Company Details Form - C - BMI

BMI Bank B.S.C.(c.), Bahrain World Trade Center, 

P.O. Box 350, Manama, Kingdom of Bahrain 

T +973 17 508080 

F +973 17 226641 

Company Details Form - C 

When completing the application, please: 

• Tick boxes as applicable 

• Complete all sections of the application form 

• Complete the form in block capitals when filling in the form in English 

• Counter sign all changes / corrections made 

SECTION 1: Company Details 

Legal status Sole proprietorship Single person company Partnership Public/Listed company 

Private company Trust/Society/Charity Other (please specify) _____________________________ 

Full name of entity 

Name of parent company 

Country of incorporation 

CR number 

Nature of business 

Date of incorporation 

Expiry date of CR 

SIC code (Standard industrial classificiation) 

SECTION 2: Contact Details 

Registered address 

City 

Country 

P.O. Box 

Mailing address (if different) 

City 

Country 

Trading address (if different) 

Telephone number 1 Telephone number 2 

Fax number 

Website address ______________________________________________ 

Contact person 

Name 

Mobile Number 

Fax number 

E-mail ID 

SECTION 3: Additional Details 

Regulatory body 

Name of external auditors 

Authorised capital 

Issued capital 

Annual turnover 

Customer being dissolved Customer being wound up Company being struck off Customer being terminated None 

BMIBANK/BH/CORP/CRF1/08-03-11 

Licensed and regulated as a conventional Retail Bank by the Central Bank of Bahrain 

bmibank.com.bh

Proprietor/Partners/Shareholders (If more than 20%) information (please provide constitutional documentation): 

Name 

(as per passport/CPR) 

CR number CPR/Passport number Country of residence Nationality 

Directors information: 

Name (as per passport/CPR) Country of residence Nationality 

SECTION 4: Services Required 

ATM/Debit card Treasury Trade finance/GTS Sweeping service Internet banking 

Delivery instruction Registered address Mailing address 


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T +973 17 508080 

F +973 17 226641 

Account Details Form - C 

Please note: A current account in BHD is mandatory for customers opening a liability account as part of the financing process. 

If you require a BMI Bank liability account, please complete all sections. 

SECTION 1- Account Details 

Type of account Current Savings Term deposit Call deposit Super current account 

Ayadi Visa Diners club Prestige Non-checking account 

Please provide details of the term deposits on the seperate term deposits form 

Account number 

Currency Bahrain dinars US dollars Euro Other 

Purpose of account 

Initial deposit amount Mode of payment Cash Cheque Fund transfer Other ______ 

Cheque book required Yes No 

SECTION 2: Additional Details 

Source of funds Salary Business If others, please specify ––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– 

Anticipated volume of monthly transactions 

Debit amount Mode Cash Cheque Fund transfer Other 

Credit amount Mode Cash Cheque Fund transfer Other 

Frequency of bank statements Daily Weekly Monthly Quarterly 

Delivery instruction Registered address Mailing address 

For charities, do you have another account with a different bank in Bahrain Yes No 

SECTION 3: Declaration for BMI Liability Account 

The details provided in these forms are true to the best of my/our knowledge and ability. The general terms and conditions and the tariff and commission schedule 

that apply, have been read and understood and I/we expressly agree to abide by them and any new terms and conditions that may come into effect from time to 

time as advised by the Bank, by mail to my/our last recorded address and/or displayed conspiculously on the Bank´s premises. 

I/we undertake to regularly provide the bank with renewed/updated documents that need to be provided to keep the relationship regularized. 

Signature –––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– 



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SECTION 4: Authorized Signatories 

For joint accounts, please confirm the preferred operating mode: 

Any one 

Any two 

Name CPR/Passport Nationality Date Signature Remarks 

Account introduced by: 

Signature ______________________________ 

Branch 

In case the customer is not introduced by an existing customer, branch manager’s approval must be obtained. 


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T +973 17 508080 

F +973 17 226641 

Document Requirements – C 

• This form should be completed by non-individual customers initiating a relationship with BMI Bank. 

• In order to process this application the following, as relevant, must be provided with the completed form. Inadequate supporting documentation could result in 

the process being delayed. 

• If original documents are sighted, bank officer must certify the copy stating, “Original Seen”. This must be signed, dated and the name of the officer provided. If 

copies are given, they have to be certified by: a Lawyer, a Notary, a Chartered Accountant, an Official of a Government Ministry, an Official of an Embassy, or an 

Official of a Licenced Financial Institution. 

