Topic: [ANN] ADAB - First Islamic Crypto Exchange, based on the Shariah norms - page 36. (Read 87052 times)

Q2: The 3 Team members that the owners from Kazakhstan - what is their full religious denomination? If Sunni which branch? If Shia' which branch? If anything else, which branch?

All three Kazakh members of the project 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.


Q4: Why did the Team decide to register in Umm Al Quwain rather than Dubai or Abu Dhabi? Why choose UAE over their native Kazakhstan or Uzbekistan?

We have registered in Umm Al Quwain, because that was an easiest and fastest way for that time to get license and resister company. Now we are considering to move to ADGM or DIFC, as we want to have well regulated jurisdiction. Early next year UAE plans to introduce comprehensive regulation on ICOs an blockchain. FICE by itself is under the process of registration in the UK, which has safe and transparent regulation for the crypto exchange and well as confidence all over the world.

Q5: Will any/all investors that participate in the ICO have to send ID for KYC/AML? If so, why?
Investor doesn’t need to send ID for KYC to participate in the ICO.

Q6: KYC is a sensitive issue for many. If the exchange is active and users sign-up and send KYC ID then which precautions are taken to ensure the ID will not be misused?

We guarantee that the data of our customers will be used only as intended. Data security will be provided at the highest level with the partnership with the best company in the world.

Q7: Both Md Mofassair Hossain and Kazi Sohel Alom have been removed from the whitepaper and the Team section of the website. What were real full reasons for their removal?

 Md Mofassair Hossain and Kazi Sohel Alom were an integral part of our company for the last several months. Their contributions will always be valued and remembered. Their hard work, commitment, and dedication are worthy of admiration. We are discussing their future career objectives and, anyway, we wish them the best of luck.


Q8: At present there is no exchange, the business is just a company on paper. Adab Solutions are seeking investment. At the ICO and pre-ICO stage they are unable to fully vet investors therefore they might be getting people sending in funds from illicit, illegal and immoral sources such as prostitution.

You are not right in this sentence. ADAB Solutions is already known globally and has a recognized brand name.  We already in the process of developing and registering the FICE. MVP is ready and our team of Development team is hardly working on the technical side of the FICE and Alfa version of FICE will be presented in January and final Beta version in February. We already developed Shariah screening procedures of the FICE and in a few days will present Shariah conclusion on ADAB token by Mufti Faraz Adam.

We are pleased to announce a new strategic partnership with Credits!
Today ADAB Solutions is delighted to announce a new partner — Credits, a blockchain platform that previously partnered with Lenovo, Humancoin, and Sparkster. Credits collected $20 mln within 17 hours from over 15,000 contributors during their ICO.
https://medium.com/adab-solutions/we-are-pleased-to-announce-a-new-strategic-partnership-with-credits-a0ee70bd3f1c

Properly selected advertising is the key to success in the main project in the further promotion of the market.

Important not only advertising. Advertising can be many and different, but if there is no quality, the exchange will not enjoy popularity.

A smart contract should not only be written, but an audit of this smart contract on the presence of various vulnerabilities should be conducted.

I'm really disappointed that they use religion for scam. I had a big hopes for this project pfff.

has it been proven that there is no truth in this project and there is no continuation or even good news from the team.

i have seen and heard about this scam accusations from some member on this forum, i do not yet if these accusations are true or false, but am waiting on the ceo if no ward from them, then we shall see.

I don't know why many members see Adab as a Scam project, what is wrong with Adab? is it about their Islamic theme platform? and many people don't like it? I think the CEO must respond to this!

Important not only advertising. Advertising can be many and different, but if there is no quality, the exchange will not enjoy popularity.

I'm really disappointed that they use religion for scam. I had a big hopes for this project pfff.

A smart contract should not only be written, but an audit of this smart contract on the presence of various vulnerabilities should be conducted.

ADAB's CEO will never respond, but I guess they already delegated the OP of this thread to answer any questions about ADAB exchange, so do not wait just ask the OP.

Guys,smart contracts are showing transparency and in most cases should be written BEFORE tokensale to make an audit by 3rd party and let investors analyse it

I don't know why many members see Adab as a Scam project, what is wrong with Adab? is it about their Islamic theme platform? and many people don't like it? I think the CEO must respond to this!

I do not know. In my case, ADAB is the first project related to Islam. I am curious to watch it.

I will continue my work and waiting ceo make clarification about scam  maybe in youtube or make Q and A in facebook or anything else  

But for a project to be popular, you need to constantly do advertising and make people not forget about the project.