How to open a bank account in Al Salam Bank, ASB (formerly Kuwait Financial House)

• founded in 1977 in Kuwait, represented in Bahrain since 2002;
• 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 100* (~ USD 265), for personal account – BHD 20 (~ USD 53);
• initial deposit required – BHD 1 000 (~ USD 2 650);
• personal visit of the founders and account signatory to 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 (corporate cards are issued only if the company has 1 shareholder) and chequebooks are available;
• pre-approval is possible before the account opening process;
• transfer fee to foreign bank is ~ BHD 3,3* (~ USD 9);
• 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