From Businessweek.com: Standard Chartered Plc will offer hedging contracts using commodity derivatives that comply with Islamic law to help companies and investors in the Middle East to better control risk.

The U.K. bank, which generates most of its profit in emerging markets, is in “advanced discussions” with its customers in the Middle East and plans to offer Shariah- compliant derivatives by the end of March, Afaq Khan, chief executive office of the lender’s Islamic banking unit in Dubai, said in an interview today……………………………………Full Article: Source