In the CLS system (The FX clearing system set up to avoid Herstatt risk) , if a US based bank trades with a Saudi Based bank on Wednesday, when does actual settlement take place?Using the T+2 rule I expect a US bank to settle on Friday (Wed + 2 working days).For the Saudi Based bank, the working week is typically Saturday to Wednesday. So using T+2 I would expect the settlement date for Saudi to be Sunday.However, I found this statement...Quote...for a US Dollar-Saudi Rival deal done on a Wednesday, the dollar deposit will be transferred on Friday while the transfer of Riyals will be on Saturday...Source: International Financial Management" (4th Edition), APTE P.G. (p130)Can someone please explain why the Riyal transfer would Saturday since T+2 in Saudi suggests a Sunday transfer?