[ANN] ADAB - First Islamic Crypto Exchange, based on the Shariah norms - page 30.

JollyGood

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Dear Members Of The BitcoinTalk Community,

THIS ADAB HARAAM EXCHANGE IS A BIG SCAM -- WARNING!!

The OP called whitetoo is alt-name for another account called 520bit and RoyalTeam and several others.

These fake accounts flood threads with sock-puppets for posting propaganda and used to generate fake hype and fake buzz

ADAB HARAAM EXCHANGE = SCAM SO PLEASE BEWARE !!

buttnonslet

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Activity: 62

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Quote from: jaksone on November 23, 2018, 10:44:47 PM

In subsequent developments for unsold tokens(ADAB), will it be burned or destroyed later to boost the value of tokens on the market?

Yes, it is planned to burn some of the tokens, as far as I know. But for a start the ICO should end.

Ring8523

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Activity: 123

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Quote from: FORTUNA88 on November 21, 2018, 10:41:35 AM

Quote from: buttnonslet on November 21, 2018, 07:08:44 AM

Quote from: lkjhg on November 21, 2018, 01:30:26 AM

Quote from: drrekkty on November 21, 2018, 01:25:18 AM

Quote from: Saisher on November 19, 2018, 07:00:45 AM

Wow this thread is all messed up I wonder if they are doing good in their sales, they should answer all these accusations but their channel is doing great a lot of updates here, despite all of these they manage to attract support, following this thread for more update of they will succeed or not.

I haven't follow this thread for a period of time and it seems like a progress for adab collections.
Their community has a growth, some positive news, but market is hard at the moment...

the market is currently flushing, because of the bitcoin civil war, I know ADAB is a good project,
but if the market with a situation like this certainly ICO will not develop well

Each participant must decide to participate in the project or not. And assess the risks, including the situation on the market.

I think that in the coming days, investors will not buy a single token at all, because it is not clear what will happen next with the course of Bitcoin.

In any case, this situation is unlikely to last long. Soon it will become clear whether the market is moving further down or is turning up.

MoLoKo789

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Activity: 168

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Here are some recent notes posted by the team in their social groups:

Quote

Ethical uncertainty of Muslims regarding the admissibility of work on the crypto market leads to distancing, and as a result to non-involvement of the Muslim community in the technologically innovative financial sector, ADAB Solutions will solve this probems

Quote

By purchasing ADAB tokens now and participating in a project designed for a large community, you not only share with us the benefits of entering the new fast-growing market of Islamic crypto-economics, but also contribute to the development of a new areas

Charisma359

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Activity: 238

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Quote from: Freddy63 on November 23, 2018, 12:21:46 AM

Hey guys, what about updates? Any upcoming events and meet ups?
I think supporters need some news about Adab. We want hearing some positive steps

Typically, fresh news is regularly published in social networking groups to create movement and communication. But discussing the news is convenient here already in the forum topic.

JollyGood

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More sock-puppet accounts to post propaganda here

Please avoid Adab Haraam exchange

Enchantment99

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Quote from: whitetoo on November 24, 2018, 07:03:05 AM

I just received a 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

Thanks for this text. He helped me in the evening to get acquainted with the information when I could not listen to the video. Everything is told in an accessible language, the examples are simple and straightforward.

FORTUNA88

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Activity: 98

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Quote from: drrekkty on November 24, 2018, 01:57:11 AM

Quote from: spawn4ever on November 23, 2018, 03:59:24 PM

Quote from: whitetoo on November 22, 2018, 02:28:45 PM

Make your Black Friday Beneficial with ADAB Solutions

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

so, if you offer this will you refund early participants of your pre-sale?

I don't think so,because it is exclusive offer just to follow tradition of Black friday.
It should increase money flow and get new investors this day.

If all businessmen use the opportunity to sell more goods at a discount on Black Friday, then why can't the ADAB team do this? This is a common publicity stunt.

JollyGood

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Quote from: I3arni on November 24, 2018, 07:06:00 AM

Quote from: daly896 on November 24, 2018, 01:42:52 AM

Hey guys!
What do you think about collection progress? How is it going? Will everything be done according to roadmap? Any delays?

they dont show us progress of colecting funds

The reason they do not show is because they are scammers. The whole project is a scam designed to fool people in to investing.

I3arni

full member

Activity: 616

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HOLD CRYPTO!!!!

Quote from: daly896 on November 24, 2018, 01:42:52 AM

Hey guys!
What do you think about collection progress? How is it going? Will everything be done according to roadmap? Any delays?

they dont show us progress of colecting funds

whitetoo

sr. member

Activity: 588

Merit: 251

Quote from: jtalk on November 24, 2018, 03:12:44 AM

I would like draw attention to one fact about UAE's strict laws without caring what they are selling or not. I was watching this thread for long time and timely read what is going on here. Based on ground realities I don't think they will take risk using UAE's name to deceive people as there is no forgiveness for such activities in local laws. I will let this comment here and based on this to judge the project.

thanks for your reply. We appreciate your opinion and attention.

I just received a 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

JollyGood

legendary

Activity: 2534

Merit: 1713

Top Crypto Casino

BEWARE !!

Adab Haraam exchange are scammers using sock-puppets to create fake buzz and fake hype.

Please avoid this scam

jtalk

legendary

Activity: 1610

Merit: 1004

I would like draw attention to one fact about UAE's strict laws without caring what they are selling or not. I was watching this thread for long time and timely read what is going on here. Based on ground realities I don't think they will take risk using UAE's name to deceive people as there is no forgiveness for such activities in local laws. I will let this comment here and based on this to judge the project.

trobbert

member

Activity: 462

Merit: 10

To my mind islamic banking should be developed in blockchain sphere.
It is the best option for Adab to develop product in this sphere,because there aren't competitors.

drrekkty

member

Activity: 462

Merit: 10

Mates, what do you think about islamic banking in general?
is it a good way to make a business in this sphere?

daly896

member

Activity: 434

Merit: 10

BITWIN

I am definitely sure that the first islamic crypto exchange will be popular in United Arab Emirates.
Marketing strategy should be concentrated on this direction,it is for sure!

drrekkty

member

Activity: 462

Merit: 10

Quote from: spawn4ever on November 23, 2018, 03:59:24 PM

Quote from: whitetoo on November 22, 2018, 02:28:45 PM

Make your Black Friday Beneficial with ADAB Solutions

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

so, if you offer this will you refund early participants of your pre-sale?

I don't think so,because it is exclusive offer just to follow tradition of Black friday.
It should increase money flow and get new investors this day.

daly896

member

Activity: 434

Merit: 10

BITWIN

Hey guys!
What do you think about collection progress? How is it going? Will everything be done according to roadmap? Any delays?

trobbert

member

Activity: 462

Merit: 10

Quote from: jaksone on November 23, 2018, 10:44:47 PM

In subsequent developments for unsold tokens(ADAB), will it be burned or destroyed later to boost the value of tokens on the market?

I would like to get an answer for this question as well.
usually such projects burn tokens to increase value of token.

jaksone

sr. member

Activity: 686

Merit: 250

In subsequent developments for unsold tokens(ADAB), will it be burned or destroyed later to boost the value of tokens on the market?

Topic: [ANN] ADAB - First Islamic Crypto Exchange, based on the Shariah norms - page 30. (Read 87084 times)