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Kuala Lumpur-based Hada DBank is the industries first Islamic bank and it is looking to pave the way for Islamic banking principles and overtake current financial systems.The company is founded on the Islamic values of fair and transparent risk, and responsible loans, implemented through blockchain technology.
What is an Islamic Bank?
Islamic banking is different from traditional banking in two very distinct ways. Firstly, Islamic banking is different in regards to profit and loss and also differs in regards to the laws facing the interest of both lenders and investors. The company has chosen to disregard the industry stand, unsustainable, interest-bearing models. This choice affords them less risk and results in a stronger operation overall. Depositors in Islamic banks are also allowed to be fully informed about how banks manage their deposits. Depositors are also democratically entitled to have a say in where their money is invested.
Due to Islamic Financial Laws prohibiting risky ventures, Hada DBank will be limited to no more than a maximum Liability to Asset ratio of 1:3. All total value will always be backed by valuable assets such as precious metals, and are fully insured according to Islamic banking principles. All users will have access to a full-feature personal banking service including:
- Free encrypted account and e-Wallet, accessible via smartphones and non-smart mobiles.
- Savings accounts at a probable 5% Hibah (discretionary gift usually based on business performance) per annum, with no withdrawal fee.
- Zero-fee transfer or remittance of funds (both fiat and cryptocurrency) between savings and e-Wallet
- HADA Exchange, featuring zero-fee on cryptocurrency exchanges, or on major crypto-fiat currency exchanges.
- 0% loan interest with a probable 10% investment return (based on fixed-rate Islamic investment product according to Murabahah (Cost-Plus Sale) and Tawarruq (Commodity Cost-Plus Sale) Islamic financial concepts).
- Physical and virtual debit cards with cashback and discount programs with affiliate partners and merchants.
Users will also have access to Bot HUDA, a financial management bot that helps them manage their spending, income and financial goals. Users can also take advantage of sophisticated artificial intelligence (AI) in the form of a personal financial advisor (HADI) that can help make informed investment decisions based on objective advice and assessment.
Caring and Personal
HADA DBank understands that its clients are crucial to its success and wish to put more emphasis on what is expected of them and what the client wants from a modern digital bank. They aim to personalize services and promote diversity at the same time, as they want the public to know that their bank is not targeting just the Muslim demographic..
Media partnership with Bitcoin PR Buzz
Hada DBank has announced a partnership with popular blockchain PR outlet Bitcoin PR Buzz as its strategic media partner. Bitcoin PR Buzz is known as the world’s first cryptocurrency and blockchain PR agency and has a good reputation with news platforms such as CryptoCoinsNews, The Merkle, Coinspeaker, CoinIdol and many other international Bitcoin news sites.
Hada DBank development and HADACoin
In order to raise the capital necessary for the full development of products and services of Hada DBank is currently hosting a crowdfunding campaign. The HADACoin will be the native digital asset to enable users to conduct basic and daily banking transactions. The digital token will be exchangeable with both fiat and cryptocurrencies, through the DBank platform and a debit card.The HADACoin is building on the Ethereum platform and offers the transparency of a public blockchain and the security of smart contracts.
The HADACoin will be sold during the pre-sale at increasingly higher rates adjusting to supply, starting at a rate of 1 ETH = 2,000 HADACoins for the first 10 million tokens, gradually reducing every 10 million tokens. The token sale is now live, with 1ETH granting participants 4000 tokens, for the 1st 1 million Coins. Following the partnership with BPRB and a future listing on F1Crypto exchange, Hada DBank has decided to extend its pre-sale to February 28th, 2018.
Visit the Hada DBank Website: https://www.hada-dbank.com/
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The post Blockchain-Based Hada DBank Release Details of their Fair, Transparent Islamic Banking Platform appeared first on Crypto Currency Online.
from Crypto Currency Online https://cryptocurrencyonline.co/blockchain-based-hada-dbank-release-details-of-their-fair-transparent-islamic-banking-platform/