Standard Chartered Bank (SCB) on Monday announced the launch of the industry’s first Islamic Euro Nostro Account. Islamic banks across the world will now be able to earn Shariah-compliant profits on their account balances at Standard Chartered Bank, Germany Branch, in Frankfurt.
Bank Alfalah Limited is the first to sign an agreement with Standard Chartered Bank for Islamic Euro Nostro Account at the recently concluded ‘Bankers Conference 2012′ which was held in Istanbul, Turkey. The Standard Chartered Saadiq EUR clearing account utilises a Shariah-compliant account sweep facility………………………………………..Full Article: Source