There are various types of accounts provided by the Bank to its customers. Accounts are opened for individuals, institutions and companies of all types either in cash or by transfer from local or foreign Banks in local and main foreign currencies.
Owners of these accounts may benefit from internet banking services or by using Visa Electron Cards issued by the Bank for its customers through their accounts.
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Minimum opening balance is EGP1000.
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Holders of these accounts are free to deposit and withdraw by virtue of cheques that could be obtained from the Bank or by teller services available in all the Bank's branches in an easy and quick manner.
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Collecting cheques and bills for the holders of current accounts in Egypt or abroad.
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Payment of periodical commitments on behalf of the holders of current accounts as per their instructions. For example, the payment of phone bills, instalments or other commitments to be paid to institutions as indicated by the customer.
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The Bank may open new accounts for the customers working abroad after having their signatures endorsed on the applications of opening accounts from authorized bodies (correspondent banks, embassies and consulates).
Free investment account in local and foreign currencies
This account consists of three-month investment deposits that are renewable automatically. These deposits may be in Egyptian pounds or in any foreign currency according to the following system:
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Minimum opening balance is EGP 5000, USD 1000, SAR 5000 or GBP 1000.
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Cash deposits and remittances received shall not be less than EGP1000,USD500 or SAR2000or GBP 250), provided that the balance of accounts shall not be less than the previous item.
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The tenor of investment deposit is three months. The return is calculated from the beginning of the month following the month of deposit. It is possible to withdraw and deposit at any time.
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The accrued return on the account is paid following the end of every quarter of the financial year of the Bank and is credited to either the current accountor the investment account of the depositor based on written request only after the accrued quarterly return exceed the minimum limit of the deposit.In case of withdrawals from the investment account before the end of the quarter, no return is calculated on the amount withdrawn during the quarter period in which the withdrawal has been made.
Free investment account in Euro
This account is an open-term investment account sharing in the Bank'sbusiness results according to Islamic Sharia principles.
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Minimum opening balance is Euro 1000.
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Cash deposits and remittances received shall not be less than (500 Euro) in each time, provided that the balance of accounts shall not be less than the previous item.
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Returns are distributed every three months subject to the actual business results of the Bank.
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An annual return that is competitive with the returns Euro currency in international markets.
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Accounts may be opened in the names of minors or as joint accounts.
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Providing an opportunity to perform Umrah (a lesser pilgrimage to Mecca, Saudi Arabia, performed by Muslims that can be undertaken at any time of the year) at the Bank’s expense through the drawing of lots by the Bank twice a year.
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Possibility of carrying out investment transactions which are guaranteed by the accounts to meet the customer needs based on the Bank’s regulations.
Joint account
This account is subject to the same conditions and rules of the current accounts or investment accounts of a three-month term or 24 month according to the customer's desire. The privileges of such accounts are:
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Any of the partners is free to deposit or withdraw from this account according to what is agreed upon between them.
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Possibility of opening a joint account for the husband and wife or any other persons.
Investment account in the name of minors
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The account is opened in the name of the minor under the father's custody. The father has the right to withdraw and deposit till the minor reaches the age of 21 years.
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Investment accounts in the name of minors may be opened by a third party as a donation to the minor. The third party opening the account has the right to withdraw or deposit freely till the minor reaches the age of 21 years.
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It is possible to open an account for an adolescent minor (from 16 to 21 years) in the minor's name provided that he/she informs the Bank about source of the money. The minor may withdraw and deposit but doesn't have the right to use or issue cheques.
Steps to open an account for individuals
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The customer shall go to opening accounts unit where an employee checks customer identification papers such as ID card, passport and weapon possession license, and checks ID for officers and non-commissioned officers.
Steps to open an account for legal entities
The documents that are required to open accounts for the companies mentioned hereafter:
General partnership or limited partnership.
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Memorandum of association of the company signed by all partners.
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Summary of the memorandum of association registered at the court of first instance.
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An authorized copy of the commercial register issued not more than 6 months.
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Official Gazzet in which the formation of the company has been announced.
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Joint stock companies incorporated under the investment law.
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An authorized copy of Tax card.
Joint Stock Company established in accordance with Investment Law
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Memorandum of association of the company signed by all partners.
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Official bulletin of the Egyptian Gazette including decision of the Minister of Economy issued for incorporation of the company, the company's memorandum of association and its statutes.
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An authorized copy of the minutes of the General Assembly meeting in which Board of Directors has been elected.
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An authorized copy of the minutes of the meeting of the board of directors in which the party entitled to sign on behalf of the company has been specified.
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An authorized copy of the commercial register.
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Memorandum of association of the company signed by all partners.
Joint Stock Company established under Law No. 159 of 1987
-Memorandum of association and the statutes endorsed from the companies authority or the official bulletin of companies including the said documents.
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An authorized copy of the minutes of General Assembly meeting in which the board of directors has been elected.
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An authorized copy of the minutes of the board of directors meeting in which the party entitled to sign on behalf of the company has been specified.
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An authorized copy of the commercial register issued not more than 6 months.