Topic: [ANN] ADAB - First Islamic Crypto Exchange, based on the Shariah norms - page 60. (Read 87084 times)

There are lots of doubts about the project. You cannot read through this thread because the Russian scam sock-puppets that buy or scam older or dormant accounts is part of an alliance with RoyalTeam scammers bumping threads to make fake reviews and generate fake buzz.

The growth of the market, of course, will be sometimes, but it also depends on the project. If it is weak, it will never grow.

Agree that the team gave a complete answer. Dividing your answers into many points so that none of the investors have any questions.

What happen, a lot of words about fraud above and everyone almost explained how this project worked by tricking everyone. is this true? This will be something that will make some people doubt about this project.

@whitetoo


It has been over 72 hours (3 days) since I asked the questions. I got replies for the 3 questions directed at you, I appreciate that.

I know they must be busy but is there any update on the 6 questions for the team? Any estimated time they will take to answer?






Q1: You refer to Adab Solutions as "we". You wrote earlier "We are developing a beta version and submit it in January. Just wait and see everything. It will certainly differ significantly from the MVP." What is your position and what is your work within Adab Solutions? You answered several posts highlighting Shariah so are you Muslim? Do you follow Shariah?

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?

Q3: The multiple aliases flooding this thread - who is the owner and what gain is in it for the flooders?

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?

Q5: Will any/all investors that participate in the ICO have to send ID for KYC/AML? If so, why?

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?

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?

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.

If KYC is being done at ICO an pre-ICO stage then why not ask specifically for an annual tax return and letter of employment with salaries stated? Add to that the checking of all available information about the investor such as FB, Twitter, Insta etc to check to see if they are being honest. This might make investment slightly harder by putting investors off but it will filter out those people that should never invest in a Shariah project.

If any project is a standard non-Shariah project then there would be no need to take extra precaution. If a project is based around Shariah then extra precautions must be taken.

Please note, the question is specifically about ICO and pre-ICO stage investment when there is no live business or working product (it is not about anybody using services a live exchange provides). I have read what Maxat Salypn wrote in a generic sense but I need to ask for a specific reply: https://bitcointalksearch.org/topic/m.46790691

Q9: Please explain fully why you lied and said I took money from you and said that that I worked for you and was fired by you.

judging by the scope of the project in the end will not be bad)I wonder what will be the platform itself.

Let's see what the team prepared for us in the future, I think it will be a big step in the world of exchangers

It’s good that the team doesn’t stand aside and we are trying to explain everything to a man, it’s just strange why he has such behavior.

It is simply strange why a person is so negative that he has done a bad project - it is not clear, always his anger shows

This is a serious and detailed response from the official representative of the ADAB project team.
It is interesting to follow the debate!
Now it starts, we stock up on popcorn)))

I will compile all 9 answers you gave and will give my reply.

In the mean time the scammers sock-puppet fake users post here backing up your post  

Market situation matters. It is always easier to work in a growing market.

A very respected man - Maxat Salpyn asked me to answer you.

I think there are all the answers. And you will change the view that I and the ADAB team are scammers.

and I hope all the same that common sense will win and you will understand that these accounts are not mine! go to any thread and see. Everywhere many people write many times! And what do you want to say? are my accounts too? haha... drivel...


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.

I hope that the interface of the exchange is not something that is shown to us on the screens in this thread. I expect something more than just another exchange.

I do not agree. In some projects, the investor go despite the current market situation.

I see you always write here, so I decided to notify you here that I answered your questions.

I think they have not told us everything yet, the project is in development, it means something else will be interesting in the future.

If the ADAB exchange does not announce innovation in terms of organizing trading, how do they plan to attract both traders and crypto projects? I still think that the developers have some hidden trumps!

This is how the project is done for the Muslim people, but it’s not forbidden for other people to invest in the project, there will be rules for their people

@ Community Development Manager  -  Abeer Mousa from Egypt


This is hilarious Abeer..... these scam sock-puppets are part of a bumping threads service making fake reviews and creating fake buzz pumping up the thread praising the Adab Haraam scam exchange to new levels that are pathetic.

You call yourself Community Development Manager?

You ban people on Telegram when they say something that you do not want to answer

Why do you let the one fool make 30+ aliases usernames to post here to pump the thread?

The Russian scammers of 520bit/whitetoo have been exposed

Abeer Mousa you have let the Adab Haraam exchange scam thread be occupied by these scammer sock-puppet flood users because you are part of the conspiracy to scam people by lying.

This is not a Shariah project