SECTION 1: Supporting Documents (required for opening a BMI Bank account:) 

Sole Proprietorship/Single Person Company 

Identification documents (must include a clear photograph) 

Passport (with valid Residence Permit for expatriates only) Central Population Register (CPR) Drivers’ Licence 

Commercial Registration (CR) 

Authorization letter 

Proof of address (if physical address does not match ID or is not shown) 

Latest business bank statements (last 3 months) 

Partnerships 

Partnership Agreement 

Identification documents of the partners 

Partnership registration documents 

List of authorized signatories and identification documents 

Copy of latest financial statements 

Public/Private/WLL Companies 

Copy of Commercial Registration (CR) or Incorporation Certificate* 

Articles of Association 

Identification documents for authorized signatories 

Board resolution authorizing operation of the account 

List of shareholders with 20% of issued capital and 

Identification/constitutional documents 

Memorandum of Association 

Passport and CPR copies for Directors 

Copy of latest financial statements 

Board resolution appointing signatories. For banks, Original 

authorized signatory list is acceptable 

* If older than 1 year please present a Certificate of Good Standing or a receipt of License Renewal. 

Trusts 

Trust deed 

Identification documents of the settler and Trustee 

Copy of latest financial statements (audited where possible) 

Trust registration documents 

Clear authority from the Settler to the Trustee to operate 

the account 

Charities/Societies (provide the following documents in addition to the above requirements, depending on the type of entity) 

Certification of authorization from Ministry 

List of authorized signatories 


Written confirmation of GOYS registration 


bmibank.com.bh



T +973 17 508080 

F +973 17 226641 

Politically Exposed Persons (PEP) Details Form 

For Retail customer 

PEP: ’Politically exposed persons’ means individuals who are, or have been, entrusted with prominent public functions in Bahrain - or a foreign country, such as 

Heads of State or government, senior politicians, senior government, judicial or military officials, senior executives of state owned corporations or important 

political party officials. Bahraini PEPs would include all ministers, all MPs, and all ministry officials with the rank of Undersecretary or above. 

1. Is the customer a politically exposed person 

Yes 

No 

Position title/Description 

2. Is the customer related to a PEP 

Yes 

No 

Any person who is a member of the immediate family of a PEP (e.g. parent, brother, sister, son, daughter, father-in-law, mother-in-law; 

or a senior advisor or other person known to be closely associated with a PEP) 

Position title/Description of PEP 

For Corporate customer 

1. Is anyone of the directors, shareholders (holding more than 20% stake individually), proprietor or partners a politically exposed person 

Yes 

No 

Other Details 

Directorship 

Shareholdings 

Business ownerships 

Other sources of income 

____________________________________________________________________________________ 

____________________________________________________________________________________ 

____________________________________________________________________________________ 

____________________________________________________________________________________ 

Declaration 

Customer service agent 

Date 

X 

Signature 

Head of business name 

Date 

X 

Signature 

Copy of a PEP customer’s completed application form should be sent to the compliance department.



T +973 17 508080 

F +973 17 226641 

For Bank Use Only - C (to be completed by BMI Bank staff) 

KYC Review 

Confirm having met customer in person Original documents seen, copies made OR Certified documents seen, copies made 

Risk Classification 

Standard Enhanced Due Diligence Simplified 

Reason 

Reason 

Standard: 

Enhanced: 

Simplified: 

For all customers other than those mentioned below. 

For Business from Societies, Charieties, Clubs and and PEP related. Approval from Head of Business is required. A copy must be sent to Compliance. 

For Banks, Governments, Semi Governments, CBB, BSE Listed Companies, ministry of a Gulf Cooperation Council (GCC) or Financial Action Task Force (FATF). 

Reference Check 

With Whom 

Database/Directory Search 

Trust Details 

Name of Trustee 

Name of Settler 

Name of Beneficaries/ 

Unit Holder 

Type of Trust Discretionary Unit Family Pension Charitable Mutual Fund 

Anticipated Transcation With 

Countries 

Organization 

Customer Relationship Form And Supporting Documents Checked By 

Officer Name Signature _________________ Date 

Account Authorized By Signature _________________ Date 

System Input By Signature _________________ Date 

Authorized By Signature _________________ Date 

Account Number 

Risk Country 

KYC Review History (to be performed every 3 years) 

Year 1 

Confirm having met Customer in person Original documents seen, copies made OR Certified documents seen, copies made 


Date 


Reason 

Reason 

Year 2 



Date 


Reason 

Reason 

Year 3 




Date 


Reason 

Reason 


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T +973 17 508080 

F +973 17 226641 

Terms and Conditions 

Serial No. 

GENERAL TERMS AND CONDITIONS GOVERNING OPERATION OF ACCOUNTS WITH BMI Bank B.S.C. (c) 

These general terms and conditions govern all transactions between BMI Bank and the account holder. There may be specific product/service related terms 

and conditions which will apply, if the customer avails the product or service, in addition to these terms and conditions. 

