Starting next October

Banks return the minimum opening for a corporate account and fees for pre-Corona

The first type of bank account requires a minimum of 10,000 dirhams.

Emirates today

Starting next October, banks will begin returning the minimum balance required to open a corporate account, as well as the fees imposed in case the balance is less than the required amount, as was the case before the spread of the new Corona virus (Covid-19), and the repercussions that followed.

According to data obtained by Emirates Today, as of October 1, 2020, the minimum required to open the first type of corporate bank account becomes 10,000 dirhams, and if the balance is less than that, banks impose a monthly fee of 150 dirhams.

As for the second type of bank accounts, a minimum balance of 50 thousand dirhams is required, and if the balance decreases, a monthly fee of 200 dirhams is imposed, while the third type of corporate accounts are opened with a limit of 100 thousand dirhams, which requires a fee of 300 dirhams per month, if less About that.

In April 2020, the Central Bank required all banks to open accounts for dealers of small and medium enterprises within a maximum period of two days, and not to impose a minimum balance of the account of small and medium-sized enterprises' clients exceeding 10 thousand dirhams, so that institutions can continue to practice their commercial business.

The latest data issued by the Central Banker indicates that the second quarter of this year witnessed an increase in the number of bank accounts opened for small companies, as the total bank accounts for small enterprises reached 63 thousand and 147 accounts, an increase of 2,637 bank accounts compared to the first quarter of the same year. .

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