ADAB Solutions has begun pre-sales for their First Islamic Crypto Exchange (FICE) tokens, due to officially launch next year. The project promises to “Solve the problem of aligning crypto assets with the high moral and cultural values of Islam by creating a global cryptocurrency platform for both Muslims and the world at large.”
ADAB, based in the the UAE, says they will make it possible to perform cryptocurrency transactions in accordance to the principles of Shariah Law. ADAB say they will solve the issue of ‘extremely low involvement of Muslims in the cryptocurrency market.’ Hopefully this will attract millions of people in the Islamic world to cryptocurrency and aid in the fight for mass adoption. They also recognise the questionable ethics displayed by many companies involved in cryptocurrency exchange and trading, adding that the ‘principles of Shariah can serve as a high benchmark and a guarantee of honesty and security.’
ADAB will be working with a Shariah Advisory Board, composed of top Islamic financial experts, who will be responsible for approving each coin on the exchange, confirming that the cryptocurrencies are suitable for Shariah abiding Muslims. Shariah Law forbids usury and gambling and The Shariah Advisory Board will not approve any projects that include these practices as well as financial pyramids and anything deemed immoral by Shariah standards.
Their tokens are currently up for pre-sale, costing just $0.1 dollars at the time this article was written. For more information on this project, visit the ADAB Solutions website.