Frequently Asked Questions
11. How can I open a current account for my sole proprietorship, and what documents are required?
Please visit one of our bank branches with the following documents:
A valid copy of the commercial registration.
The original personal identification card (valid electronic ID) of the owner.
For foreign residents: a copy of the passport, a copy of the residency permit, and proof of employer
22. How can I open a current account for my company, and what documents are required?
Please visit one of our bank branches with the following documents:
A notarized copy of the Articles of Incorporation from the relevant authorities.
A copy of the company’s establishment resolution.
A copy of the latest approved version of the company’s bylaws from the relevant authorities.
A Board of Directors resolution requesting to open the account and specifying the authorized signatories and their powers.
The original personal identification cards (valid electronic IDs) of the owner and authorized signatories.
Completed bank account opening forms provided by the bank.
The minimum required balance to open a current account is 300,000 Iraqi Dinars or the equivalent in other currencies.
The account can be opened in local currency or any of the approved foreign currencies.
33. Can I receive transaction alerts for my company's account on my mobile phone?
Yes, you can track the latest banking transactions on your account by receiving SMS alerts for all transactions, 24/7, wherever you are.
44. What is the minimum balance
required to open a company current account?
The minimum balance required is 300,000 Iraqi Dinars or its equivalent in other approved foreign currencies.
55. Can I get a checkbook for my company’s current account?
Yes, but an official request must be submitted by the authorized signatories to obtain a checkbook.
66. When does an account become inactive, and how can it be reactivated?
If there is no activity (deposit or withdrawal) on the account for more than 6 months, the account will be frozen and considered inactive.
To reactivate the account:
Please visit the nearest bank branch or office.
Fill out the required reactivation form.