Ninjastic
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Board Tokens (Altcoins)
Re: [ANN] ADAB - First Islamic Crypto Exchange, based on the Shariah norms
by
hesham51
on 17/08/2018, 19:38:32 UTC
Quote from: HAKHALI on August 17, 2018, 05:38:21 PM
Quote from: hesham51 on August 17, 2018, 02:13:22 PM
Quote from: vip555 on August 17, 2018, 08:42:47 AM
Hello. I would like to know what are the unique norms of sharia?
Islamic Finance refers to the provision of financial services in accordance with Sharia norms, principles and rules. Sharia does not permit receipt and payment of "riba" (interest), "gharar" (excessive uncertainty), "maysir" (gambling), short sales or financing activities that it considers harmful to society. Instead, the parties must share the risks and rewards of a business transaction and the transaction should have a real economic purpose without undue speculation, and not involve any exploitation of either party.

To know more about Sharia norms find below some links may help you internalize the Principles of Shariah norms:
 
https://en.wikipedia.org/wiki/Islamic_economics
http://www.islamicinsights.com/religion/an-introduction-to-islam-and-economics.html
http://www.imf.org/external/themes/islamicfinance/
https://blogs.imf.org/tag/islamic-finance/
https://blogs.imf.org/2017/02/21/islamic-banking-proposals-get-imf-approval/
  




really , i haven't understood how FICE would involve or practice  these norms of Shareaa (except by  prohibiting  some coins to be listed on it )..any moslem can do that on the other  crypto exchanges , i mean what the other procedures of FICE TO implement the Islamic finance method ??   
In many crypto exchanges people don't have a full control on coins listing, people always exposer to the exchange terms, to be committed to Sharia norms ,FICE will not support some of activities which are related to sex, alcoholic, financial pyramids, gambling and lending , at FICE there will be no speculative deals, margin trading.