ADAB Solutions – is developing the FICE – First Islamic Crypto Exchange, based on the norms of Shariah. The projected volume of daily trading on the First Islamic Crypto Exchange is $ 140 million and a monthly turnover of $ 4.2 billion during the first one and a half years of operation of the exchange. As a result, the implementation of the ADAB Solutions project will create a global infrastructure, that operates on the principles of Islamic finance, and the community that regulates the development of Islamic crypto-economics. ADAB Solutions will solve the problem of halal cryptocurrency transactions, providing access to the cryptocurrency market for the Muslim Ummah , which accounts for 22% of the world’s population and manages Islamic financial assets with a projected volume of 3.8 trillion USD.
Halal or not halal
The speculative nature of cryptocurrencies has triggered debate among Islamic scholars over whether cryptocurrencies are religiously permissible. Cryptocurrency companies are seeking to sway the debate by launching instruments based on physical assets and certified as valid by Islamic advisors.
Each OneGram cryptocurrency unit is backed by at least a gram of physical gold stored in a vault. The idea is to limit speculation.
“Gold was among the first forms of money in Islamic societies, so this is appropriate,” said Ibrahim Mohammed, the Briton who founded the firm with other investors last year.
“We are trying to prove rules and regulations from sharia are fully compatible with digital blockchain technology.”
Tens of millions of dollars worth of the currency has been issued so far. About 60 percent of the planned number of coins remains to be sold; OneGram hopes to issue them all before listing them on exchanges around the end of May.
OneGram obtained a ruling that its cryptocurrency conforms with Islamic principles from Dubai-based Al Maali Consulting.
It is one of dozens of advisory firms around the world that offer their opinion on whether financial instruments meet Islamic law standards.
In Malaysia, HelloGold launched an initial offer of its gold-backed cryptocurrency in October, receiving approval from Islamic scholars at Kuala Lumpur-based Amanie Advisors.
Manuel Ho, HelloGold’s chief marketing officer, said its coin was Islamic as transactions occurred within a defined period, making them less volatile and addressing the issue of ambiguity of pricing.
Among other experiments, United Arab Emirates-based Halal Chain conducted an initial coin offer in December which is linked to data on Islamically permissible goods.
In order to ADAB Solutions as a crypto currency project to be Halal, it is planned to implement the following measures: The development of the project will be based on the entrepreneurial efforts of the organizers and their work. According to the norms of Islamic ethics, it is right that the source of wealth is own labor inputs and the entrepreneurial efforts.
First Islamic Crypto Exchange will completely exclude the possibility of speculative transactions, margin trading and operations that do not correspond to Shariah. This will exclude the Gharar and Maisir and Riba from the work of the Exchange.
FICE platform able to handle 3 million requests per second, making FICE the one of the fastest crypto exchanges. Users of FICE will be guaranteed that their applications will never be suspended due to congestion of the platform.
ADAB Solutions will pass Islamic experts assessment on compliance with the norms of Shariah. ADAB Solutions organizes the Shariah Advisory Board at First Islamic Crypto Exchange. ADAB Solutions is founded to create a platform for halal projects, to work in a full compliance with the norms of Islam and Islamic finance. Our task is to help Muslims and the community of crypto-investors to understand what in the market the cryptocurrencies is compliant with the Shariah rules and what does not. ADAB Solutions proceeds from the fact that this project will generally benefit the market, since halal projects in their essence have utility and value, and their definition will contribute to the development of useful ideas and a decrease in the number of projects in the market, which are haram in its essence.
We solve the problems of the Muslim community, such as:
ADAB Solutions will solve the problem of halal cryptocurrency operations
ADAB Solutions will solve the problem of excessive risks of cryptocurrency systems
ADAB Solutions will solve the problem of developing Islamic cryptocurrency infrastructure
Absence of a crypto exchange, functioning in accordance with the norms of Shariah
The lack of a unified position of the Muslim community regarding the cryptocurrency
Uncertainty of Muslims regarding the admissibility of working with cryptocurrencies
From the turnover of existing crypto exchanges, zakat is not paid.
