Foreign Currency account, is an investment saving account which is compliant with the Islamic Shari’a principles. This type of account can be opened in one of the three major currencies: US Dollar, Sterling Pound and Euro.
The account offers clients the ability to:
- Low minimum balance requirement.
- Competitive profit rates
- Annual profit distribution.
- Local or international remittance facility.
- Standing order facility.
- Easy and quick access to funds.
- Free quarterly account statements.
- SMS notifications on account transactions.
- No account opening fees.
- The account can be opened for individuals and legal entities.
- Minimum age to open the account is 21 years.
- Minimum opening balance will be equivalent to BD 20.
- Requirements for Personal Accounts:
- For Bahrainis:
- a) Original Identification (e.g. CPR or Passport)
- b) Proof of address (e.g. Driver's license or Utility Bill)
- For Non Bahrainis:
- a) CPR
- b) Passport with a valid residence permit
- c) Account statement or a salary certificate.
- For Bahrainis:
- Requirements Corporate Accounts
- Original CR.
- 2 original IDs from the following:
- a) CPR
- b) Passport
- c) 6 months financial statement.
- d) Article of associations (if applicable).
- e) Board of Resolution (if applicable).
- f) Registration Form.