How to open a bank account in Arab African International Bank

• the bank was founded in 1964 as the first Arab multinational bank;
• AAIB set a record of rapid dynamic growth, becoming the fastest growing bank in Egypt in terms of size and profitability since 2004;
• the bank opens savings (deposit) and checking accounts;
• the bank only opens accounts for local companies: Mainland (preferred), Free Zone Company (more difficult for compliance), personal accounts for residents;
• do not open accounts for non-Emirati companies (very strict compliance);
• don’t work with brokers;
• minimum balance for account opening – AED 25 000 (~ EUR 6 200)*;
• a visit of account signatory in UAE is required for account opening;
• available currencies: AED, USD, EUR, GBP, JPY, EGP, CHF;
• do NOT issue corporate bank cards;
• pre-approval before starting the process of opening an account (very strict) – a positive answer in this case allows you to say that the account is very likely to be opened in the end;
• transfer fee is AED 75 (~ EUR 19)*;
• Internet Banking in English;
• Account Opening Time: at least 1-2 weeks

*The rates shown here are approximate, as they may ultimately vary depending on the customer’s choice of service program at the bank