How to open a bank account in Ahli United Bank

GSL reference about the bank What is it?

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GSL rating

Beginning of cooperation

May, 2023

Last contact

April, 2024

Last update

March, 2024

the bank was founded in 1971 in Kuwait, and has been represented in Bahrain since 2000;
the bank opens savings (deposit) and current accounts;
the bank only opens accounts for local companies registered in Bahrain, and personal accounts also only for residents of Bahrain;
to open an account for a foreign company will require the opening of a branch in Bahrain;
minimum account balance BHD 500* (~ USD 1 330), if lower the fee is BHD 5,5 (~ USD 15); threshold for Premium Banking is BHD 37 000 (~ USD 100 000);
personal visit of the founders and account signatory to Bahrain is required to open the account;
there is no deposit requirement for the corporate account, but requires that authorized capital be deposited in the account (recommended as the optimum amount of authorized capital is BHD 10 000). The authorized capital in the account is blocked until the procedures for CPR, licenses, etc. are completed;
available currencies: BHD, USD, EUR, but you must first open an account in the local currency;
it is possible to issue bank cards and checkbooks;
pre-approval is possible before the account opening process;
fee for transfer to foreign bank is ~ 5,5 BHD* (~ 15 USD);
Internet bank in English;
time of account opening: 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

April, 2024

Last update

March, 2024

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

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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: Trade License; Memorandum and Articles of Association; Company Registration; Request for account opening indicating the signatory on the account; Tax Card, Computer Card; Registration Cetificate (QFC), Commercial Registration Extract (QFC); completed bank form on the company and owner; copies of current contracts with counterparts; office rental agreements, cash flow chart, ownership structure chart, etc.
On physical persons (directors / shareholders / beneficiaries / attorneys): proof of identity (passport) + QID; proof of address (Metrash) not older than 3 months; CV; bank references + bank statements for the last 6 months

Types of accounts

Savings; Current

Chances to open an account

Predictable

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