Topic: [ANN] ADAB - First Islamic Crypto Exchange, based on the Shariah norms - page 27. (Read 87084 times)

Hello friends!

We want to post answers to frequently asked questions.

- When can we show a smart contract?

The smart contract address will be published during the crowdsale. Since it will begin public sales. Now we don't have the right to show a smart contract and any evidence.  Now there is a stage "private sale." At this stage, the amount of funds raised is not disclosed and facts are not shown. We did so stupid because we told you that we collected soft cap. Because of this, as you see, we have small problems, but everything will be fine.


- Evidence that we have already collected soft cap. Any documents, contracts or something else like that.

We do not have the right to show the collected soft cap at this stage. all funds were received during private sale and most of the funds were received in the form of fiat funds. Private sale is called "PRIVATE" because it is NOT public sales and NOT public information. Most of the funds were received from private investors. All projects that have a PRIVATE SALE stage DON'T show a smart contract and other evidence during this stage! We are not alone! We are not the first and We are not the last to do it! Don't confuse "PRIVATE SALE" with "PRESALE".

- Regarding each team member who is represented on the site. What religion do we follow?  And whether this or that person has any qualification in the field of Islamic finance.

All three Kazakh members (Rustam Turzhan, Timur Turzhan and Maxat Salpyn) are Muslims and belong to Hanafi (Sunni) school of thoughts as the majority of Kazakh people.

As for the Shariah Advisory Board of FICE, I would like to mention that the Islamic finance industry is heavily dependent on religious scholars for validation of its products and services. Each Islamic financial institution has a Shariah board to validate its operation. The scholars in our Shariah Board will represent different schools of thought within the Sunni sect of Islam. Sunnis are in majority and they follow one of the four schools of thought of Sunny Islam. The differences among them are very minor. Furthermore, a scholar who may otherwise belong to a particular school of though does refer to the opinion of the past or present scholars of a different school of thought in making a decision on the validity of a product or service.

Most of the team are Muslim by religion and adhere to the Sunni trend.
Confirmation is the recognition that there is no God except Allah and Muhammad is his prophet! Maxat Salpyn, Mufti Faraz Adam and Mufti Abu Bakar have qualifications in the field of Islamic finance.


- Concerning the beta version. When will the beta version of the exchange?

The dev team is working hard to create an exchange.
In the current version is ready the main engine exchange. You can check the correctness of his work yourself by sending different orders. You can check the correctness of the order match book, balance tests and market indicators. All this is our original design. At this stage, we are working hard on interaction protocols, system scaling, implementation of business logic of all orders to be launched, deployment of infrastructure blockchain, security and new design, technical analysis elements. I hope you will appreciate our achievements in these areas soon. We will try to update our system more often. Beta version will be ready by February.


- Concerning the MVP. @JollyGood writes that the MVP is a plugin bought for $ 20. What can we answer?

The answer will be short. This is our own development. Honestly, we don't know how to prove it. But this is not a purchased plugin. If you have any idea how to prove it, then suggest us.


- some arguments or evidence that this exchange and this token are halal and comply with Shariah law.

Mufti Faraz Adam issued a conclusion that the ICO and ADAB token comply with the principles of Islamic finance, based on Shariah law. https://bitcointalksearch.org/topic/m.48182957

The work of the exchange will be based on procedures developed by the internal Shariah Department and approved by the Shariah Council.

Does anybody know the legal situation in the UAE if Kazakhstan nationals open a scam company there and then vanish with the funds after the ICO ends?

Hello friends. I want to inform you that @JollyGood is a clown and probably a paid puppet.

I told him 3 times and denied his statements, but he doesn't respond!

1. https://bitcointalksearch.org/topic/m.48223449
2. https://bitcointalksearch.org/topic/m.48215153
3. https://bitcointalksearch.org/topic/m.48182957

So make a conclusion. This person know nothing about the project and only writes the same negative messages. I don't know why the moderators still have not banned him. Let's help them pay attention to this inadequate. Just click "Report to moderator" on his posts.

Burning of tokens will affect price increase. It is a positive information, thank you for sharing! It makes me confident in future price.

Are you going to finish ICO according to deadline?
As far as I know it should happen in the end of this year. Am I right or you will shift dates?

Guys, would you mind thinking about some of your investors? They wants funds to be proven, so I suggest you to disclose in the middle or in the end of tokensale.
But transparecny will bring you new investors!

Usually ICOs don't prove of funds at the pre-sale stage.
Probably they've raised money via fiat investments, that's it! There is nothing strange for me at the moment. At least Adab has unique vision.

It is a scam, there are no T/Cs available for pre-sale.

