They will need to have connections and agreements with banks. A year after Binance came on to the scene they still have not directly settled with FIAT in to customer bank accounts.
Even if by some miracle this Adab Haraam exchange got started it will take a very long time before they got anywhere near making deals with banks.
Its really hard to get permits for direct trading pairs with fiat. I know one project of the crypto exchange, so they have been working for half a year now and their application for permission to operate with Fiat has not yet passed from the regulator.
I am also trading on a new exchange, where there is not a single Fiat. I hope that the team will receive permission from the regulator and add fiaty.