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500.1.2.1 Bank Accounts of Government Entities, Designated for Activities and Services Financed Through Sources Other Than the State Budget
No: 65681/67
Date(g): 3/7/2019 | Date(h): 1/11/1440
Status: In-Force
The bank may open separate accounts for academic and specialized government entities (e.g. universities, institutes and research centers) for the purposes of research works, studies, consultation, specialized services and the like that are funded by beneficiaries (not through the state budget). The following requirements shall be met:
1.
The bank shall receive a request from the rector/head of the entity (university, institute, scientific center, and the like) to open an account; such request shall indicate that the account is designated for an activity to be funded through sources other than the state budget.
2.
The government entity shall specify the purpose of the account and, if possible, the reasons supporting being contracted with or assigned to carry out advisory or technical tasks.
3.
The name of the account shall reflect its purpose.
4.
Signatories shall be determined by the government entity’s rector/head. The bank shall obtain IDs copies and specimen signatures of such authorized persons. Those copies shall be attested as true copies of the original
5.
by both the government entity and the bank. Changing the signatories requires sending a letter from the entity’s rector/head to the bank where the account is opened.
6.
The bank shall obtain a copy of the government entity’s regulations governing the financial affairs of the financed activity (university, institute ...).
7.
The account shall be opened for the duration of the project or for a period of one year where the duration is not defined. The validity of the account may be extended for another period/additional periods by a letter from the rector/head of the entity to the bank, requesting an extension and including supporting reasons.
