How to open a bank account in Bahrain Development Bank (BDB)

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, 2024

Last update

October, 2023
  • the bank was founded in 1992 and is focused on small and medium business;
  • the bank only opens corporate accounts for companies older than 6 months;
  • 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 deposit to open an account BHD 6 000* (~ USD 15 920);
  • personal visit of founders and account signatory in Bahrain is required to open the account;
  • the main currencies available: BHD, USD, EUR, but you must first open an account in the local currency;
  • bank cards and chequebooks are available;
  • pre-approval is possible before starting the account opening process;
  • transfer fee to a foreign bank is ~ BHD 5,5* (~ USD 15);
  • 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
February, 2024
Last update
October, 2023
Your Consultant
Поиск консультанта...

Поиск консультанта...

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
1992
History
The bank began its operations in 1992
Personnel
There are English-speaking staff
Bank’s shareholders
All shares of Bahrain Development Bank are owned by the Government of Bahrain
Confidentiality
AML legislation is strictly observed
Compare banks

    Minimum requirements

    14 897
    Minimum balance, €
    No restrictions
    Transactions permitted per month
    14 897
    Initial deposit of funds, €
    1
    Deadline for the initial deposit, month
    Minimum balance, €
    After opening an account you need to make an Initial Deposit of BHD 6 000 (~ USD 15 917)
    Transactions permitted per month
    No limit on the number of transfers
    Initial deposit of funds, €
    The initial payment is equal to the minimum deposit
    Deadline for the initial deposit, month
    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, €
    N/A
    Account maintenance, €/year
    N/A
    Payment limit for credit cards, €/day
    Outcoming transfer, €
    Transfer fee to a foreign bank is ~ BHD 5,5 (~ USD 15)
    Incoming transfer, €
    The bank does not charge for incoming payments
    Distant access to the account
    There is Internet banking in English
    Financial products
    The bank provides a variety of financial services designed to meet the needs of small and medium-sized businesses in Bahrain. These include business financing, Islamic financing and Tamkeen financing for manufacturing, agro-industry, medical and other service sectors
    Credit/debit cards
    Bank cards and chequebooks are available

    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
    A personal visit of the founders and the account signatory to Bahrain is required to open an account
    Required
    For legal entity: Charter and Articles of Association; Company Registration Certificate; Account Opening Resolution indicating the signatory on the account; completed bank form on the company and owner; copies of current contracts with counterparties; office lease agreements, cash flow chart, ownership structure chart, etc.
    . On the individual (directors / shareholders / beneficiaries / attorneys): proof of identity (passport) + CPR / ID card; proof of address (in Bahrain and in the country of residence) no older than 3 months; Summary; Bank references + bank statements for the past 6 months.
    Types of accounts
    Current
    Chances to open an account
    Predictable

    Banks of Bahrein

    Bank
    The cost of opening an account, $
    Global rating
    Countrywide rating
    GSL rating
    Need a consultation from a specialist?
    Share on social media:

    Add a comment

    By clicking the «Send» button, you agree to the processing of personal data in accordance with the terms of our privacy policy

    RU EN