FAQs

Frequently Asked Questions. These are some of the most common questions and answers about iP2PGlobal, if you couldn't find your question in the list below, please fill in the form below to submit your question.

  • What is iP2PGlobal?
    IP2PGlobal is a 'Peer to Peer' lending platform that provides financing products based on ethical and Sharia principles
  • What is TWQ token?
    TWQ token is an ERC-20 token.
    • Only owners of token can apply for personal financing on the IP2PGlobal Peer to Peer Lending Platform.
    • Borrowers can borrow 2 ETH to 5 ETH with each 10 TWQ tokens. If borrowers want to borrow more, then he needs more TWQ tokens in multiples of 10 TWQ.
    • TWQ token is re-usable once they have completed the financing and can use the TWQ tokens again for borrowing.
  • What is the price of TWQ tokens?
    Price per TWQ Token is 0.0002 ETH
  • Can we purchase TWQ Tokens with cash or other crypto-currencies?
    We do not accept cash purchase and TWQ can only be purchased using ETH.
  • How can I buy TWQ Tokens?
    Instructions will be provided a few weeks before the start of the Pre-ICO.
  • When are the tokens distributed?
    21 days after the closing of the ICO Sale.
  • What Is a Peer to Peer Lending Marketplace?
    Peer to peer lending matches people that want to invest with people who want to borrow, through an online marketplace. Peer to Peer lending platforms, like IP2PGlobal, facilitate this process.
  • What is the difference between Sharia and conventional lending?
    Islamic finance is finance based on trade transactions in order to remove the basis of making money from money, often interpreted as interest. The trade transaction will typically involve an underlying asset. As such Islamic banks do not lend money, they enter into trade transactions based on leasing, partnerships and trading. Sharia finance principles also relates closely to the concept of ‘Ethical Finance’ that emphasize the values of fairness, equality and morality in finance.
  • Are TWQ Tokens required to become a lender?
    No, lenders can start lending without the need to purchase a TWQ token.
  • Is there any Bounty Reward?
    We have TWQ Bounty and Referral Campaigns. To receive free TWQ tokens, you can join our Bounty Campaign. You may also earn Referral Bonus in ETH if you participate in our Referral Campaign. Email to [email protected] or check our website for details.
  • Where is the IP2PGlobal platform available?
    The platform is a global platform which can be accessible by everyone around the world.
  • When will the iP2PGlobal platform be ready?
    The new platform is targeted to be ready by end of 2018. In the interim, we will have a modified platform ready in August 2018 to begin using the TWQ tokens in the financing process over the platform.
  • How secure will the iP2PGlobal platform be?
    The platform will be based on Smart Contracts using Blockchain technology, which is a fast, efficient and trusted network.
  • Why are we different?
    Global Rates - We provide a global benchmark rate for all borrowers irrespective of their domicile. Rates will only depend on their individual credit rating.

    Sharia Based – We are the first cryptocurrency based P2P platform that offers Sharia based P2P lending. Basically, Sharia finance principles means ethical lending, emphasising the values of fairness, equality and morality in finance.

    Takaful Reserve Fund – Lenders will have an option to take some protection in cases of default in unsecured Tawarruq personal financing.

    Automated matching - We are introducing an automated matching based on pools, to ensure fair disbursement of financing.

    Immediate usage of TWQ Tokens – Modifications are being made on our existing P2P platform to accept TWQ Tokens and financing can start in June 2018.

    Robust Credit Assessment - We provide robust credit assessment by combining our proprietary bank grade credit scoring model with social credit scoring mode.

    E-Agreements – All financing contract under our platform shall be signed electronically and makes it a binding legal contract. With the E-financing agreements executed, recovery process can be initiated if there is a default situation.

    KYC - AML/KYC compliance - Anti Money Laundering & Know Your Customer requirements on all borrowers and lenders on our platform in line with best banking practices.

    Smart Contracts - The TWQ token is an ERC20 smart contract that enables the execution of a Tawarruq financing contract on the iP2PGlobal platform
  • What financing products will be offered?
    We will be offering unsecured and secured personal financing based on Sharia principles using Tawarruq Commodity Trading Program.
  • What security do I need to provide for secured financing?
    We only accept Bitcoin, Ethereum, Bitcoin Cash, Dash, Ripple and Litecoin as collaterals.
  • Is the financing in TWQ tokens?
    No, the financing will be done in ETH.
  • Is this platform only open to Muslims?
    No, it is open to everyone. Although the financing product is based on Sharia principles, it is essentially ethical based financing which would appeal to everyone regardless of their religion or creed.
  • Is this a truly global platform?
    Yes, anyone can invest in the platform. However, only borrowers from selected countries which have laws allowing person to person financing can apply for financing on the platform.
  • Is there a minimum subscription amount for TWQ tokens?
    The minimum purchase is 50TWQ tokens or 0.01 ETH.
  • Will you have different rates for the borrowers from different countries?
    We provide a global benchmark rate for all borrowers irrespective of their domicile. Rates will only depend on their individual credit rating.
  • Do you provide any insurance against borrowers defaulting?
    We have a Takaful Reserve Fund which is an option to unsecured lenders to contribute and be protected in a default situation. We will contribute 15% of the amount raised in the ICO into the Takaful Reserve Fund as seed capital
  • How do you assess the credit risk of a borrower?
    We provide robust credit assessment by combining bank grade credit scoring model with social credit scoring model.
  • How are the lenders and borrowers matched?
    We are introducing an automated matching based on pools, to ensure fair disbursement of financing. However, lenders can still opt to lend to the specific borrower if they so choose
  • Do lenders have legal protection by pursuing borrowers in case of defaults?
    Lenders will have legal protection with the E-financing agreements executed, recovery process can be initiated if there is a default situation
  • Can borrowers and lenders remain anonymous?
    In line with best banking practices, we will have Anti Money Laundering & Know Your Customer requirements on all borrowers and lenders on our platform. However, not all details of borrowers and lenders will be shown on the platform.

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