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Effective from Jan 31 2025 - Jan 30 2025 To view other versions open the versions tab on the right
The bank may open accounts for national societies and committees, such as the National Society for Human Rights and the National Prevention of Blindness Committee, upon completing the following:
1.
Receiving a request from the chairman of the society/committee for opening a bank account.
2.
Obtaining a copy of the royal approval or the resolution of the Council of Ministers, allowing the society or committee to exercise its activities.
3.
Obtaining a copy of the articles of association of the society/committee.
4.
Obtaining a copy of the society’s/committee’s regulations governing its financial affairs.
5.
Obtaining copies of the IDs of society’s/committee’s executive council members.
6.
The names of authorized signatories shall be determined by the chairman of the society/committee. The bank shall obtain copies of those signatories’ IDs and their specimen signatures. Such copies shall be attested as true copies of the original by both the society/committee and the bank. Changing the authorized signatories requires sending a letter from the chairman of the society/committee to the bank where the account is opened.
7.
Withdrawal from these accounts shall be as per dual control, and in case of withdrawal by checks, check shall be payable to the first beneficiary.
