Yes, this is the first such product, but I think that is not the last. similar projects will appear after they see it being popular
Yes, from this point of view Adab has advantage, they have like a year to prove their assumption regarding demand of islamic crypto exchange
I think that the Adab team will manage to organize the demand from Islamic traders for their platform. Also, traders in other countries of the world, if they are allowed to do so, will also wish to start trading on a new platform.
Point is that Adab team opens new market for Islamic countries and it will cause money flow to crypto community. nobody did that before and islamic countries were closed for this market.