Topic: SCAM ALERT!! ADAB EXCHANGE - So Called Islamic Crypto Exchange is Haraam - page 6. (Read 20806 times)

As far as Shariah is concerned no non-Muslim can give advice or instructions about Shariah rules and regulations. Simple.

If a joker/clown from the circus who is an atheist is hired by a business claiming to be Jewish or Christian or Hindu or Buddhist or Sikh (or anything else) to advise them on their religious practices or jurisprudence people would LAUGH as they would never be taken seriously.

If the same businesses run by peopel claiming to be Jewish or Christian or Hindu or Buddhist or Sikh (or anything else) hired the atheist joker/clown from the circus to advise them on business matters as it was not related to Jewish or Christian or Hindu or Buddhist or Sikh (or anything else) then it would be no problem.

The Shariah exchange cannot be Shariah compliant because the funds received in the ICO (which are used to make the Adab Haraam exchange go live) cannot be clearly certified as Halal because there are no checks to see where the funds came from. If a prostitute or pimp buy in to the ICO then it cannot be Shariah compliant. There are far too many examples to give but the key point is if they cannot or will not vet every investor pre-ICO and post-ICO then they cannot be Shariah compliant exchange. In that case they would just be an exchange.

Once that exchange has started if they claim to trade in Shariah manners then it is a lie because the foundations of the funding are compromised.

my point is, sharia compliant exchange mean sharia compliant exchange, like no margin or no stoploss/limit (edit: here found link https://www.daytrading.com/halal), your problem is if they say "fully sharia compliant project" or "sharia compliant ICO/investment".
and again non-muslims not mean to be avoided, unless they give advice about sharia law, islamic law because simply they are non-muslim. and abou that Md i can't comment

The answer was given by user int he Adab exchange thread and I posted a reply:

https://bitcointalksearch.org/topic/m.46759879

https://bitcointalksearch.org/topic/m.46761011

The fact they can but will not check where the money is coming from mean they cannot call it Halal and cannot call it Shariah compliant.

What if the money in the ICO is sent from a gambling website or casino?
What if the money in the ICO is sent from drug/narcotic dealers?
What if the money in the ICO is sent from a brewery/distillery that manufactures alcohol?

If they want an exchange they should do it, I wish them success but they should drop the word Shariah because they are not Shariah compliant.

How is it possible that something such as a Shariah company has non-Muslims advising them? How is it possible a Shariah company is being advised by those who do not believe in Shariah?

How can you have an advisor who has a Muslim name Muhammad/Mohammed but wants to shorten it to "Md" to avoid using it? https://bitcointalksearch.org/topic/m.46549723

Shame on Adab exchange scammers

i'm also not expert in sharia law, but:
- this is exchange project, they give you service, exchange site (marketplace) service. and they charging fee, not interest. fee is permissible
- short or long trading depends on exchange users, it's their responsibility to do halal/haram trading. this exchange just want to provide "sharia compliant" exchange
- ICO is one thing and exchange (its product) is another thing. and how u can judge ppl a thief, or "this money acquired in haram way" in this blockchain world? but even if we know "she is porn star", u still can accept her investment, although better to refrain. https://islamqa.info/en/126486
- islam not seeing non believers as ppls who need to be avoided


i'm not adab team, i just want to give my opinion

This is not a good situation of crypto, and it needs a serious action from the muslim Government in order that those people behind scam attempt will be pursuit by their law enforcement team. The reputations of crypto will be destroyed if this type of transactions will continue to victimized people, and because of this crime crypto users will be decreasing in numbers.

Yes you are right. No company will be able to sceen, filter and assess ALL investors therefore by default this cannot be a Shariah or Halal project.

The only thing it can be is a scam. Adab exchange = scam

Because they have no vetting system in place to ensure investors buy in to the ICO with Halal/permissible money, it means (by default) they are willing to take investment from the following and more:

pimps
prostitutes
porn actors
those currently behind bars in prison serving prison sentences
those that sell drugs/narcotics
those that manufacture, test and sell weapons
those that own publications online/print media cursing Muslims and those that have anti-Muslim agenda
those that own, transport or sells alcohol


Any investment from the above and more means the project cannot be "Shariah" compliant yet these clowns say they are offering a Shariah compliant exchange?

Pathetic scammers trying to fools Muslim and wider investors...  

There are many ways to be anonymous in crypto. They will not be able to screen all the investor profiles for that matter. Pretty much a scam to me.

The Adab exchange are not following Shariah norms. They are a scam. There is no guarantee the proof they provide is genuine or not because if they can lie about this Adab exchange when it is really not Shariah compliant then they can lie about anything....

... and why? Because they want money. Simple.

Please be careful with your statements let's not to drive the discussion the wrong way. Focus on scamming points to enrich the discussion.

You can ask them to provide proves if they reach the soft cap. Following Shariah norms are being honest, am I right?

Well they claim to have reached the soft cap: https://bitcointalksearch.org/topic/m.46495425

Shame on these Adab exchange scammers for misusing any religion to promote their fake unethical business project which contradicts the exact principles they claim to promote.

I would like to distance myself from comments posted here by Shantar_Islands and cryptoland4 because I do not endorse some of their views.

I have seen this Adab promotion and announcement, in fact, they have an ongoing ICO and bounty campaign, but with this serious accusations they might not reach the softcap, but people here are profit motivated if they saw that they have reached the softcap they might also tempt to invest even if the reputation is not good,I'm not speaking for all investors of course.

I confirm all above.

As a person who dealt with Muslims, I want to say that they are extremely honest people. And many scammers use their reputation to trick people.
And most often, scammers that posing as Muslims are citizens of Israel.

Be together to stop scam projects 
We must exposure them every where

I agree. I hope they remove the word Shariah from their business model because they are lying.

I think you have a point there are so many up and coming ICO now that are deceiving people that they have this and very much compliant when in fact they are not, even if they are not yet scamming us, they already have done so by their misleading information.

Adabsolutions First Israeli-Islamic exchange

In spite of Israel controls financial  world , but it couldnt take all Muslims money
But with new evil idea , it should do , the idea it creates Islamic crypto exchange  , then easy to controls and takes all Muslim money

Its evil idea , Israel by Islamic vesion  
Adab solutions , its Israeli exchange with Islamic vesion , it has Israeli man called Mohd Moffaser
Check here to find him

blockchainisrael.io

As Muslims ,take care of your money

Its the smartest Israeli  trick to take and control Muslims money
They used Muslims persons to mange that exchange , while they control it behind the scene

Thank you for the post.

I have not exposed them on the basis of theft. I have exposed Adab exchange on the basis of misinformation and outright lies because this is not a Shariah compliant exchange. On the basis of that alone I need nothing more credible to accuse them, they have exposed themselves because there is a contradiction in their own project title.

Thanks for sharing this information, I have seen that platform before, but I was lazy to investigate it.
As a Muslim, using or changing an Islamic name is optional, and it is not necessary if there is an inconvenience to choose that name.[1]
As for the acceptance of Islamic law in cryptos transactions, it disputed by senior Muslim scholars. Until now, most scholars consider dealing with cryptocurrencies prohibited in Islamic. Therefore, the establishment of these platforms is contrary to Islam.


[1] Almir Colan is one of the most famous people in the Islamic economy, and his name was not Islamic.