THE WORLD’S FIRST BLOCKCHAIN-ASSETS BACKED BY DIAMONDS
Established in 2018, Al Kasir Portal is the world’s first platform which provides Blockchain-Assets backed by equivalent value of certified Diamonds. The Diamonds are certified by the Gemological Institute of American (GIA). Al Kasir Portal is the first to offer three unique Blockchain-Assets simultaneously: Al Mas, Al Falah and Al Haqeek. Our Blockchain-Assets are Diamond-Backed, with each Blockchain-Asset pegged to the value of an authentic, natural diamond, as determined by the market pricing algorithms. Diamonds are an ideal asset backing for a Blockchain-Asset since they are rare, taking a billion years to develop, have several millennia of history as a recognized store of value, and are small and therefore easily stored and transported.
All our three Blockchain-Assets are Shariah-compliant and built upon the most promising Ethereum Blockchain which helps us to create a clear and transparent layer of trust for all our users. Owner of our Blockchain-Assets benefits from enhanced downside protection as their Blockchain-Assets can be exchanged for real products on completion of the Initial Blockchain-Asset Offering (IBAO). Al Mas can be used to purchase certified Diamonds. Al Falah can be used to purchase premium quality Oodh, Bakhoor and Attar. Al Haqeek can be used to purchase certified Precious Gemstones. Our Blockchain-Assets are perfect counter-cyclical assets offering investors in the blockchain universe protection against adverse market-movements similar to gold or bonds in conventional markets.
IBAO Phase Bonuses
The minimum value of each unit bonus assets will be calculated at the rate of bare minimum USD 10.
Al Mas is a unique Blockchain-Asset which is not only backed by certified Diamonds, but it is also Shariah-compliant. It is built on top of the Ethereum blockchain. Al Mas can be redeemed in the future by the holders for purchasing certified premium quality Diamonds.
Al Falah is a unique Blockchain-Asset which is backed by certified Diamonds. It is Shariah-compliant and built upon the most promising Ethereum Blockchain. Al Falah can be redeemed in the future by the holders for purchasing premium quality Oodh, Bakhoor and Attar.
Al Haqeek is a unique Blockchain-Asset which is backed by certified Diamonds. It is built on top of the Ethereum Blockchain. Al Haqeek is Shariah-compliant, and it can be redeemed in the future by the holders for purchasing various certified premium quality Precious Gemstones.
The Price of the Blockchain-Assets will start from USD 10.00 during the IBAO Phases till Allotment.
15th April 2018 to 14th May 2018
15th May 2018 to 14th June 2018
15th June 2018 to 14th July 2018
15th July 2018 to 4th August 2018
5th August 2018 to 15th August 2018
All the three Blockchain-Assets offered by Al Kasir Portal are Shariah-compliant. Investment which are in accordance with the Islamic Principles are called Shariah-compliant. There are three rules which must be adhered to when analysing an investment from the standpoint of Shariah permissibility.
The first is the absence of interest (Riba) in the investment. This is based on the principle that it is not acceptable in and of itself for same commodity, including money to increase in value by being lent to another person. The prohibition is bilateral, which means that the lender cannot accept it and the borrower can’t pay it.
However, Shariah doesn’t prohibit the making of as return on capital if the provider is willing to share in the risks of a productive enterprise.
The second is the potential for ‘unethical concerns’ in the investment mix. All the three Blockchain-Assets offered by Al Kasir Portal can be only used to purchased specific products so, there are no unethical concerns.
The third and the final area relates to the nature of the contract between the parties involved. Islamic finance also places great emphasis on the validity and transparency of contracts. In addition to insisting on investment contracts being put in writing, there are clear guidelines on ensuring that all terms and conditions of the investment contract are detailed in a manner in which no disputes can arise in the future. Any contract failing to pin down its key components in a manner in which the uncertainty may cause a dispute between the contracting parties is guilty of containing “Gharar” (Unacceptable Uncertainty) and is null and void in the eyes of Shariah.
Al Mas, Al Falah and Al Haqeek are based on these three rules and are completely Shariah-complaint.