The ADAB Solutions project aims to create a cryptocurrency platform and build world's FICE (First Islamic Crypto Exchange) complying with Shariah norms and operating on Islamic principles. The project will create Shariah Advisory Board composed of renowned experts in the field of Islamic finance.
The company ("ADAB Solutions") will be registered in UAE, while the FICE (First Islamic Crypto Exchange Switzerland), to be established by the company will be registered in Switzerland.
WHAT IS ISLAMIC BANKING
The Islamic Finance sector is projected to grow at 12% annually with forecasted growth to $ 3.8 trillion by 2022 from $ 2 trillion in 2014. It's target is 1.8 billion Muslims (i.e. around 22% of global) population with a projected growth of around 270% annually in Shariah compliant crypto-investments.
The concept of Islamic Finance / Banking is based on 3 fundamental principles: -
A. Profit Sharing should be considered as an alternative to interest
B. Commitment to Islamic Principles along with socially accountable investments benefiting the whole community
C. Complimenting real value to trading operations
Some of the types of Islamic banking / finance includes "Mudarabah" (i.e. profit-sharing and loss-bearing), "Murâbaḥah" (markup (profit) or cost-plus), "Musharakah" (joint enterprise or venture), "Al Wadiah" (safekeeping), and "Ijara" (leasing).
ENSURING COMPLIANCE WITH ISLAMIC FINANCE
The ADAB Solutions project will ensure compliance with Islamic Finance by meeting the following criteria while constituting the Islamic Finance Council Team ("Shariah Advisory Board"): -
Only Muslims will be part of the Council team; non-Muslims will not be part of the Council, even if they possess necessary knowledge in the areas of Shariah and Islamic Finance.
A candidate applying for the Shariah Council will require relevant economic and/or legal education.
The members of the Shariah Council must be proficient in Arabic Language to interpret the provisions on Islamic Finance contained in the Quran, the Sunnah and writings of Islamic scholars.
ADAB Solutions' management will pay great significance to experience in Islamic Finance possessed by candidates applying for the Shariah Council.
The Council members must have impeccable business reputation.
The Shariah Advisory Board will not approve any projects connected with the following activities: -
Gambling
Immoral Services
Usury
Dealing with tobacco and alcoholic products and services
Financial pyramids
ICO REVIEWS
The ADAB Solutions project has received "extraordinary" ratings from reputed ICO tracking websites.
https://www.trackico.io/ico/adab-solutions/ [Rating 5.0/5]
https://findico.io/ico/adab-solutions [Rating 5.0/5]
https://foundico.com/ico/adab-solutions.html [Rating 9.8/10] [ICO Verified]
https://icomarks.com/ico/adab-solutions [Rating 9.0/10] [ICO Verified]
ICO DETAILS
The ADAB Tokens will be the utility token used on the ADAB ecosystem for for payment of all ADAB Solutions services'. The ADAB platform will be hosted on the Ethereum Blockchain Network and the ADAB tokens will be ERC-20 compliant tokens.
- Symbol - ADAB
- No. of Tokens Available for Sale - 480 million ADAB
- Soft Cap - $ 2.5 million
- Hard Cap - $ 18.7 million [Pre-Sale phase - $ 5.61 million, ICO phase - $ 13.09 million]
- Payment Method - BTC, ETH
- Token Standard - ERC-20
- Token Launch Price - 1 ADAB = $ 0.1
- KYC Required - Yes
- Minimum Purchase - 1,000 ADAB
Note: - The total number of ADAB tokens is fixed, while the coins will be burned until their total volume is 50% of the initial emission, thereby avoiding inflationary pressure.
Public Pre-Sale Phase
Start Date - 18th Oct '18 ||| End Date - 8th Nov '18
Bonus - upto 85%
ICO (Crowd) Sale Phase
Start Date - 18th Nov '18 ||| End Date - 12th Dec '18
Bonus - 25-40%
Due to its unique business model, the valuation of an ADAB token is projected to hit around $ 10/token in the next 4-5 years.
The Shariah compliant crypto assets' market is projected to grow to more than $ 15 billion in the next 4-5 years.
SOCIAL NETWORKING DATA [Users / Subscribers as of 19th Oct '18]
- Telegram - 22,600
- Twitter - 4,100
ADAB SOLUTIONS TEAM
The ADAB Solutions project is conceptualized by a core team of experts possessing wide range of professional experience in the fields of Islamic Banking and Finance (Shariah compliance), cryptotrading and blockchain technology, finance and brokerage, sales and business development, marketing, IT (including information technology management and software development) etc.
The 'ADAB Solutions' project is primarily led by Timur Turzhan (CEO, Co-Founder) and Rustam Turzhan (COO, Co-Founder). The co-founders of the 'ADAB Solutions' project possess immense corporate experience in the fields of Islamic Finance, cryptography and blockchain technology, financial services, and banking operations.
The ADAB Solutions team posses more than 16 years of professional experience in the Islamic Finance industry with overall 18 years experience in the financial services industry.
The team also includes Sulaiman Al Fahim (CEO of Hydra Properties, Abu Dhabi) as a member of the Board of Advisors. Al Fahim was the President of Arab Union for Real Estate for 2 terms (i.e. from 2009 to 2013 and from 2013 to 2017).
For more information on the ADAB Solutions team, please refer the following link: -
https://adabsolutions.com/#team
CONCLUSION
Thus, the ADAB Solutions project is one of the most promising projects conceptualized to develop the world's 1st "Islamic Crypto Exchange", based on Shariah norms. The ADAB Solutions project aims to create a cryptocurrency platform, build-in exchange complying with Shariah norms and operating on Islamic principles.
For more information on the ADAB project, please refer the following links: -
*Website: https://adabsolutions.com/
*White paper: https://adabsolutions.com/docs/wp/en_wp.pdf
*One pager: https://adabsolutions.com/docs/op/en_op.pdf
*Twitter: https://twitter.com/AdabSolutions
*Facebook: https://www.facebook.com/adabsolutionsae/
*Telegram: https://t.me/adabannouncement
*Medium: https://medium.com/@adabsolutions
*Bitcointalk ANN Thread: https://bitcointalk.org/index.php?topic=4720775
*Subscribe at YouTube: https://www.youtube.com/channel/UC7nrJoeQUbC5cxmI1j5Hu8A
Published by 'Sameer S'
BTalk Profile URL: - https://bitcointalk.org/index.php?action=profile;u=1978491
Telegram ID: - @Sameer_GR
Disclaimer: - Kindly conduct your due diligence before making your decision on this project from the investment and legal perspective.