The ADAB Solutions project is developing the FICE ( First Islamic Crypto Exchange), based on Syariah norms. The purpose of ADAB Solutions is the creation of Cryptocurrency platform, exchange and service that comply with the norms of the shariah norms. beside exchange and service that comply with the norms of the Sharia and operate on the principle of Islam, the purpose of the ADAB Solutions project is the creation of a cryptocurrency platform.
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. ADAB Solutions will create service based on the high moral and cultural values of Islam and will provide access to all users of crypto-economic. 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 wil be regristered under the UAE (Umm al-Quwain) jurisdiction. this choice is made as a result of an analyis of the key advantages of jurisdiction. ADAB Soultions wil receive additional jurisdiction for the FICE project. Priority will be hiven 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 in tegrates 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. (ICO will be held form 15.07.2018 to 15.11.2018).
initial cost of the ADAB token will be estimated at 0.1 USD. te only release of ADAB tokens will occur during the ICO and will essentially be a preliminary sale of acces to the ADAB Solutions services. 72% is the total share of taken distributed among the community during pre-ICO and TGE.
The future of the digital economy and Islamic Finance
overview of the developmet trend of Islamic finance, up to now Islmaic economic model is one of the most dynamic of the modern economy, and is actively moving beyond Muslim countries.
today, Islamic finacial intermediation, that has great potensial to strengthen the link 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 World Bank (WB) considers Islamic finance an effective tool for financing world development, including non-Muslim countries, which will solve poverty and promote global prosperity. the growth of the Islamic Finance sector stands at 12%, whilst the word market of Islamic finance assets has exceeded 2.000.000.000.000 USD. this is confirmed by the data from the "Toward Sustainability" report, which predicts the growth of the islamic finance sector to reach up to 3.78 trillion dollars by 2022.
The development of the industry will be driven by the increasing number of users of Islamic financila service, and greater funding. The Islamic finance industry is relatively well developed in the countries of Southeast asua and the Middle East and demonstrates high growth potential in the countries of Europe, Afica and Central Asia. According to the Financial Stability Report IFSB (2016), the regional structure of Islami finance is characterized by GCC dominance (39.9%); followed by agroup of countries in the Middle East and North Africa (MENA, excluding GCC), which hold 32.2% of total Islami financial assets. The largest contri bution to the group of MENA countries is made by Iran, whose financial system fully complies with the Islamic principles of financing. The third place by asset sizes are occupied by the countries of Asia, with ashare of 21.9%. The main contribution from this region is provided by the development of Islamic finance in Malaysia, Indonesia, Pakistan and Bangladesh (Table1.1.).
Comparison of the Islamic and Westren economies
Islamic Finance complies with shariah law. this causes the differences between the conventional and the Islamic principles of financing. According to general economic laws, Islamic Finance develop based on Shariah law. It should be understood that Islamic finance is not purelyy religious phenomenon. in some countires, Islam banking are also popular with the non-Muslim population.
Islamic Crypto economics
Islamic crypto-economic system can be characterized as a set of financial mechanisms that allow individuals to carry out investment activities wothout violating the basis principles of the Sharia. According to the ISLAMIC FINANCE DEVELOPMENT report 2017, the cryptocurrency economy is one of the key ares of innovation in te field of Islamic finance. this interest was expressed in the creation of cryptocurrency project in Islamic countries. in particular, crypto-exchange sites were estabilished in Indonesia, Malaysia and the UAE.
Adab Solutions Project
The ADAB Solutions project main goal is developing the FICE-First Islamic Crypto Exchange, based on Shariah norms.
•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 Sharia 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 it to all users of crypto economics.
•The key task of ADAB Solutions is tocreate a structure that will establish new ethical standards for doing business in the in dustry.
•ADAB - standards of behavior prescribed by the norms of the Shariah, including good manners, standards of decency, courtesy, humanity.
•Thename‘ ADAB Solutions’ represents a big responsibility for the creators of the project.
•ADAB is away of life in Islam, which the founders of the projectc on sider not only natural in every day life, but an obligatory foundation of business relations.
•ADAB Solutions is implementing the First Islamic Crypto Exchange (FICE) project.
•The Islamic Crypto Exchange is an alternative to in vesting in the crypto currency market, the main principles of which will be a ban on investments in gambling, usury, financial pyramids offering immoral services, as well as in companies engaged in the production of liquor and to bacco products.
•When there is suspicion of dishonesty in any company or its employees, or an indication of bearing excessive in vestment risk, investments in such companies will be deemed unacceptable, and they will not be admitted to listing on the exchange.
ICO ADAB Solutions
A well-developed economic model for maintaining value.
Halal coin available to millions of Muslims.
Token with a deflationary economic model. The number of tokens is constantly decreasing.
Freely exchanged for fiat money and other cryptocurrencies.
Means of payment of commissions on FICE and a key for the access to the services of the platform.
Distribution of ADAB tokens
•Reaching the ADAB token begins with the initial distribution of tokens during the ICO by the initial exchange rate of 0.1 USD. ADAB Solutions issues a maximum of 480,000,000 ADAB tokens at aninitial cost of 0.01USD per 1 ADAB token.
•Start cost of the ADAB token will be estimated at 0.1USD. The only release of ADAB tokens will occur during the ICO and will become apreliminary sale of access to the use of ADAB Solutions services.
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AUTHOR: Dratos
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