GSL / Offshore and International Law. Offshore companies registration. / Offshore Banking / Khaleeji Bank

How to open a bank account in Khaleeji Bank

GSL reference about the bank What is it?

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GSL rating

rating

Beginning of cooperation

August, 2024

Last contact

October, 2024

Last update

September, 2024
  • the bank was founded in 2004 in Bahrain and is licensed by the Central Bank of Bahrain;
  • the bank opens current and savings accounts and provides Islamic banking services;
  • the bank opens corporate accounts only for local companies registered in Bahrain, and personal accounts for residents and non-residents of Bahrain, provided that the latter are citizens of the Gulf countries;
  • opening an account for a foreign company will require opening a branch in Bahrain;
  • transactions within and outside Bahrain are possible, there are no restrictions on their direction;
  • minimum balance on current account – BHD 3 000 (~ USD 7 965), on savings account – BHD 200 (~ USD 540);
  • available currencies: BHD, EUR and others;
  • pre-approval procedure possible;
  • bank cards and checkbooks are issued;
  • Internet bank in English;
  • account opening period – 7-10 days.
GSL rating
rating
Beginning of cooperation
August, 2024
Last contact
October, 2024
Last update
September, 2024
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+44 0 207 822 85 93

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
2004
History
Started operations in 2004
Personnel
The staff speaks English
Bank’s shareholders
KHCB Asset Company (Gulf Finance House) Bahrain - 47%, Goldilocks Investment Company Limited Emirates - 9,9%, Emirate Islamic Bank Emirates - 8,41%
Confidentiality
AML legislation is strictly observed
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    Minimum requirements
    Minimum requirements

    7 160
    Minimum balance, €
    No restrictions
    Transactions permitted per month
    7 160
    Initial deposit of funds, €
    1
    Deadline for the initial deposit, month
    Minimum balance, €
    The minimum balance for a current account is BHD 3 000 (~ USD 7 965) and for a savings account is BHD 200 (~ USD 540)
    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 account balance
    Deadline for the initial deposit, month
    To be entered at account opening
    Minimum turnover, €/year
    No turnover restrictions
    How fast payments are executed
    Same day or next day

    Tariffs and services
    Tariffs and services

    N/A
    Outcoming transfer, €
    N/A
    Incoming transfer, €
    N/A
    Account maintenance, €/year
    N/A
    Payment limit for credit cards, €/day
    Distant access to the account
    Internet Bank in English
    Financial products
    The Bank offers three main product areas:
    Unrestricted Investments. These are short-term investments of different maturities, designed to attract short-term funds while offering higher yields.
    Restricted Investments. These are investment funds with property as an underlying asset. Different funds will be structured with varying property portfolios.
    Financing products. These comprise Murabaha and Ijara financing for commercial and residential properties.
    In addition, the Bank focuses on financing activities in real estate, both in Bahrain and around the region
    Credit/debit cards
    Bank cards and checkbooks can be issued

    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
    Account opening requires a personal visit of the founders and account signatory to Bahrain
    Required
    For legal entity: Articles of Association and Memorandum and Articles of Association; Company Registration Certificate; Resolution on account opening indicating the signatory on the account; completed bank forms for the company and the owner; copies of current contracts with counterparties; office lease agreements, cash flow chart, ownership structure chart, etc.
    For natural persons (directors / shareholders / beneficiaries / attorneys): proof of identity (passport) and CPR / ID card; proof of address not older than 3 months; bank statements for the last 6 months and other documents as proof of the source of origin of funds
    Chances to open an account
    Predictable

    Banks of Bahrein

    Bank
    The cost of opening an account, $
    Global rating
    Countrywide rating
    GSL rating
    Khaleeji Bank
    3 250
    N/A
    N/A
    Bahrain Islamic Bank (BisB)
    3 250
    N/A
    N/A
    Arab Bank
    3 250
    N/A
    N/A
    Al Salam Bank, ASB (formerly Kuwait Financial House)
    3 250
    N/A
    N/A
    Ahli United Bank
    3 250
    N/A
    N/A
    BBK (Bank of Bahrain & Kuwait)
    3 250
    N/A
    N/A
    National Bank of Bahrain (NBB)
    3 250
    N/A
    N/A
    Bahrain Development Bank (BDB)
    3 250
    N/A
    N/A
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