Currency

Current Account can be opened in BHD only.

Eligibility

Individuals above the age of 21 (of all nationalities), legal entities such as firms, companies, trusts, clubs, associations, societies etc. are eligible to open current account. Minors are not eligible open current account.

Minimum Balance

Minimum monthly average balance of BD 200.000 is required to be maintained for Individual Current Account Holder. A penal charge of BD 5.000 per month plus applicable VAT will be levied if the minimum monthly average balance in the account falls below BD 200.000.
Minimum monthly average balance of BD 500.000 is required to be maintained for Corporate Current Account Holder. A penal charge of BD 10.000 per month plus applicable VAT will be levied if the minimum monthly average balance in the account falls below BD 500.000.

Rate of Interest

No interest shall be payable on the account

Joint Accounts

As per legal mandate/MOA/AOF and CR of the firm, current Account shall be opened.

Guarantee Cover

Cover under the Deposit Protection Scheme of the Central Bank of Bahrain will be available for ‘eligible deposits’.

Jurisdiction

Only the courts in Bahrain shall have jurisdiction in respect of all matters of dispute pertaining to deposits under the scheme.

Governing Law

The scheme shall be governed by and construed in accordance with the law of Bahrain

Cheque Book Facility

Cheque books will be issued in current accounts of legal entities.

ATM Cards

No ATM cards will be issued for current Account. 

Internet Banking

Current Account shall be eligible for Internet Banking facility

Remittance of funds

Remittance facility will be available at a very competitive exchnage rates vide online Banking platform (in INR) up to BHD 5000.000 and at the Branch for any amount.