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

GSL reference about the bank What is it?

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GSL rating

rating

Beginning of cooperation

May, 2023

Last contact

October, 2024

Last update

June, 2024
  • 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

GSL rating
rating
Beginning of cooperation
May, 2023
Last contact
October, 2024
Last update
June, 2024
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General information and rating
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
1971
History
BBK (Bank of Bahrain & Kuwait) was founded in Bahrain in March 1971.

The bank's first overseas branch was opened in Kuwait in 1978. A few years later branches were opened in Kuwait, India, UAE and Turkey
Personnel
There are English-speaking staff
Bank’s shareholders
The shareholders are the Government of Bahrain, banks and investment companies in Kuwait. The bank's shares are listed on the Bahrain Stock Exchange
Confidentiality
AML legislation is strictly observed
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    Minimum requirements
    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 (~ USD 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
    Tariffs and services

    11
    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 4,4 (~ USD 12)
    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 account balance is not reduced. If it decreases, the bank charges BHD 5-20 (~ USD 14-53)
    Distant access to the account
    Internet Bank in English
    Financial products
    The BBK is split into four major segments:
    Retail Banking deals with individual customers through e-banking, loans, multi-feature accounts, credit facilities etc.;
    Treasury and Investment which handles internal consults with the various departments and affiliated companies to handle capital management;
    Corporate Banking focuses on corporate and institutional customers within Bahrain; and International Banking works with overseas corporates and institutional customers, with branches in India, representative offices in Turkey and Dubai, and global correspondence with larger banks, to manage overseas trading, money marketing plus funding operations
    Credit/debit cards
    Possible to issue bank cards and checkbooks

    Account opening procedure
    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: 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

    Banks of Bahrein

    Bank
    The cost of opening an account, $
    Global rating
    Countrywide rating
    GSL rating
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    Comments

    • userpic round-small-mask

      25.06.2024 06:48:50 Md Abu musa mdkanch

      Myself win money bbk caridet card and my account and my win money sand me today dlaviry

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