From Cpifinancial.net: Standard Chartered Bank has announced the launch of the first Islamic US Dollar Nostro1 Account in the US. The facility will operate on the Islamic finance principle of Commodity Murabaha. Profits will be paid on a monthly basis.
Al Baraka Banking Group is the first bank in the region to benefit from this product and signed an agreement with Standard Chartered Bank at the Thought Leadership MENA Bankers Conference in Lebanon……………………………………….Full Article: Source