Banks may open bank accounts for homeowners’ associations/housing societies upon obtaining the following:
1.
A letter from the real estate manager requesting the opening of the account, including the names of those authorized to manage and operate the account, certified by the chairman of the association/society.
2.
A copy of the articles of association of the association/society.
3.
A copy of the association/society registration certificate issued by the Real Estate General Authority.
4.
Copies of the IDs of persons authorized to manage and operate the account.
