The management forwarded the following suggestions to the Council, with the intention of rectifying the difficulties which currently exist in the implementation of currency trading. The most prevalent problem is the problem of time delay, i.e. the need to receive payments for a contract before entering into another contract. To solve this matter, the management suggests the usage of a system of settlement, to reduce the time lag of receiving payments from international institutions. The management feels that it is possible to avoid the system of entering into banking exchanges, which is the current practice.
It is proposed that the time delay in terms of receiving the money from a contract be reduced, so that new contracts can be undertaken.
Issuer: Arab Institute of Islamic Banking.