I thought ICO is needed to raise money for product development and founders don't need to invest own money to make a product.
Why do you stress the fact of not having own funds?
Topic: [ANN] ADAB - First Islamic Crypto Exchange, based on the Shariah norms - page 82. (Read 87070 times)
October 23, 2018, 05:36:16 AM
October 23, 2018, 05:25:40 AM
Hey Maxat Salypn from Kazakhstan but now living in Uzbekistan but I still am waiting for a reply....
I know you are a non-denominational Muslim so it means you do not follow Shariah so can you get back to my post and explain why you are preaching Shariah when you do not follow it yourself?
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
October 23, 2018, 05:23:19 AM
Haha what a pathetic cheap plugin website using freebie cms
These fools 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. On top of that there is nothing Islamic or Shariah about the ICO fundraising part of the exchange because they are happy to accept funding from prostitutes and pimps[/b]
The trio from Kazakhstan but living in Uzbekistan are "non-denominational Muslims" so it means the cannot follow Shariah or preach its principles to anybody else. They are happy to accept ICO funding from the following so how can they be Muslim or comply with Shariah?
October 23, 2018, 05:22:51 AM
So weird seeing this guy repeating the same questions. Ok, if you were fired, then give away with money you held and that's it!
But this fool wants to disrespect community members!
But this fool wants to disrespect community members!
October 23, 2018, 05:14:16 AM
Well, first of all, they have a 90% of bots and airdropers in the community.
Second, they invite people without permission in their community channels.
They have a bunch of people pumping this thread.
And LAST they are not transparent - is that what you call Shariah norms?
Second, they invite people without permission in their community channels.
They have a bunch of people pumping this thread.
And LAST they are not transparent - is that what you call Shariah norms?
Yes very sad that 99% of the posts here are by Adab Haraam exchange "scammer bots", "give-me-bounty-for-each-incoherent-post-I-make-to-pump-this-thread", "freebie token seeking vagabonds" and "airdrop beggars" keep pumping up the thread.
I asked Abeer Mousa from Egypt (Community Development Manager) what she was doing about the flooding of scammers in the thread but she is too buy chasing after people on the Telegram to take an interest here so she left it to user whitetoo and his cronies
October 23, 2018, 05:13:24 AM
We need to wait for the alpha version of the platform, and then draw final conclusions.
Yes, but pre-sales take place right now, you should understand that if you decide to wait for the alpha version of the platform, then the price of tokens will increase. October 23, 2018, 05:13:15 AM
Nice to communicate with adequate educated people.
We are working on such a question - how to prevent artificial control of the price of assets. We are actively working on the procedures for the exchange. Including this will be due to regulatory requirements. From this will also follow what sanctions will be applied for such attempts. But the fact that we will follow this carefully is certain, because otherwise we will be punished. And the matter is not so much in compliance with the rules of Islamic finance, as in compliance with the laws. Any manipulation of the market is illegal.
with best regards
Thanks... but you didnt answer
Ask a question again please. maybe I missed somethingAnd ICO means - to be transparent, so why dont you then use banks in order not to be transparent? what is the point of ICO?
I already answered you. Of course, ICO is a transparent process. But there is a stage of a closed private sale. At this stage we cannot provide evidence. I think to solve this problem, you should wait until the end of Private Sale and the start of Presale. Then everything will become transparent. That's all I can tell you now...Thanks for your answer, but still he is a part of your team.
No. Maybe you confuse Muhammad Abu Bakar(advisor) with Mufti Faraz Adam(Internal Shariah Compliance Officer).how actually you are going to benefit financially?
The profit for the project team will be just like the profit of any other exchange. The commission from the transaction, the rise in the price of business, the rise in the price of tokens, listings of other coins...I mean why should smb buy your token now if he/she can buy it after ICO?
Participants of the second stage of the Private sale are able to receive a bonus up to 50%. a few weeks ago this bonus was up to 80%. When the token will be listed on exchange and will be liquid, then it is easy to calculate the profit.It is easy to manipulate the price of given crypto instrument (if you have enough money to-do so). So my question - what happen if smb start performing pump and dump actions to the Shari'ah approved token?
I don't know if there will be any sanctions for this. My answer is:We are working on such a question - how to prevent artificial control of the price of assets. We are actively working on the procedures for the exchange. Including this will be due to regulatory requirements. From this will also follow what sanctions will be applied for such attempts. But the fact that we will follow this carefully is certain, because otherwise we will be punished. And the matter is not so much in compliance with the rules of Islamic finance, as in compliance with the laws. Any manipulation of the market is illegal.
with best regards
What rubbish !
