07-16-2006, 07:50 PM
<blockquote id="quote"><font size="1" face="Verdana, Tahoma, Arial" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by Muhammad Adnan Arshad</i>
<br />Please, tell me in detail, what does nostro accounts mean? what kind of accounts are these & how are they treated?
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
The accounts maintained by bank A with bank B is called Nostro in the books of bank A, whereas in the books of bank B it is called Wostro.
The credits balance of Nostro account shall not be confused with Wostro, because credit balance of Nostro shows balance owerdrawn.
<br />Please, tell me in detail, what does nostro accounts mean? what kind of accounts are these & how are they treated?
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
The accounts maintained by bank A with bank B is called Nostro in the books of bank A, whereas in the books of bank B it is called Wostro.
The credits balance of Nostro account shall not be confused with Wostro, because credit balance of Nostro shows balance owerdrawn.
