Open Arab African International Bank Account in UAE

Arab African International Bank (AAIB) is an international financial institution established in 1964 with the support of the Central Bank of Egypt and the Kuwait Investment Authority. It is one of the region’s leading banks, catering to both private and corporate clients.

• Over 50 years of operation, with branches in the UAE, Egypt, and Lebanon
• Part of AAIB Financial Group (leasing, asset management, securities, mortgage, microfinance).
• Over USD 18 billion in assets under management.
• Committed to sustainable development and ESG principles; a participant in the UN Global Compact since 2005

AAIB Bank Financial Services & Online Banking

• Retail Banking,
• Corporate Banking,
• Transactional Banking,
• Investment Banking.

Corporate Account Types and Minimum Required Balance

• Standard personal and corporate accounts (current, savings, investment). Minimum Average Monthly Balance: from AED 30 000 (approx. USD 8 250);
• Priority Banking (Golden Account) – available to Egyptian nationals only. Minimum Average Monthly Balance: from AED 100 000 to AED 1 000 000.

Account Management Methods: Internet banking (English only); In-branch service (personal presence required).

Languages of Communication: English, Arabic.

Bank Cards: VISA, Mastercard. Bank cards can only be collected in person at the branch (no delivery available).

Opened simultaneously during account setup (subject to banker’s approval) – only AED cards are issued.

Account Currencies: AED, USD, EUR, GBP, CHF.

• Accounts are opened only for local entities: LLCs, Free Zone Companies, and offshore companies registered in the UAE, as well as personal accounts for UAE residents.
• No accounts are opened for companies or citizens from Russia, Sudan, Iran, Syria, Cuba, Venezuela, or North Korea.
• No accounts for international offshore companies.
• The bank does not serve companies involved in trading of gold, gas, oil, or real estate, or those operating in the gambling or adult entertainment sectors.
• No transfers to or from Russia.
• Personal visit by the shareholder and account signatory is mandatory

Documents Required to Open Corporate Account

Required documents for account opening:

1. Incorporation documents of a UAE-registered company.
2. Original passport of the shareholder/account signatory.
3. For UAE onshore companies: copy of UAE residence visa + Emirates ID.
4. For UAE IBCs: passport page with UAE entry stamp.
5. Proof of residential address of the account signatory (e.g., utility bill in English (green DEWA bill) issued within the last 3 months; recent bank reference, UAE tenancy contract, or UAE property ownership document).
6. Detailed CV of the account signatory (in English).
7. Corporate documents of a home-country company with a similar business activity (minimum 10% ownership); extract from commercial register translated into English by a certified translator with official stamp of the translation agency.
8. Corporate bank statement of the home-country company for the last 6 months (as source of funds, in English), including transaction details and daily balance activity.
9. Personal bank statement of the shareholder for the last 6 months (in English).
10. Source of wealth explanation and documentation (e.g., dividends, salary, loan proceeds, asset sale). Applies to personal account statements. They must include information on how the capital was accumulated. This information must be supported by appropriate documentation.
11. Completed bank account application form.
12. If the shareholder is a legal entity: fully legalized company documents through UAE Ministry of Foreign Affairs, including:
    – Certificate of Incorporation
    – Articles of Association
    – Shareholder Certificate
    Good Standing Certificate (if company is older than 1 year)
13. If the company is owned by a legal entity, full ownership information must be provided/disclosed up to the ultimate beneficial owner (UBO).
14. Copies of contracts and invoices from at least 3 suppliers and 3 clients of the shareholder’s home-country company, including addresses, emails, and websites.

Note for items 8 and 9:

• If the bank statement is not issued in English, a certified translation must be provided.
• If the statement is obtained directly from the bank, it must bear the bank’s original ink stamp.
• If the statement is downloaded from online banking, it must be in PDF format and contain system-generated confirmation on each page (e.g., “This is a system generated document / URL…”)