When one wants to open an account with a bank one has to make an application on a printed form. For opening a current account the bank will also require introduction by someone know to the bank. In the case of a partnership, a copy of the partnership deed will have to be attache to the application. Specimen signatures of the person authorized to operate the account must also be submitted. If a company wishes to open an account the following have to be submitted:
Image Source: cdn.livingindubai.org/wp-content/uploads/2014/12/bank_account.jpg
- A certified copy of the resolution of the Board of Directors for opening the account.
- A copy of the Certificate of Incorporation and the Certificate for commencement of Business. The latter is required only for public companies.
- A copy of the Memorandum of Association and the Articles of Association.
- Specimen signature of the persons authorized to operate the account.
If some society or club wishes to open an account, it must submit a copy of the certificate showing its registration, a copy of its bylaws, a copy of the relevant resolution of the magazine committee and specimen signatures of the persons who will operate the account.