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- Barter is the process of exchanging products, goods or services, for other products, goods or services. It is a simple method of transaction where little to no money is used. In today’s world, it exists parallel to the monetary system.
- Historically barter operated instead of money as the primary method of exchange throughout Islamic and non-Islamic states.
- Today barter has become a much more systematic and structured system of commerce. Modern barter and trade has advanced to become an effective method of escalating sales, saving cash and recovering value from excess or perishable production capacity.
- A trade or barter exchange provides a trading platform and bookkeeping system for its members or clients to provide barter opportunities.
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