Topic: [ANN] ADAB - First Islamic Crypto Exchange, based on the Shariah norms - page 170. (Read 87067 times)

I also think that ADAB has chances to be among  leaders. That is why I plan to sell a few coins and invest in this ICO

There will never be consensus on the issue of Shariah because it means "God's immutable divine law" and that is based on Islamic jurisprudence on the interpretations on scholars. Some of those scholars are considered Sunni. So those following Sunni interpretations of Shariah are seen as misguided and maybe heretics by non Sunni followers and vice-versa.

What is "Shariah" and what is "not Shariah" is based solely on the opinions of the one who calls him or herself a Muslim because they are expressing an opinion on:

-which scholar, school of thought and jurisprudence to follow
-which scholar, school of thought and jurisprudence they deem otherwise acceptable but decline to follow themselves
-which scholar, school of thought and jurisprudence followers are considered heretics

The idea these scammers can ask for funding in an ICO allowing any one including criminals to invest in a supposedly "Shariah Exchange or product" ensures that this cannot be a Halal or Shariah compliant project.

The team behind Adab Exchange are scammers. Please do not invest in their project because if the first step in business is based on a lie then you can expect nearly all future steps to be containing lies too.

Recently saw a couple of Arab projects. They all look very promising, but I think it's worth being careful with ICO as a whole.There are a lot of scam now..

The conference is the right step to the successful future of the project! Were you able to attract future investors to this event?

I would like to hear the opinion of an authoritative person in this field. What I read on the Internet and about the ADAM project and about the relationship between cryptocurrency and Islam. Everywhere everything is written differently. There is no consensus.

Yes you are right experts should have a say.

The people behind this project are too busy hiring swanky hotels to make presentations using massive slide shows and smart boards trying to lure investors in through their ICO when they should be explaining themselves answering questions.

This is NOT a Shariah compliant exchange. Simple.

It would be desirable to hear opinion of the experts understanding Sharia. I tried to understand - but could not. Interpretation of different norms differs at different experts...

I understand now, thank you for pointing it out.

This project might be called a scam because if it does not do what the whitepaper and publicity claims then it is misleading, therefore a scam.

He also says that he is familiar with Sharia and therefore it is not clear as developers will make to its meeting these standards

Really?

If you are "familiar with the religious norms of Islam and it is very interesting to me how developers will make their product in compliance  with the norms of Shariah.."

Please explain how they will do it because nobody else seems to know. Thank you.

According to fact about  this project developing, I can say that so far everything is going well and there is no reason to think that this is a scam.

I am familiar with the religious norms of Islam and it is very interesting to me how developers will make their product in compliance  with the norms of Shariah..

in fact, hype is really important for the project, but it is not a crucial  factor. I think that ADAB will be able to collect softcap, but I am not sure that the project will be fully implemented.

@Adab Team


There is nothing in this ADAB exchange that makes it more or less Shariah compliant than any other exchange out there.

For non Muslim investors this is just another investment opportunity which they will have to investigate before deciding to invest or not.

For Muslims they would like to see evidence of Shariah compliance in this exchange and non-Shariah compliance in other exchanges and that evidence must be provided by the people claiming to be offering the Shariah compliant product in other words Adab Exchange.

I see glossary photos, lots of paid promotions and so on involving what appear to be either non-Muslim people making presentations or those who claim to be Muslim but nobody knows if they are Muslim or not.

1) Why did these Adab people use Islam as their unique selling point to ask for ICO funding when they could simply have created the exact exchange but without trying to say it is Shariah compliant when it clearly cannot be any more or less Shariah compliant or acceptable than Binance, Poloniex and the rest...

2) What are the specific factors making this project Shariah compliant?

3) And which interpretation of Shariah is being applied?

-Is it Sunni? If so which one Hanafi, Maliki, Sha'fi or Hanbali?

-Is it Shia? If so which one Ismaili Shia, Twelver Shia or other?

-Is it Druze if so which denomination?

-Is it Alawites, if so which denomination?

4) Whichever interpretation or version you deem to be the correct one, which of the other denominations and branches of Islam would you (because of your teaching and following) class as either heretics or complete non-believers?

5) Would you accept investment from peoples or groups you deem to be non-believers or heretics? Please explain why

6) Would your project accept ICO funding and private funding from non-Muslim investors?

-If yes, would it remain Shariah compliant if you could not ascertain if that funding came from Haraam income?
-If no, why would you not accept ICO and private funding from non-Muslims?

7) Would your project accept ICO funding and private funding from Muslim investors if you could not ascertain if that funding came from Haraam income?

-If yes, would it remain Shariah compliant if you could not ascertain if that funding came from Haraam income?

Thank you looking forward to your reply

In general, in order to understand the ICO, you need to sort it out, so that later there are no questions

I appreciated the project very well, I hope all the excuses are

I have relatively small experience in investing in ICO projects, but unfortunately I trapped to scam projects. They were mostly Russian ICO. I will follow this project to see how it develops..

It is clear marketing is working and hype positive one has started to build with every passing day. They are doing fine on marketing end and its results will be seen when public crowdfunding round goes live. If I am not judging the scenario wrongly it looks like fomo is starting and we will see lot of investment in very early hours.

Invest in it well, I do not argue, in the future it will bring more of its results

Well, let's see how it will be in the future, if the project is really normal, it will be ok