadiani? Please write your reply. If you accept the investment will your project remain Shariah compliant? What are the "team" doing to make checks that the investment coming in will be from halal sources?
- Why is the "team" having an ICO without making it clear that the project will never be Shariah compliant if the investors are using Haraam money to fund this project? What are the "team" doing to make checks that the investment coming in will be from halal sources? Please explain if accepting money from those sources will make this project anti-Shariah?
- What checks are the "team" making to ensure that those people who advocate harm against the Muslim community and promote Islamophobia are not funding this project? Please explain if accepting money from those sources will make this project anti-Shariah?
I can ask more questions to show you will not be Shariah compliant but please do reply to the above questions and prove me wrong, I will be the first to take my hat of to you and congratulate you.
Please also explain if your Bounty program will be Halal and Shariah compliant, if it will be please explain how? What will make it Halal. Thank you
Well well, good thing I saw this and got some advice from a friend who is a Muslim. Most of what is written next is thanks to him so I cannot take credit for it....
Last year Halal Coin came on to the scene making all the right noises but it sank without a trace:
Halal Coin https://www.halal-coin.org/
Will this Halal Exchange go the same way as that Halal Coin?
Any exchange claiming to be Shariah compliant is no more no less Shariah compliant than most other exchanges.
It seems people behind Adab Solutions are trying to corner the Islamic investors market by promoting Shariah as its unique selling point but there is nothing more or less Shariah compliance in its format than that of most exchanges out there.
The process is virtually the same regardless of which non-FIAT exchanges people use and regardless of which FIAT based exchanges are used.
Non-FIAT exchange:
Customer sends crypto to the exchange and then converts to other crypto, buys/sells and withdraws to his desktop/mobile wallet
FIAT exchange:
Customer sends crypto to the exchange and then converts to other crypto, buys/sells and withdraws to his desktop/mobile wallet
or
Customer sends crypto to the exchange and then converts to other crypto, buys/sells and withdraws cash to his bank account
- Where is the Shariah compliant part in any of the above processes?
- Where is the non-Shariah compliant part in any of the above processes?
Will the OP actually explain which part of the processes of the exchange make it Shariah compliant by being Halal (acceptable practice in Islam, permissible) and which part of the processes of the exchange make it Haraam (not allowed or acceptable in Islam, forbidden)
Until or unless I see the evidence provided by from the "team" behind this exchange, from what I see the people behind this exchange are opportunistic trying to pull in investors from the Muslim community by not explaining to them exactly how their core business is Shariah compliant.
Please can somebody from the team post back here explaining the following:
- Which branch of Islam does each and every Muslim on the board/team of this exchange belong to (Sunni or Shia or anything else and which denomination of those branches) so it will allow investors to know if the people behind the project are in fact Muslim sharing the same interpretation of Qur'an and Hadith as investors or those that claim to be Muslim but have nothing about Islam within them. Which school of thought (Maliki, Hanifi, Sha'fi, Hanbali) does each and every board member and team member that claims to be Muslim actually follow? Or do they follow some other school of thought?
- Would you expect a Sunni Muslim following say for example the teaching of Imam Malik to invest in a project that is operated by your "team" if you are all Mirza Qadiani followers? Please write your reply. What are the "team" doing to make checks that the investment coming in will be from halal sources?
- If your "team" consists of for example Sunni Muslim following the teaching of Imam Abu Hanifa will you accept investment from followers of Mirza Qadiani? Please write your reply. If you accept the investment will your project remain Shariah compliant? What are the "team" doing to make checks that the investment coming in will be from halal sources?
- Why is the "team" having an ICO without making it clear that the project will never be Shariah compliant if the investors are using Haraam money to fund this project? What are the "team" doing to make checks that the investment coming in will be from halal sources? Please explain if accepting money from those sources will make this project anti-Shariah?
- What checks are the "team" making to ensure that those people who advocate harm against the Muslim community and promote Islamophobia are not funding this project? Please explain if accepting money from those sources will make this project anti-Shariah?
I can ask more questions to show you will not be Shariah compliant but please do reply to the above questions and prove me wrong, I will be the first to take my hat of to you and congratulate you.
Please also explain if your Bounty program will be Halal and Shariah compliant, if it will be please explain how? What will make it Halal. Thank you
October 17, 2018, 10:49:47 AM
Sometimes ICO-projects are registered in countries where it is possible to do the laws of the country. And the team can be from different countries. Anyway, the team follows its plans.
Even a team of different countries must accept the rules of the country in which the project is being developed, and this will be correct. October 17, 2018, 09:45:30 AM
Adab Haraam exchange = scam
The Kazakhstan trio behind this scam have not declared if they are Muslim and if so of which denomination so this cannot be Shariah compliant or Halal
The Kazakhstan trio behind this scam have not declared if they are Muslim and if so of which denomination so this cannot be Shariah compliant or Halal
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.
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.
I repeat from an earlier post: Thanks to the bots and airdrop and free token seekers who have pumped and flooded this thread and thanks to the lies thrown in my direction I have dedicated the Scam Alert signature just for you and your beloved Adab Haraam exchange. I hope you like it. Thank you.
I will try be back at least once to make sure I post on every new page to re-iterate the message this "project" is a scam
Timur Turzhan - CEO, Founder
Rustam Turzhan - COO, co-founder
Maxat Salpyn - Deputy CEO of Islamic Finance
You three are from Kazakhstan so are you all Muslim?
It is important to ask this question because you are main protagonists behind this scam called Adab Haraam exchange.
Which sect or interpretation of Shariah or Islam do you claim follow?
If you are Muslims are you Sunni?
If you are Muslims clarify are you Hanafi?
If you are Muslims clarify are you non-denominational Muslims?
We await your answers to find out how much you follow Shariah
Wiki (https://en.wikipedia.org/wiki/Kazakhstan#Religion):
"Some figures show that non-denominational Muslims form the majority, while others indicate that most Muslims in the country are Sunnis following the Hanafi school."
Why do you think you can accept investment from the following and it can still be Shariah? :
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
those that own breweries and manufacture alcohol
This is a scam ICO and scam project. Any and all projects cannot be Halal or Shariah compliant if they are willing to take ICO funding from the above list and more.
October 17, 2018, 09:42:46 AM
Sometimes ICO-projects are registered in countries where it is possible to do the laws of the country. And the team can be from different countries. Anyway, the team follows its plans.
They have not yet violated anything from the norms of Sharia, everything is legal, because everything wants to be better than for its people. October 17, 2018, 09:33:14 AM
I have not something common with muslims and I don't even know all specific of shariah norms and why it is required to apply shariah norms in crypto, but i will learn something more on this subject and get back then.
The project is for Muslims, yes, but it can also be taken to itself and ordinary users, it’s not very profitable to work for a specific target audience. 
October 17, 2018, 09:24:24 AM
I have not something common with muslims and I don't even know all specific of shariah norms and why it is required to apply shariah norms in crypto, but i will learn something more on this subject and get back then.
October 17, 2018, 09:12:32 AM
Sometimes ICO-projects are registered in countries where it is possible to do the laws of the country. And the team can be from different countries. Anyway, the team follows its plans.
October 17, 2018, 09:10:51 AM
As far as I know in Kazakhstan 70% of population is muslims, so they now about islamic banking as well and they keep shariah rules I guess.
How important is the country of origin of the project? I mean the success of the project in the ICO stage and in the future. Perhaps many projects are registered in countries where the laws of the country allow it.Jump to: