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Accounts

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Current accounts, Checking accounts or Demand account

The accounts payable by the  bank are open to its customers under an agreement between the parties, the holders are entitled to deposit and withdraw from the account unconditionally  and are allowed to use checks and other means of withdrawal and  to settle the account , the bank is obliged to  pay the full amount or part thereof to the account holder at the demand , in terms of legality , thus guaranteeing the return of the case if it was undercut if the bank invests these funds and the risk of investment and not the depositors.

It is possible to open accounts of this type for the benefit of individuals (natural person), individually or jointly , and individual enterprises , companies of various kinds, and various organizations such as associations, unions, clubs and unions , cooperative societies and charitable, religious , cultural and other organizations, firing , and to all moral persons(legal).

*these accounts are originally intended for individuals, institutions and companies who have a large number / large volume of transactions to facilitate their daily business securing their requirements these accounts are not entitled to any interest, and to bear any losses, but the account holder may be charged commissions or fees for managing  the account or providing  banking services to him.

*the current accounts are operated using checks made by the bank to the customer, or payment orders , through which the money is withdrawn either individually or by the holders of the joint account or representatives of the designated entity ,in individual and joint forms.

Currencies includes (Iraqi Dinar, US Dollar, UAE Dirham, Sterling Pound, and Euro)

 

Requirements for opening personal account (ongoing, provisioning, fixed deposit):

1-civil status identity (phosphorus triangle).

2-certificate of Iraqi nationality (phosphorus triangle)

3-national card.

4-iraqi passport valid (more than 6 month’s date of completion).

5-information card or housing card or ration card (Erbil) or residence.

6-(2) photos and 3 for savings.

7-the identity of work or support work (source of fund).

8- Minimum m=balance when opening an account (first deposit) 250 USD or 300,000 IQD or 200 Euro or 200 GBP.

9-the cost of the account opening for individuals 15,000 IQD or 15 USD or 15 Euro or 15 GBP

 

Requirements for opening account for foreign nationalities (non-Iraqis):

1-passport valid for the original copy (more than 6 months on the expiry date).

2-residence (original version).

3-(2) photo for the current account and 3 photos of the saving account.

4-the identity of work or support of work (source of funds).

5-minimum balance when opening an account (first deposit).

6- Minimum balance when opening an account (first deposit) 250 USD or 300,000 IQD or 200 Euro or 200 GBP.

7- Cost of account opening forms for individuals 15,000 IQD or 15 USD or 15 Euro or 15 GBP.

 

Account opening requirements for organizations and institutions

1-certificate of the organization or institution.

2-rules of procedure certified by non - governmental organizations in the case of the organization or institution non -governmental .

3-approval of the region to open the organization (leave the organization) .

4-A letter of support from the ngo department endorsing the identity of the president of the organization, the director general of the organization or the regional director of the organization.

5-stamping the organization or institution.

6-The documents of the president of the organization, the director-general of the organization or the regional director of the organization (the identity of the civil status of the phototonus triangle: the certificate of nationality of the phosphorous triangle or the national identity card , passport, photo number 2 ,information card or residence).

7-In the case of authorized person, A letter specifying the names of the authorized person shall be sent, specifying the quality and conditions of such withdrawal individually or in association with the presence of the authorized persons with their original identity documents (the civil status ID , phosphor triangle, nationality certificate, phosphor triangle or national identity card, 2 photo , card information or residence, stamp of the organization or organization).

8-if the parent organization is outside IRAQ and a branch has been opened in Iraq , the organizations papers must be submitted to the ministry of foreign affairs for approval to open the branch in the Kurdistan region , the minutes of the meeting are approved by the ngos, branch and its powers. 

9-minimum balance when opening an account (first deposit)

the amount of $250, 300000dinars, or 200euros or 200 pounds.

10-the cost of the account opening forms for individuals (ID25000, USD25, EUR25,GBP25)

and forging organizations (ID50000, USD30, EUR30, GBP30)

 

Account opening requirements for individual projects

  • 1-The license to practice the profession.
  • 2-Lease contract for the project.
  • 3-A administrative order certified by the competent deans.
  • 4-Seal the project.
  • 5-The owner of the project (the identity of the civil status of the phosphoric triangle , the corticated of nationality, the phosphoric triangle or the national card , the passport, photo number 2, the card of information or residence)
  • 6-Minimum balance when opening an account (first deposit)

The amount of 250$, 300000dinas, or 200 euros, or 200 pounds.

 

 

Requirements for opening an account for companies

1-minutes of meeting, certificate of establishment certified by the registrar of companies.

2-the company’s memorandum of association shall be authenticated by the registrar of companies.

3-seal the company.

4-approval (administrative order) and the decision of incorporation.

5-A letter of confirmation from the circle of the register of companies directed to the bank of Kurdistan.

6-the company’s basic budget for the year concerned with opening the account.

7-all the companies’ papers must be new and certified by the register of companies.

8-bring a patent clearance from the tax department.

9- Attendance of the authorized director and his supporting documents.

(If you are a foreign national or Arab) required documents (passport, residence permit, passport number, passport number, profile number2)

-If there is more than one authorized account (with the withdrawal or other banking transactions) a letter of proof will be presented to the authorized persons, the withdrawal will be determined (either signed or signed), signed by the company and signed by the authored director,

(Identity of civil status phosphorus triangle, certificate of nationality phosphor triangle or national card, passport, photo number2, information card and residence, company seal) to the Authorize and attend to sign.

-minimum balance when opening an account (first deposit)

-$250, 300000dinars, or200euros, or 200pounds.

11-cost of account opening models for forging companies (id25000, usd25, eur25, gbp25)

If the foreign companies cost the opening account forms (id50000, usd40, eur40, gbp40)

-issuance of bank checks: the bank also provides a bank check service (usually called bills, because the drawer in this case is the person withdrawn on it), and these bills regulated at the request of the customer who has a current account or provide or has no account with the bank, and progress these branches are for the benefit of governmental or non-governmental entities for the purpose of payment of dues, fees, services advances are also reflected in the banks obligations.

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