The project is a scam designed to fool investors.

that's right! Did you manage to sell crypto or still hold? I was in a big loss, but now I started all over again and try to increase my portfolio again

These experts predicted bull run previously and BTC for 50k, so you have to make a conclusion,that experts can be wrong.
Do your own research!

You have to make a deep analysis because when it comes to this scam project.

The Adab haraam exchange team and their Russian bounty scammers whitetoo, 520bit, RoyalTeam, vitalii_invest, Mari Royalteam and all their sock-puppet accounts that pump this thread are compulsive liars.

Where is proof of the $2.5 million soft cap target being reached?

Former BTCC Exchange CEO Bobby Lee claims in one of his interviews that
bear market will last another 18 months! And what do you think?

 

This is a blatant scam by Adab Haraam exchange.

Where is proof of the $2.5 million soft cap target being reached?

The Adab haraam exchange have used their Russian bounty sock-puppet scammers whitetoo, 520bit, RoyalTeam, vitalii_invest, Mari Royalteam and others to spread propaganda using multiple accounts posting incoherent messages to try to create fake buzz and fake hype

I also wanted to immediately start selling coins when the cryptocurrency market began to fall. But then I changed my mind. Because to sell and get a loss, I always have time. I'd rather wait for the market to grow.

 

Where is smart contract link to show the $2.5 million soft cap target being reached?

I do not sell now. I did not dare to sell a month ago and now regret this decision.

its doesnt matter until they show us process of their private sale

Haha what a pathetic cheap plugin website using freebie cms  

These "team" have zero money of their own. They will use the ICO money to build this exchange from scratch and they have no programmer to design the website and exchange on their Team page. for now they have a $5 website template along with freebie tradingview.com plugins, which is there to entice investors but the truth is it looks like a 20 year old trashy website.

There is nothing Islamic or Shariah or religious about the ICO fundraising part of the exchange.

The people behind this scam are happy to accept ICO funding from the illegal and illicit and immoral sources such as from pimps and prostitutes so how can they be claiming to comply with Shariah when they are not following Shariah themselves?

Adab Haraam exchange scammers are hilarious.

They are using Russian bounty scammers including whitetoo, 520bit, RoyalTeam, vitalii_invest, Mari Royalteam and others to flood threads to create fake hype and fake buzz using so many alt-names and sock-puppet accounts.

I also do not trade now, but just waiting for the orders for sale to work. To my great joy, one warrant worked today. I hope that the rest will work soon.

ADAB HARAAM EXCHANGE = SCAM SO PLEASE BEWARE !!







This is part of the article on Medium about the Adab Haraam exchange being a scam:
https://medium.com/@douglaslyons/adab-solutions-exchange-major-red-flags-found-76a86d02e01b?fbclid=IwAR07tXklAZfXCbQcdsAGBmT7ZY0oZ0knBkatMIjy0rdILpgUOgfiDbfwHuI



ADAB Solutions Exchange- MAJOR RED FLAGS FOUND

I recently evaluated the ADAB Solutions project (First Islamic Exchange).

After looking at the comments and scoring given by other “experts”, I was shocked given what I found (or couldnt find).

First and foremost; both the CEO and COO have 0 verifiable work experience. I communicated directly with the CMO and was provided a link to a website for Vangaurd (http://vanguardconsulting.kz/) and told that this is an example of the “experience” of the CEO. After reviewing said website, nothing was found to indicate any involvement of the CEO, and even if there was, this particular business wouldnt qualify anyone in my opinion.

Based on the fact that not only is there 0 verifiable work experience, I am shocked that this project would be given any type of positive evaluation given the fact that as is the intent of the project (crypto exchange) you would think that a serious background in both finance and business would be required, given the potential funds at stake

ADAB Solutions sincerely believes that by following the norms of Sharia, we will be able to perform the moral and socially acceptable behavior, by exclusing all the possibilities of manipulations or speculations within business operations”.

based on this statement taken from the project information, it is my belief that the assertion here is that; because they intend to follow “Islamic Law”, that investors/clients can be assured of security and without the fear of “immoral” behaviour. This to me is nothing more than a marketing ploy, meant to decieve investors into thinking that some type of “moral standard” exists here that is not practiced elsewhere. It is also my understanding that the CEO/COO and Deputy CEO are not even Muslim.

Regardless of one’s own religious beliefs, I can’t think of anything much more cynical than adopting the principles of a religion that is not your own in order to deceive its followers.

Here is an example of a similar ploy perpetrated under the guise of being Shariah “compliant”:
https://www.cbc.ca/news/canada/toronto/2-men-defrauded-shariah-compliant-mortgage-holders-of-millions-of-dollars-crown-tells-trial-1.4867083