The problem of the cryptocurrency market:
The extremely low involvement of Muslims in the cryptocurrency market
Lack of community trust in the key tools of crypto economics
Lack of a new markets and investors
The importance of the Adab Solutions project for participants and its uniqueness: The Adab Solutions project has no analogues in the world. Today, there is not a single cryptocurrency platform or a crypto exchange, which would guarantee activities based on Shariah. Adab Solutions will be the first project that will allow performing cryptocurrency transactions in accordance with the principles of Islamic finance and on the basis of Shariah norms.
The Adab Solutions project is aimed to a huge audience of 1.8 billion potential Muslim users of the cryptocurrency market. Projectibility of the project. The Adab Solutions project is designed in accordance with the highest security standards and has unique technical features of key software solutions. The Adab Solutions project forms a system of values based on Shariah norms and principles of Islamic finance, which will become the basis for self-regulation of the cryptocurrency market and will increase the level of confidence in a key cryptocurrency instruments.
Full transparency of the Adab Solutions project. Transparency of the project and safe jurisdictions will make it possible to buy and sell cryptocurrencies for fiat money. Objectives and mission of the project
The ADAB Solutions project is developing the FICE- First Islamic Crypto Exchange , based on the norms of Shariah. The purpose of the ADAB Solutions project is the creation of a crypto -exchange platform, a stock exchange and services that comply with the norms of the Shariah and operate on the principles of Islam.
The mission of the ADAB Solutions project is to create conditions and services based on the high moral and cultural values of Islam and provide access to all users of crypto economics.
The key task of ADAB Solutions is to create a structure that will establish new ethical standards for doing business in the industry. ADAB – standards of behavior prescribed by the norms of the Shariah, including good manners, standards of decency, courtesy, humanity. The name of ADAB Solutions is a big responsibility for the creators of the project.
ADAB is a way of life in Islam, which the founders of the project consider not only natural in everyday life, but an obligatory foundation of business relations.
Name of the token ADAB
Total number of tokens – 500.000.000
The price of the token is 0.1 USD
Method of payment – BTC, ETH
Soft Cap – 2.500.000 $
Hard Cap -17.290.000 $
Start – 25.07.2018 year
The end is on 15.11.2018
Minimum volume of sales – 1000 ADAB
Beginning of the study of the cryptocurrency market in the Islamic community.
Terms: June 2017- September 2017.
Formation of goals and objectives to solve the problem of access of Muslim population
to the cryptocurrency market.
Terms: September 2017 – November 2017.
The development of the philosophy and mechanics of the exchange, based on the principles of
the Islamic financial model.
Terms: December 2017 – May 2018.
ICO to finance and promote the Islamic cryptocurrency exchange.
Terms: September 2018 – November 2018.
Development of the program mechanism of the First Islamic Crypto Exchange.
Terms: July 2018 – September 2018.
Registration of the First Islamic Crypto Exchange. Start of work on AdabCrypto (News Portal & Forum) and Adab Charity.
Terms: October 2018 – December 2018.
Alfa release of the First Islamic Crypto Exchange, functionality and security check.
Terms: December 2018 – February 2019.
Launch a large-scale marketing campaign, in order to attract new users on a large scale.
Terms: December 2018 – December 2019.
Beta release of the Islamic Exchange First Islamic Crypto Exchange with the support of cross-platform trading clients.
Terms: April 2019.
Official launch of the First Islamic Crypto Exchange.
Terms: July 2019.
Expansion of the functional content of the First Islamic Crypto Exchange.
Terms: June 2019 – December 2019.
Run Adab Charity.
Terms: August 2019.
ormation, on the bases of ADAB Solutions platform and First Islamic Crypto Exchange, of a reliable and developed infrastructure based on the principles of Islamic finance.
Terms: December 2019 – July 2020
The project team
Timur Turzhan: CEO, Founder
Rustam Turzhan: COO, co-founder
Maxat Salpyn: Deputy CEO of Islamic Finance
Aleksander Mamasidikov: Director of Marketing
Dmitriy Rovenskikh: Director of project promotion
Asset Barakbayev: СТО
Pavel Krayev: Head of development Department
Didar Bidam: Senior IT advisor
Khalil Ben sassi: Graphic designer
Mamoun Jamaladdin: Community Manager (Arabic)
Abeer Mousa: Community development manager
Board of advisors
Md Mofassair Hossain: Advisor Marketing and PR
Gaurav Areng Chakraverti: Marketing ICO Advisor
Jorge Rodriguez: Security Advisor