How to open a bank account in Arab 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 1960 in Jordan, it is also represented in Bahrain;
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 for a corporate account is BHD 500* (~ USD 1 330); after opening an account, it is also necessary to deposit BHD 70 000 (~ USD 185 000);
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.

*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

1960

History

Group of companies were registered on May 21, 1930 and began their operations in Jerusalem on July 14 of the same year. In 1948, the bank's headquarters were moved to Amman, Jordan, where it was officially registered as a public limited company. In 1961 the bank opened its first international representative office, becoming the first Arab financial institution to establish a presence in Switzerland.

Arab Bank was the first publicly traded company listed on the Amman Stock Exchange in 1978

Personnel

There are English-speaking staff

Bank’s shareholders

Majority shareholder - Social Security Corp. (17,2%)

Confidentiality

AML legislation is strictly observed

Compare banks

Minimum requirements

1 228

Minimum balance, €

No restrictions

Transactions permitted per month

171 850

Initial deposit of funds, €

1

Deadline for the initial deposit, month

Minimum balance, €

Minimum balance for a corporate account is BHD 500 (~ USD 1 330)

Transactions permitted per month

No limit on the number of transfers

Initial deposit of funds, €

After opening the account a deposit of BHD 70 000 (~ USD 185 000) is required

Deadline for the initial deposit, month

Immediately after opening an account

Minimum turnover, €/year

No turnover limits

How fast payments are executed

Same day or next day

Tariffs and services

14

Outcoming transfer, €

0

Incoming transfer, €

N/A

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

Distant access to the account

Internet Banking in English

Financial products

Arab Bank provides a wide range of financial products and services to individuals, corporations and other financial institutions.

The bank's products and services cover consumer banking, corporate and institutional banking, and treasury services

Credit/debit cards

It is 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 in 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: