How to open a bank account in BBK (Bank of Bahrain & Kuwait)

• the bank was founded in 1971, one of the oldest banks in Bahrain;
• 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 balance for corporate account BHD 500* (~ USD 1 330), for personal account – BHD 300 (~ USD 800), for foreign currency account – USD 2 000, if lower – BHD 5-20 (~ USD 14-53);
• 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;
• personal visit of the founders and account signatory in Bahrain is required to open the account;
• 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 ~ BHD 4,4* (~ USD 12);
• 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