Topic: SCAM ALERT!! ADAB EXCHANGE - So Called Islamic Crypto Exchange is Haraam - page 7. (Read 20825 times)

This is a very delicate issue I am not a Muslim but I have high regards to all our Muslim brothers as long as the security and trustworthy of the exchange are high I would have passed the issue, I would like my Muslim brothers to tackle this issue and just watch how things are going to be.

They are in it to get rich, they do not care about Islam or Shariah otherwise they would have made these things clear in their whitepaper, their website, this thread and their own thread.

Hmmmm it seem the truth has been exposed, Actually, I also think so, Muslims must care about where he earns money, Adab exchange team did not mention this matter

To answer your question I can safely say I am no expert on Shariah either but have learned enough to prove the Adab Exchange are scammers.

"Profiteering" itself falls under the ruling of business which is to buy/sell tangible items and products to make profit so it is definitely permissible, however charging your customers any form of interest or usury is completely and strictly forbidden. The idea of long or short term trading (buying/selling) on stocks is not universally accepted as permissible. Some scholars have said it is allowed and some have said it is forbidden.

When it comes to declaring something such as this Adab Exchange as being Halal or Shariah compliant when it cannot be is just not on.

The funds to sell ICO tokens might be or could be coming from illegal and immoral earnings such as

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

If the Adab exchange scammers are willing to accept investment from 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 and those that own, transport or sells alcohol as well as those that promote, participate or propagate to suppress Muslims then the exchange cannot be called "Shariah" exchange.

Simple, this project is a scam.

I'm not an expert on Shariah, but isn't profiteering itself a notion looked down upon?

 

 

Nice to hear from you again qwk. I know you wrote you remain skeptical.

All these fools had to do was to remove the word "Shariah" from their promotions and that would leave them offering ICO for a crypto exchange, simple. Instead they play on the word "Shariah" trying to get Muslims to invest citing it is an Islamic project.

The fact they are not vetting the source of investors funds (a near impossible task) means they cannot call it "Shariah" exchange.

Where there is a problem is when the funds received from the ICO are from criminal or immoral proceeds regardless of which religion the investor is, or the lack of investigating where source of the funds was from.

If the Adab exchange scammers are willing to accept investment from 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 and those that own, transport or sells alcohol as well as those that promote, participate or propagate to suppress Muslims then the exchange cannot be called "Shariah" exchange.

So this project should continue, I could not care about them but still I would wish them success but the scammers should remove the word "Shariah" exchange from their title as it is misleading.

On a moral level, their using the word "Shariah" to fool Muslim investors in to participating in the ICO makes them petty criminals and thieves. until or unless they remove the word "Shariah" from their nonsense promotions I will remain skeptical too. Both of us remain skeptical but for different reasons.

Honestly, I read this thread and I can not understand this: "Islamic Crypto Exchange, based on the Shariah norms"

But until now they have not stolen anyone's money, they have a team that seems to be true, so you will need to find something that is more credible to accuse them.


I also agree, because it would not get anywhere

Well, maybe, I'm not an expert.
Last I heard, being a muslim is something you can also do "in private" without any requirements.
Then again, let's not turn this into a discussion about how to be a "real" muslim
So, I retract my statement of it being "just plain racist", even though I remain skeptical.

Thank you for your feedback regarding what I wrote about Mr Rodriguez and Mr Chakraverti.

Islam is not a race, so for one person to say another is not Muslim based on their name alone cannot be racist. People of all skin colours and racial heritage backgrounds are Muslims and can be Muslims just as they can be Christian, Jew, Buddhist and whatever else..... and one of the key aspects of Muslims is having at least one Islamic name. Hence what I wrote.

About the exchange called Adab, they are scammers because they are saying their exchange will be Shariah compliant but it is the opposite because they are not vetting investors and checking if their funds are from proceeds of crime and any form of illegal criminal activity.

Now that's just plain racist.

I have no idea what their respective religious affiliation may or may not be, but judging from their names?

Would you invest in an ICO for a Vegan cake baking company called "Vegan Cakes For All"? Sure why not if it is a good investment?

But if that "Vegan Cakes For All" company was using using cows milk in all of its Sponge Cake products and using pork fat in all of its Carrot Cake products then how can that company called itself "Vegan Cakes For All"? If they want to trade then remove the word "Vegan" and call yourself "Cakes For All" because they are lying and misleading and scamming therefore are thieves.

The moment they drop the word "Vegan" they seize being lying, misleading, scammers and thieves and become a legitimate business.

If the Adab Team cannot check the "purity of the source of the money" that investors send, or if the Adab Team cannot check the "moral standing of each investor" then they can continue to create their exchange but they should remove the word "Shariah".

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ADAB - They call themselves (FICE) First Islamic Crypto Exchange but beware because this is not based on the "Shariah" or Islam.

This is a scam project because they are selling their project and the ICO on the foundations of calling it Shariah compliant when this whole project cannot be Halal or Shariah compliant.

This is not Muslim, Halal or Shariah compliant project. This is a project run by a team, some of who claim to be Muslim and some are not. The "team" are saying this is a Shariah compliant exchange without explaining which interpretation of Islam they follow.

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?


Board of Advisors: (https://adabsolutions.com/docs/wp/en_wp.pdf)

Sulaiman Al-Fahim - Advisor on Investment and Strategic Development
--If he is Muslim which sect of Islam does he follow?
--Does he have any qualification is Islamic Studies specialising in Finance?

Ali al-Khamis - Business Development Advisor
--If he is Muslim which sect of Islam does he follow?
--Does he have any qualification is Islamic Studies specialising in Finance?

Md-Mofassair-Hossain - Advisor Marketing and PR
--If he is Muslim which sect of Islam does he follow?
--Does he have any qualification is Islamic Studies specialising in Finance?
--If he is Muslim why is shortening his first name Mohammed/Muhammad to Md when the significance of that name for all Muslims is proudly know.

Gaurav Areng Chakraverti - Marketing ICO Advisor
--This man is NOT Muslim as his name clearly suggests it... According to Shariah this man is a non-believer so should he be onboard a Shariah compliant project?


Jorges Rodriguez - Security Advisor
--This man is NOT Muslim as his name suggests...
--Adab Exchange Whitepaper: "Ethical hacker since childhood, security expert, blockchain developer and project manager. Jorge Rodriguez is passionate about technology which is considered one of the greatest security experts in the world of CryptoCurrencies."
--This man is NOT Muslim as his name clearly suggests it... According to Shariah this man is a non-believer so should he be onboard a Shariah compliant project?

Which clever individual decided to have an "ethical hacker" on board for a Shariah compliant or any ICO project.... pathetic.

There are other people from the ICO whitepaper that give rise to concern too but I am waiting for replies to this and my previous posts first...

@whitetoo - You are the OP of their promotion thread so we wait for you to reply. Please explain why you think this project is Shariah compliant because after reading through the thread and reading your whitepaper, this project is not in accordance with Shariah. Thank you.

Adab (Arabic: أدب‎) in the context of behavior, refers to prescribed Islamic etiquette: "refinement, good manners, morals, decorum, decency, humaneness" so hurry up Adab Team and @whitetoo live up to your projects name and start replying to the posts asking you questions instead of using newbie accounts to make one line posts to drown out critical posts on your announcement thread: https://en.wikipedia.org/wiki/Adab_(Islam)

The Adab Exchange have a core of handful users with multiple aliases most of which have signed up here just for propaganda to show how good Adab exchange is.... they keep making one line posts that are erratic and make no sense and this seems to happen predominantly when posts critical of their Haraam process and lies are posted. It seems they are trying to drown out posts critical of their scam.

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