Emirates Islamic Bank (EIB) was established in 2004 to ensure the highest standards in the provision of banking services for both private clients as well as for small and large businesses.
Every client of the bank is his partner above all. The bank is considered as an innovator in the launch of Internet banking and one of the first who launched a mobile banking platform in the Emirates.
OPEN AN ACCOUNT IN EMIRATES ISLAMIC BANK (EIB)
The minimum average monthly balance of accounts depending on the selected corporate tariff package:
- Gold package – from 100 000 AED (27 500 USD) to 250 000 AED (68 500 USD);
- Platinum package – from 250 000 AED (68 500 USD).
UAE: Abu Dhabi, Dubai, Sharjah, Ajman, Ras al-Khaimah.
The main office of the bank is located in Dubai.
Internet banking.
Cost of Internet banking service – 200 AED (55 USD) per month.
Digi Pass – 200 AED (55 USD) per one device.
Gold corporate package (if the average monthly balance on the company's accounts from 100 000 AED (27 500 USD) to 250 000 AED (68 500 USD)):
- up to 20 transactions per month – free of charge, for every next transaction – 5 АЕD (1,5 USD).
Platinum corporate package (if the average monthly balance on the company's accounts from 250 000 AED (68 500 USD)):
- transactions cost – free of charge.
If the average monthly balance on the company's accounts is less than the specified size (according to the selected tariff package), the bank will charge a penalty «for not maintaining the average monthly balance on the account»:
- on the package Gold – 250 АЕD (70 USD);
- on the package Platinum – 500 АЕD (140 USD).
Telegraphic transfers:
- incoming – free of charge;
- outgoing in local currency – 30 AED (8 USD), in foreign currency – 45 AED (12 USD).
The procedure of opening the account starts with the preliminary stage, which includes the process of gathering and submitting documents required for opening an account. Term of the preliminary stage will depend precisely on you.
The decision to open an account is made within 14 working days from the moment a full set of documents is submitted to the bank.
EIB follows the «know your client» principle and at any stage of the account opening procedure you may be requested to provide any additional information or documents concerning the procedure of opening the account that may take additional time, as well as refusing of account opening without reasons explanation.
English/Arabic/Farsi speaking.
Visa, MasterCard.
All banking services.
Forms for signing are provided at the bank office in the UAE during a personal meeting of the account holder with the personal bank manager.
Documents for the company and shareholder:
- statutory documents of the company;
- original of foreign passport;
- utility bill in English from the place of residence no older than 2 months (to prove the place of residence);
- extract from the bank account for the last 2 months;
- CV of the shareholder who will manage the account;
- business plan of the company;
- resolution of directors (if necessary).
If the shareholder of the company is legal entity:
- statutory documents of the company;
- corporate documents of the parent company (must be certified by the Ministry of Foreign Affairs of the UAE);
- original of foreign passport (if there is – a resident visa);
- resolution of directors (if necessary);
- extract from the bank account of the parent company for the last 3 months;
- utility bill in English from the place of residence no older than 2 months (to prove the place of residence);
- CV of all shareholders, directors and account holders;
- business plan of the company (description of activities, regions of work, partners, clients, annual turnover of the company).
To start the procedure you submit a full set of documents of the company and documents for shareholder. Scan copies of all documents are sent to the bank for consideration and decision making on the possibility of opening an account, after which the shareholder must personally come to the bank office in the UAE to sign bank forms. After making a positive decision to open an account, the bank sends the account requisites for the initial payment and activates the account.
For further consultation concerning the terms of account opening in Emirates Islamic Bank (UAE) please contact our office. We will respond to any questions you may have and will help you open an account in Emirates Islamic Bank or any other bank out of 70 foreign banks you may choose from.
