ICOBench currently lists ADAB Solutions as a “suspicious ICO”:
We’ve moved this post to the Dead Coins section.
The ADAB Solutions project is developing the FICE – First Islamic Crypto Exchange, based on the Shariah norms.
The purpose of the ADAB Solutions project is the creation of a cryptocurrency platform, exchange and services that comply with the norms of the Sharia and operate on the principles of Islam.
ADAB Solutions will create services based on the high moral and cultural values of Islam and will provide access to all users of crypto-economics.
The principles and values of the project coincide with the principles on which Islamic finance is based and are based on the norms of the Sharia. The Islamic economic model today is one of the most dynamic areas of the modern economy, which is actively moving beyond the Muslim countries.
ADAB Solutions project will be registered under the UAE (Umm al-Quwain) jurisdiction. This choice is made as a result of an analysis of the key advantages of jurisdiction. ADAB Solutions will receive additional jurisdiction for the FICE project. Priority will be given to the Swiss Confederation (Canton Zug). In case of unforeseen circumstances the Republic of Malta and the Republic of Estonia are also considered as possible jurisdictions.
Obtaining jurisdiction is planned through the registration of FICE (First Islamic Crypto Exchange Switzerland), established by ADAB Solutions in Switzerland. This is necessary to make it possible to exchange cryptocurrency for fiat money, as well to reduce regulatory risks. ADAB Solutions integrates the Islamic management model into the business management and business risk management system as an integral part of the company’s management system, and ADAB Solutions will create the Shariah Advisory Board (Islamic Finance compliance Council). Islamic cryptocurrency platform ADAB Solutions implements the possibility of purchasing ADAB tokens by users during ICO.
Today’s Islamic economic model is one of the most dynamic of the modern economy, and is actively moving beyond Muslim countries. Today, Islamic finance is recognized by intergovernmental and international organizations as a form of financial intermediation, that has great potential to strengthen the links between financial institutions and the real economy.
Understanding of the essence and purpose of Islamic finance has significantly increased, and was included in the agenda of the meetings of the leaders of the G20 and OECD countries. The possibility for Islamic finance to expand the inclusiveness of financial services, and achieve progress in general welfare are fully in line with the United Nations Global Sustainable Development Goals (SDGs).
The World Bank (WB) considers Islamic finance an effective tool for financing world development, including non-Muslim countries, which will solve poverty issues and promote global prosperity. The growth of the Islamic Finance sector stands at 12%, whilst the world market of Islamic Finance assets has exceeded
According to the ISLAMIC FINANCE DEVELOPMENT 2017 report, it is expected that on average the growth rate of Islamic finance sector will be 9.5% per year, which significantly exceeds the growth rates of conventional financial institutions in the key regions of the world.
ADAB Solutions’ placement on the key ICO-listing will allow an independent expert evaluation of the project and access to informed investors. The project will be posted on the leading ICO-listing-portals. It is planned that as a result of work in the field of ICO-Listing about 15% of the issue of tokens will be implemented.
Official Website [adabsolutions.com Inactive as of Oct/2020]