Headquartered in the United Arab Emirates, the ADAB Solutions startup plans on launching FICE (First Islamic Crypto Exchange) in 2019. According to ADAB Solutions, FICE would operate “in accordance with the principles of Shariah law,” meaning that it would respect the Islamic law regarding financial operations.
Besides, ADAB Solutions predicts a brilliant future for FICE, the company even expecting $146 million in daily trading and $4.4 billion monthly turnovers by 2020.
Even though the First Islamic Crypto Exchange is not yet up and live, the FICE project attracted cryptocurrency enthusiasts and analysts. Even more, FICE has been deemed as number one in the “TOP 10 ICO Projects That Became the Most Useful Ideas of 2018,” published last month, in September, by Coin Shark.
ADAB Solutions stated that FICE represents an “opportunity for the crypto market to enter the Islamic world and it will be the world’s first cryptocurrency exchange that will operate in full compliance with the principles of Islamic finance.”
ADAB Solutions Would Launch The First Islamic Crypto Exchange (FICE) In 2019
FICE (First Islamic Crypto Exchange) would be headed by two particular departments – Department of Islamic Finance and Shariah Advisory Board.
The Shariah Advisory Board will gather the best Islamic financial analysts who will have the mission to study and verify if all the cryptocurrencies listed on FICE are “halal,” so the crypto exchange’s Muslim clients can use the trading platform’s services without violating the Shariah law. As reported by ADAB Solutions, First Islamic Crypto Exchange won’t promote speculations or market manipulation, that being the most significant difference between FICE and any other conventional cryptocurrency trading platform.
As reported by Pew Research Center, there are about 2 billion Muslims around the world, so, accordingly, ADAB Solutions expects a brilliant future for its First Islamic Crypto Exchange (FICE) project. “The idea of FICE is really relevant and needed,” ADAB Solutions stated.