Introduction:

HADA DBank is formed with an aim of providing the Sharia banking services digitally by fusing the newly arrived Blockchain technology with the Islamic banking principles. The white paper mentions “ We aim to be your financial partners, rather than just a financial institution that you use for transactions “ This fusion of the principles can bring benefits to the customers in the form of transparency between the bank and the customers.

HADA DBank has analysed the pitfalls in the economy through the banking systems and figured out that the debts and interests are the main factors contributing to the economy collapse. So HADA DBank has decided to follow the ethical and responsible banking system globally.

The Islamic banking is not just for the Muslims but for everyone in the world. The Islamic people do not believe in the concept of debts and interests. This enables the transparency among the bank and the customers. The concept of profit and loss sharing in the Islamic banking will reduce the market manipulation and eliminates the possibility of another domino crash.

Potential Markets

Apart from the Muslim population of 1.7 Billion and billions of others who prefer to subscribe to Islamic Banking services, DBANK’s HADA will also focus on a population of 644.1 million people in Southeast Asia (ASEAN).

Key Features

Free Encrypted Account & e-Wallet
a. Smartphone — Banking App
b. Non-smart Mobile phone — SMS / USSD Code

Saving & Withdrawal
a. Minimum 5% Savings Return per annum
b. No withdrawal fee

Transfer, Remittance & Exchange
a. Free Transfer / Remittance of funds (FIAT & Cryptocurrency) between personal savings accounts and e-wallets

b. 0% fee on exchange transactions via HADA Exchange (between cryptocurrencies). No charges on major FIAT currencies during FIAT <> Crypto exchanges

c. Connect with partners or open APIs for better rate for other currencies

Loan & Investment
a. 0% Loan Interest
b. 10% minimum investment return

Real-Time Payment
Real-Time Payment using HADACoin and other Cryptocurrencies Tokens through our Debit Card.

HADA Coin

Buyers will be able to use HADACoin to conduct banking transactions or daily activities. Our customers will be issued with a Debit Card, which enables them to transact with our HADACoin, within the banking platinum or other merchants around the world.

The transactions are registered and stored in the blocks. The main database is executed in the blockchain network. Each block is cryptographically linked to the previous block. This ensures the security and also the privacy. Each component block is handled by a separate set of functions.

The customers can also perform the cash withdrawals from the ATMs by partnering with the banks globally. There is no service or the withdrawal fee for the customers and hence the customers can enjoy the free transactions.

HADA Team

Mohd Al-Shazanous is the founder/CEO of HADA DBank. Juan Mahussin(CTO) and Linda Azmi (CMO)are listed as Co-founders

HADACoin Distribution

A total of 500 million HADACoins will be issued. 295 million coins will be offered for sale. Of the 295 million coins, 20 million will be allocated to private investors and insttutonal buyers. 50 Million coins 275 Million will be released during the PRA-ICO exercise and the remaining 225 million coins will be released in our ICO practice in the near future. 10 million coins will be allocated to the gift campaign.

Pre-ICO Funding Target

Soft Cap = 5,000 ETH

Hard Cap = 20,000 ETH

HADACoin ALLOCATION

35%: Capital raised by PRA-ICO will be allocated for research and development.

30%: For Operational Expenses.

20%: For Capital Shopping.

30%: For DBANK HADA Reserves.

My thoughts :

I think HADA DBANK looks to be a solid investment. More than 50% of HADA reserved for institutional buyers is already sold at the point of writing this article. Islamic banking has great potential and I am going to invest some ETH into this for short/long term gains.