Qarz – Al – Hasanah Checking Account

Opening Account

Checking account is a kind of Qarz – Al – Hasanah deposit . By signing a check , the account holder can issue payment order for the whole or some of their deposit to be paid to the check bearer or a specified person.

Types of checking accounts:

1 . Checking account for Iranian natural persons.

2 . Checking account for foreign natural persons.

3 . Joint checking account.

4 . Checking account for Iranian legal persons.

5 . Checking account for companies about to be established.

6 . Checking account for foreign legal persons.

7 . Checking account for institutes.

Depositing to checking account is possible through three ways:

1 . In cash

2 . By transfer

3 . By cleared checks

Terms and conditions for opening checking account for Iranian natural persons:

1 . The applicant should at least be 18 years old (also s / he should be major and wise)

2 . The applicant should be literate.

3 . At least one person having account in the bank or known by the branch manager should introduce the applicant for opening account.

4 . According to inquiry from central bank of I.R.I. the applicant should not be restricted for opening a checking account.

5 . Presenting a reliable ID card and a copy of the first page of ID card .

6 . Filling in and signing the specimen signature card.

Opening checking account for blind, illiterate , and disabled people (with deficiency in two hands):

In cases that according to related regulations , the bank agrees to open a checking account for the above mentioned people , it is necessary that in the time of opening account, the applicant's seal (blind , illiterate , or disabled person) and the signature of the trustee person who is authorized to sign checks on behalf of the applicant are both introduced to the bank. In this case the issued checks should bear the account holder's seal as well as the trustee's signature matching the specimen signature. 

Terms and conditions for opening checking account for Iranian legal persons:

1 . According to inquiry from central bank of I.R.I. the applicant should not be restricted for opening a checking account.

2 . Presenting a certified copy of the charter or memorandum of association.

3 . Presenting a copy of the first announcement of the company registration and a copy of the last changes announcement of the company in official journal including the following information:

a. information about the board members and executive board members.

b. information about the authorized signatories, specifying the name of persons having the right to withdraw funds from the company accounts.

c. Term and area of authorization of board members and managing director.