An important condition for the functioning of the Islamic Financial Institute is its compliance with the principles of Islamic finance. ADAB Solutions will create a Sharia Advisory Board( Council for the Observance of the Principles of Islamic Finance).
The Sharia Advisory Board is a department consisting of experts in the field of investment technology, and Islamic finance, which, in accordance with the Regulation on the Islamic Finance Council, ensures ADAB Solutions compliance with the norms of Islam in the implementation of FICE activities, listing of publicly offered crypto assets, and the development and approval of the standards and regulations governing the activities of the exchange.
At the same time, the Islamic Finance Council is an independent body that monitors the principles of Islamic finance.
The Sharia Advisory Board will make important decisions on admission to trading of a particular crypto currency.
In addition to the standardized procedures for verifying compliance with Sharia law, the Council makes a final decision, the observance of which is mandatory for execution by the company`s management and all its structures.
Members of the Council are authoritative experts in the field of Islamic law and Islamic finance, experts in the field of Islamic banking and the cryptocurrency market. The minimum composition of the council is at least 3 permanent members and at least 2 advisors.
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