Current Account

The credit policy of our bank and the services provided by the bank:

1. Current Account (individuals):

a. Eligibility: An Iraqi Citizen and Iraqi Residents above 18 years of age

b. Type of Account: Individual, Joint accounts or Minor Accounts under Guardianship.

c. Documents needed (Iraqi Citizens):

i. National ID

ii. Residency card

iii. Valid passport (If Any)

iv. Civil Status ID

v. Two recent photos

d. Documents needed (Non Iraqi Citizens):

i. Valid Passport

ii. Residency card

iii. Residency Permit

iv. Address Proof

v. Two recent photos

e. A current account can be opened by a minor (person under 18 ) according to the following procedures:

i. A natural custodian (the father, grandfather, great grandfather are custodians for their children and grandchildren) can open and operate the account on behalf of the minor.

ii. Court appointed custodian on providing legal documents accredited by the court

f. An account can be opened for an illiterate or a blind person. His/Her thumb impression/signature in the presence of two independent witnesses.

g. An account can be opened for a veiled woman, after completing all necessary recognition conditions.

2. Current Accounts (Local Companies)

a. An account can be opened in name of a company after providing the following:

i. License of incorporation issued by competent government authority.

ii. Memorandum of association certified by a competent authority.

iii. A copy of articles of association.

iv. Resolution of the board of directors to open the account stating the names of authorized signatories and validity period and limits of withdrawals attested by the notary public.

v. A copy of the personal IDs of the authorized persons.

vi. A copy of the latest annual report of the company.

3. Current Accounts (Foreign Companies)

a. An account can be opened in name of a company after providing the following:

i. License of incorporation issued by competent government authority attested by the Iraqi Embassy at the country of incorporation.

ii. Memorandum of association certified by a competent authority attested by the Iraqi Embassy at the country of incorporation.

iii. A copy of articles of association attested by the Iraqi Embassy at the country of incorporation.

iv. Resolution of the board of directors to open the account stating the names of authorized signatories and validity period and limits of withdrawals attested by the notary public and Iraqi Embassy in the country of incorporation.

v. Certified true copy of the company’s representative office or branch license issued by Registrar of Iraqi Companies.

vi. A copy of the personal IDs of the authorized persons.

vii. A copy of the latest annual report of the company.