Effective from Jan 01 2024 - Jul 02 2019 To view other versions open the versions tab on the right
The bank may open accounts for these resident foreign schools upon completing the following:
1.
Receiving a letter from the board chairman or school principal, containing a request to open a bank account and the names of the account’s authorized signatories (a joint signature), along with copies of their IDs attached.
2.
Receiving the approval of the Ministry of Education for opening the bank account and for the authorized signatories.
3.
Obtaining a copy of the school’s license that is issued by the Ministry of Education.
4.
Receiving a copy of the decision of forming the school board, approved by the Ministry of Education, and copies of members' Iqamas.
5.
The account shall be valid for a period identical to the validity period of school license and the term specified for the school board as per its formation decision approved by the Ministry of Education.
