ADAB Solutions To Create First Islamic Crypto Exchange

News | August 22, 2018 By:

UAE-based startup ADAB Solutions is going to create a Shariah compliant cryptocurrency trading platform.

The project, called the First Islamic Crypto Exchange (FICE), aims to provide a crypto trading platform that comply with norms of the Shariah. The platform will allow crypto transactions to be performed in accordance with the principles of Islamic finance and will be open to all users, regardless of religion.

In strict adherence to the high moral requirements by the Shariah community, Adab will create an in-house Shariah Advisory Board (SAB) in order to “ensure that Islam is finally included in the global cryptocurrency market.” SAB will be an independent body represented by internationally recognized Shariah experts. These Shariah experts will give input on Shariah matters for the exchange platform to comply with Shariah principles at all times.

“Ideas that correspond to the norms of the Shariah are based on the understandable material value, have a clear business strategy, and this allows us to confidently assert that halal projects are incomparably safer more successful than the beautiful signs of many cryptocurrency initiatives,” said Timur Turzhan, Founder and CEO of ADAB Solutions.

To fund the development of the platform, ADAB will launch an Initial Coin Offering (ICO) in September. Adab tokens issued during the ICO will be used to serve as a key to accessing the services of the exchange and all commissions within the FICE will be paid only in Adab tokens.

“By investing in FICE, you will not only support the needed and well-timed project for the Islamic Ummah of the whole world, but also make a valuable acquisition that can bring a decent profit,” Turzhan said. “Our team is dedicated to its business and will do its best to achieve all the goals set.”