The scammer fool whitetoo is not even answering what is being asked. His paymasters from Kazakhstan must be reducing his pay for the PR disaster in this thread
The Adab Haraam exchange scammers do not follow Shariah they have been exposed
AVOID ADAB HARAAM EXCHANGE SCAM !!
October 23, 2018, 05:12:53 AM
Man, I can add you in ignore list and show same screenshot. There is no point to demonstrate this.
If you don't want to hear different opinions then don't listen to, CEO has already anwered for all of your questions
If you don't want to hear different opinions then don't listen to, CEO has already anwered for all of your questions
October 23, 2018, 05:07:49 AM
@ Abeer Mousa from Egypt - Community Development Manager -
What are you doing about the flooding of scammers in the thread Abeer?
Why are there 30+ multiple aliases are posting here to pump the thread?
October 23, 2018, 05:01:24 AM
I am totally sure that Adab team is legit. yeah, probably their product isn't perfect yet, but ICO is not finished yet and they have MVP!
We need to wait for the alpha version of the platform, and then draw final conclusions. October 23, 2018, 04:58:48 AM
I am totally sure that Adab team is legit. yeah, probably their product isn't perfect yet, but ICO is not finished yet and they have MVP!
We need to wait for the alpha version of the platform, and then draw final conclusions. October 23, 2018, 04:57:25 AM
I am totally sure that Adab team is legit. yeah, probably their product isn't perfect yet, but ICO is not finished yet and they have MVP!
October 23, 2018, 04:39:19 AM
Many traders on crypto-currency exchanges do not even know which project a token belongs to. They only care about making a profit. ADAB will take care of finding out the fate of the origin of tokens.
October 23, 2018, 04:34:32 AM
October 23, 2018, 04:27:48 AM
I also think they will be operating like other exchanges but excluding to list non shariah tokens connected with gambling, drugs, alcohol etc
With alcohol, drugs, etc. all clear. But how will they deal with the issue of inclusion of tokens to trade? There are many different tokens. Some Muslims may disagree with them about the Halal value of some token. October 23, 2018, 04:21:55 AM
It is difficult to be guided in certain matters by the rules of religion. It is even more difficult when norms can be interpreted in different ways. ADAB has set itself a difficult task.
October 23, 2018, 04:15:13 AM
I am confused by the fact that the ADAB-exchange will trade only the main crypto-currencies. Perhaps by Shariah norms this is the right decision. But in order to attract as many people as possible, including non-Muslims, the exchange must trade various types of cryptocurrencies.
Why do you think so ? I do not see such information anywhere.
October 23, 2018, 04:09:25 AM
I also think they will be operating like other exchanges but excluding to list non shariah tokens connected with gambling, drugs, alcohol etc
With alcohol, drugs, etc. all clear. But how will they deal with the issue of inclusion of tokens to trade? There are many different tokens. Some Muslims may disagree with them about the Halal value of some token. October 23, 2018, 04:05:51 AM
I am confused by the fact that the ADAB-exchange will trade only the main crypto-currencies. Perhaps by Shariah norms this is the right decision. But in order to attract as many people as possible, including non-Muslims, the exchange must trade various types of cryptocurrencies.
Why do you think so ? I do not see such information anywhere.
October 23, 2018, 04:04:44 AM
First islamic crypto exchange must have unique design, not similar with previous exchanges.
You can also add something islamic as well.
You can also add something islamic as well.
yes, it must. but as you can see their Exchange have nothing unique.
infact they don't have any exchange they just used available plugins and tools and created an exchange which is no way unique and especially and literally has nothing Islamic in it.
I have to agree with most of the users here that it's just another scam project.
they are using name of Islam to scam the muslim community.
Thank you for the kind post. I appreciate it.
Yes there is nothing unique about this Adab Haraam exchange scammers website. It is just an ugly pathetic looking piece of rubbish website that is never going to take on any exchange. The scammers are lying by calling it Shariah compliant but it is Haraam !!
The pathetic website looks like some hideous software coded 20 years ago and the Adab Haraam exchange scammers are using tradingview.com to get their stats for their "exchange" that claim was custom coded and "developed". Nothing custom coded here, all available plugin software including their cms platform
I agree with you they are using the name of Islam and Shariah to scam the Muslim community.
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