Islam is a unique religion, particularly because the financial relations under the Shariah are clearly regulated and have a number of serious requirements and restrictions.
Islamic finance is alternatively called ethical finance and this is an absolutely fair name. According to Shariah law, a Muslim should not give money to grow (to earn interest), invest in prohibited activities (gambling, production of prohibited products), participate in transactions with excessive uncertainty.
Muslims adhere to these requirements; therefore they are wary of such unverified investment methods as cryptocurrencies. Many cryptocurrencies clearly have characteristics that are forbidden for Muslims. Therefore, in order to avoid violating Shariah requirements, Muslims stay away from investments in these assets.
In the world there are at least 50 million users of cryptocurrency and among them only a small part represented from the 1.8 billion Muslims population living on the planet.
Islamic finance is essentially a partnership between a client and a financial organization, which facilitates the honest, transparent and reliable business relationship based on the culture, ethics and principles of Islam.
At the heart of the blockchain technology is also the maintenance of honesty and transparency — very necessary feature for the modern world, but, unfortunately, the rapid development of the industry led to a paradox — the cryptocurrency market attracted a huge number of fraudsters and, instead of cleanliness and transparency, market participants got a deception and shadow market.
Of course, on the other hand, talented and decent people received incredible opportunities to translate their ideas, and their efforts inspire further development of the market. This development determined not only by regulation, accumulation of experience and the beginning of massive commercial use of the technologies being developed, but also by establishing high moral and ethical standards of doing business in this industry.
People should believe that cryptocurrencies are honest, reliable and safe.
And in this we see a great opportunity for the market to use simple and obvious principles of honesty of Islam.
Now there are no companies offering comprehensive solutions for Islamic crypto investments. We intend to solve this problem.
Our clients and investors using our services will be sure that their actions are fully consistent with the principles of Islam, which will be confirmed not only by the opinion of our Advisory council, but also by the opinion of other experts and the general opinion of the community.
Our idea is not just create a company; it is an attempt to establish new ethical standards of business management in the industry.
Adab — the behavior prescribed by the norms of Shariah, including good manners, standards of decency, courtesy and humanity.
“Monotheism calls to faith.” Faith calls for adherence to canons. The canons oblige a person to be brought up. The one who has no courtesy is far from the canons, faith and monotheism. “
“Courtesy is a strict adherence to that which embellishes deeds and activity.”
The name of our company ADAB Solutions is a big responsibility. Adab is a way of life in Islam, which we consider not only natural in everyday life, but an obligatory foundation of business relations.
We will create the world’s first crypto exchange, which complies with Shariah law. FICE will become a universal solution for the involvement of Muslims and users of Islamic finance in the cryptocurrency market. The exchange will be functioning in compliance with the principles of Islam, but it is absolutely open to all users, regardless of religion.
One of the most important features of our project is the management of the company in accordance with the Islamic management model, which supplements the generally accepted standards of business management.
But the most important difference lies in the fact that in our company one of the most important management bodies and decision-making centers is lured by the Council for Islamic Finance (Shariah Advisory Board).
All this will contribute to the fact that our company will provide high-quality services and information to the Muslim community about the cryptocurrency market, will carry out an explanatory mission, facilitate the involvement of the Muslim community in the cryptocurrency market.