DMCC (Dubai Multi Commodities Centre), a Dubai government entity, announced at Davos 2020 in January that it is launching a crypto valley in its free zone, at the heart of the city’s in DMCC will enhance the city’s dynamic business environment, and support the wider strategy of the UAE government to attract the innovators, entrepreneurs and pioneers that will shape the future economy,” commented Executive Chairman and CEO Ahmed Bin Sulayem.
Established in 2002, DMCC aims to enhance commodity trade flows through the country. Its free zone offers a range of benefits including 0% personal and corporate income tax. Members can also remit all profits made back to their home countries without restriction. In October 2019, DMCC received the Financial Times Fdi magazine’s “Global Free Zone of the Year” award for the fifth consecutive years. A total of 85 global free zones were nominated in the 2019 competition.
The most attention was drawn to the project of UAE based SUSTAIN.EXCHANGE company on the creation of the First Shariah Compliance Crypto currency Exchange (SUSTAIN). By adhering to the high moral requirements set forth by the Shariah community, the company will utilize the in-house Shariah Advisory Board to ensure that Islamic Finance is finally included in the global crypto currency market. These new standards set forth by the SUSTAIN will ensure an enhanced quality of assets on exchange, as well as enhanced inclusion of Islamic crypto currency enthusiasts and traders.
SUSTAIN will introduce Shariah Advisory Board (SAB) within its structure - the independent body represented by internationally recognized Shariah experts, which will provide inputs on Shariah matters in order for the SUSTAIN to comply with Shariah principles at all times. SUSTAIN will provide high-quality services and information to the Muslim community about the crypto market, will carry out an explanatory mission, and facilitate the involvement of the Muslim community in the crypto market. This platform corresponds to the need of the Muslim Community for dealing with the right crypto assets, to participate in the development of innovations, the creation of new unique projects and companies.
This unique project raised a big interest from the participants of the Summit and investors looking for the good placement of their funds, as SUSTAIN.EXCHANGEs plan to launch an ICO (Initial Coin Offering) in june 2020 to finance this beneficial to Muslims Ummah project. SUSTAIN tokens issued during the ICO will be used to serve as a key to accessing the services of the exchange, as all commissions within the SUSTAIN will be paid only in SUSTAIN tokens. The internal economy of the Exchange is built on the deflation model of the token. This will help to systematically reduce the total number of tokens in circulation, which, combined with the increase in the volume of transactions, will lead to a predicted increase in the rate of SUSTAIN token.
Everyone interested to be a part of this project can visit the website of the company – www.SUSTAIN.EXCHANGE.com. Investment in this project will support the needed and well-timed project for the Islamic Ummah of the whole world and also can become a valuable acquisition that can bring a decent profit.
Send us your press releases to email@example.com
© Press Release 2020