How to open a bank account in Ahli United Bank

GSL reference about the bank What is it?

Being professional intermediaries, we are limited in giving public opinion about some financial institutions. Please contact us directly to obtain more detailed feedback.

GSL rating

Beginning of cooperation

May, 2023

Last contact

February, 2025

Last update

February, 2025

founded in 1971 in Kuwait, it has been present in Bahrain since 2000;
the bank opens savings (deposit) and settlement accounts;
the bank opens accounts only for mainland companies registered in Bahrain, and personal accounts also only for Bahrain residents;
for a foreign company to open an account, it needs to have a branch in Bahrain;
the minimum balance of account is BHD 500* (~ USD 1 330); if the balance drops below this threshold, the bank charges a fee of BHD 5,5* (~ USD 15); the minimum threshold for Premium Banking is BHD 37 000 (~ USD 100 000);
no deposit requirement for a corporate account, but a share capital is required to be deposited in the account (the recommended optimal capital is BHD 10 000); the share capital is blocked in the account until the finalization of Commercial Registration (CR), licences, etc.;
the founders and account signatory are required to personally visit Bahrain for account opening;
main available currencies: BHD, USD, EUR; but it is necessary to open an account in local currency first;
the bank issues bank cards and cheque books;
pre-approval can be applied for before proceeding with the account opening;
fee for a transfer to a foreign bank is ~ BHD 5,5* (~ USD 15);
Internet banking in English;
account opening time: about 1 – 2 weeks.

*Rates are approximate as they may eventually vary depending on the service program chosen by the client in the bank

GSL rating

Beginning of cooperation

May, 2023

Last contact

February, 2025

Last update

February, 2025

Поиск консультанта...

+44 0 207 822 85 93

General information and rating

Not rated

Global rating

Not rated

Countrywide rating

—

Countrywide rating of the head bank

—

Global rating of the head bank

Year of foundation

2000

History

Ahli United Bank B.S.C. (“AUB” or the “Bank”) was established as a bank in Bahrain on 31 May 2000 following a merger between The United Bank of Kuwait PLC (“UBK”) and Al-Ahli Commercial Bank B.S.C. (“ACB”) pursuant to which UBK and ACB each became wholly owned subsidiaries of AUB. The Bank operates under a retail banking license issued by the Central Bank of Bahrain (“CBB”)

Personnel

There are English-speaking staff

Bank’s shareholders

Majority Shareholders: Public Institution For Social Security - Kuwait (18,67%), Social Insurance Organization - Bahrain (10,01%), Tamdeen Investment Co. - Kuwait (7,71%)

Confidentiality

AML legislation is strictly observed

Compare banks

Minimum requirements

1 230

Minimum balance, €

No restrictions

Transactions permitted per month

1 230

Initial deposit of funds, €

1

Deadline for the initial deposit, month

Minimum balance, €

Minimum balance for corporate account - BHD 500 (~ BHD 1 330), for personal - BHD 300 (~ USD 800), for foreign currency account - USD 2 000.
There is no deposit requirement for the corporate account, but it is required to deposit the share capital into the account (recommended as the optimal amount of MC - BHD 10 000).
The MC in the account is blocked until the procedures for CPR, licenses, etc. are completed

Transactions permitted per month

No restrictions on the number of transfers for current accounts

Initial deposit of funds, €

The initial payment is equal to the minimum balance of the account

Deadline for the initial deposit, month

To be entered immediately after opening an account

Minimum turnover, €/year

No turnover limit

How fast payments are executed

Same day or next day

Tariffs and services

14

Outcoming transfer, €

0

Incoming transfer, €

0

Account maintenance, €/year

N/A

Payment limit for credit cards, €/day

Outcoming transfer, €

Fee for transfer to foreign bank is ~ BHD 5,5 (~ USD 15)

Incoming transfer, €

The bank does not charge for incoming payments

Account maintenance, €/year

The bank does not charge for the account maintenance, if the minimum balance of the account is not reduced. If it decreases, the bank charges BHD 5,5 (~ USD 15)

Distant access to the account

Internet Bank in English

Financial products

AUB and its network of subsidiaries and associated companies form a banking group (“AUB Group”) providing
- retail banking;
- corporate banking,
- treasury and investment services;
- private banking and wealth management services; and
- Islamic banking products & services besides offering conventional and Takaful life insurance products

Credit/debit cards

Possible to issue bank cards and checkbooks

Account opening procedure

Days to open for incoming transfers

Case by case

Days to open for outcoming transfers

Case by case

References

Not necessary

Purpose of the account

Savings & current

Visit to the bank

Personal visit of the founders and account signatory to Bahrain is required to open the account

Required

For a legal entity:

- Memorandum and Articles of Association;
- Company Registration;
- Resolution for account opening, specifying the signatory to the account;
- Completed bank application forms for the company and the owner;
- Copies of existing contracts with counterparties;
- Office lease agreements, cash flow chart, ownership structure chart, etc.

For an individual (directors / shareholders / beneficial owners / attorneys):

- Proof of ID (passport) and CPR / ID card;
- Proof of address not older than 3 months;
- Bank reference letter and account statements for the last 6 months.

Types of accounts

Savings; Current

Chances to open an account

Predictable

Share on social media: