Habibicoin background check and a review

Disclaimer: this is not a full review, it is mostly a brief background check and a brief analysis of a project, which came to my attention due to their aggressive and unreasonable marketing practices (Habibicoin marketers are randomly spamming invitations and adding people to their groups, so some of my friends from the crypto community and some investors particularly from the MENA region were affected).

The first red flag is the current status of the project. It is less than 2 days until the PRE ICO launch, but the White Paper is still in a draft, and it literally contains no valuable information whatsoever. There are bold and false claims (such as " Islamic finance is growing at a 16% annual rate" - it was in 2015, but it is a lie in 2017 or 2018; or claims about the Habibicoin token full compliance with Islamic Finance, although there are several profit points, which would likely to be considered as riba - I got it from the Islamic Finance professionals and will leave it to them) and simple mistakes, that shows little-to-none expertise in Finance (such as spelling "fintech" as a "fine-tech", which might be their invention and an internal code word, who knows; and there are more, just read the paper , if you want to laugh at amateurs talking about finance in a deeply unprofessional manner).

The test and formatting errors, the overall design sloppiness, tons of factual problems and a crazy mix of supporting "facts" for reasoning... these are just a surface of Habibicoin's ICO problem. But, those are enough to ask yourself, if you want someone doing that poor job with a lot of mistakes to manage a real-estate business on your behalf. I mean, real estate management and mortgage financing are two business, where precision and execution are key differences between fail and success, since margins are narrow, competitions always present and capital utilization ratio is always high - there simply is little to none place for mistake.

I just checked simply looked in the Internet to find information about this, and it is amazing, how many red flags are there. Following is a list of findings about the Habibicoin and the founder behind it:

1. Adam Ali did that thorough video investigation

on the Con Mirza, and it would be really a nail in a coffin for any real businessman's reputation. But for such a shady person and his circle it may be not that damning.
2.Here is not that reputable, but still a useful source of CrzptoKillersé https://cryptokillers.com/habibi-coin-and-com-mirza-scam-alert/ . This piece has no strong evidences in it, but just the fact, that neither of their allegations were addressed by anyone from the Habibicoin looks like a red flag. Their catch with the Com Mirza's website is an actual evidence of a con nature. Just check ou how he changes his claims about his own story:
This us now: http://www.commirza.com/
This is what he told before: https://web.archive.org/web/20170925134227/http://www.commirza.com/coms-story/

There are some articles about Habibicoin and Com Mirza on the internet. But, there is a huge red flag, since those articles (for example in Forbes MIddle East) were made by Mrs. Tasnim Nazeer, who is a part of Habibicoin's team, or her close affiliates. Anyone sees a problem with biased information representation. https://www.forbesmiddleeast.com/en/the-dubai-initiative-campaigning-to-feed-millions-during-ramadan/

https://icobench.com/ico/habibicoin Just check out their rating from the ICOBench. No KYC, *very bad rates and no team respose. That simply shows, that Habibicoin team is either negligent to their public profile, or there is no active team dedicated to this project.

To get a better understanding of the target audience of Habibicoin, Mr. Com Mizra and his affiliates, you shall check channels, that are used by Mr. Mizra to promote his projects and recruit clients. The low level of rhetoric there speaks for it self, but I it would be fair to let you you decide on your own. If you will have some hesitation, check out he full Bitconnect or One Coin videos to find out, that these people have very similar approach and message, the same audience profile and in the end they likely have the same motivation to work with such audience.

I'm not even talking about the obvious problems with the Habibicoin team profiles and many other problems mentioned in the reviews above.

Summarizing all the facts, I would recommend to stay away from this ICO, until the project image is fixed and the project message become clear and reasonable, not a crazy mix of everything to distract you from the missing sense and a mess with the value proposition, as it is now.