1. Definitions 

a. “Account holder” means the person/s in whose name(s) the account is held. 

b. “Account” means the account/s opened or to be opened in future as mutually agreed or as required from time to time as per BMI Bank’s accounting 

and internal processes/regulation. 

c. “Authorized Signatory”, in case of individual accounts and joint accounts means signatory to the document and in case of non-individuals, means 

persons duly authorised by such non-individual entity by way of a Board resolution in case of companies or partnership deed in case of partnerships, 

Copy of resolution of a committee in case of clubs and associations or any other applicable document as BMI Bank may request. 

d. “Place of Business” means BMI Bank’s head office or any of its branches in the Kingdom of Bahrain. 

2. Deposits and withdrawals 

(a) Account holder may withdraw cash in person against BMI Bank cheques or withdrawal voucher. Third party withdrawals can be made only against 

BMI Bank cheques. Withdrawal by any other means may be allowed at the sole discretion of BMI Bank. 

(b) BMI Bank shall, without enquiry, honour any cheques or other orders for the payment of money and shall debit the amounts payable as 

a result thereof to the account, whether the account is in credit or overdrawn or may become overdrawn as a result, without prejudice to 

BMI Bank’s right to refuse to honour such payments in the event of the account becoming overdrawn or an existing overdraft in the account being 

increased. 

(c) Any indebtedness or liability on part of the account holder to BMI Bank must, unless otherwise agreed in writing, be settled on demand from BMI 

Bank. 

(d) BMI Bank may, at any time, refuse to accept a deposit, or limit the amount of any deposit, without assigning any reason. 

3. Cheque books, cheques/instruments deposited for collection and unpaid cheques 

(a) Issuance of cheque books shall be at the sole discretion of BMI Bank and for account types as decided by BMI Bank. 

(b) BMI Bank is not liable in case of cheques dishonoured due to insufficient balance in the account. BMI Bank shall not be liable or responsible for failure 

to give notice of non-payment or dishonour of any cheque, or for any claims, losses or expenses which may arise as a result of dishonoured cheque. 

(c) BMI Bank, at its discretion, may honour cheques in case of insufficient balance, causing the account to go in overdraft, it will be the account holder’s 

responsibility to regularize the account. 

(d) Acting as the account holder’s collection agent, BMI Bank may agree to accept, but without assuming any responsibility for their realization, 

cheques, drafts and other similar payment instruments for deposit, provided they are made out in form and substance acceptable to 

BMI Bank, in favour of the account holder or endorsed to their order. 

(e) BMI Bank shall collect cheques and other instruments deposited for collection, directly or indirectly or through any agents at the entire risk and 

responsibility of the account holder. 

(f) Cheques crossed as account payee only will be deposited only to such specific account. 

(g) BMI Bank reserves the right to decline deposit of pay order or cheques with single or multiple endorsements. 

(h) Save for a manifest error, BMI Bank or its agents shall not be held liable for the loss, mutilation or dishonour of a cheque or other instrument or for the 

failure to credit, late presentation, and granting time, any delay in crediting the account or non-payment and return of cheques or other instruments 

or for non-compliance with the account holder’s instructions. 

(i) BMI Bank reserves the right to debit any account or demand payment from the account holder for any amounts exceptionally credited or credited 

under reserve which are subsequently unpaid. 

(j) Any discounting of third-party cheques or cheque purchase if made is done with full recourse to the account holder. BMI Bank reserves the right to 

debit the account with the amount of any cheque which was drawn or endorsed in favour of the account holder (whether or not the cheque is drawn 

on BMI Bank, its branches, affiliates, subsidiaries) that has been credited to the account and is subsequently unpaid, whether or not the cheque itself 

can be returned. 

(k) Reference in any statement of account to a value date for a cheque deposited for collection shall not be interpreted as a representation of that date 

at all, unless or until such proceeds are actually collected by BMI Bank. 

(l) In case of abuser of cheque, BMI Bank shall follow the guidelines issued by the Central Bank of Bahrain from time to time. 

(m) A cheque shall be effective for six months from the date of its receipt by BMI Bank or the date of the cheque, whichever is earlier. 

(n) The account holder waives the right of protest of any negotiable instrument to which the account holder is a party, acquired or held by 

BMI Bank or received by it for credit, collection or otherwise. 

4. Stop payments 

(a) “Stop Payment Orders” (instructions given to BMI Bank by the account holder not to honour a cheque or any other payment instruction) shall only 

be accepted by BMI Bank if given in writing and only in the event of the loss or theft, or the bankruptcy of the holder of such instrument. Where a 

stop payment order arises as a result of the loss or theft of a blank cheque or a cheque book, BMI Bank shall have the right to require the account 

holder to close the account and open a new one. 

(b) BMI Bank shall not be held liable for its failure to act on a stop payment order whether such failure be due to error, inadvertence, oversight or any 

other reason whatsoever. 

(c) All costs, claims, and expenses arising from the non-payment of such cheques, instruments shall be borne by the account holder and will be debited 

to his account. 

5. Foreign currency 

(a) Deposits in foreign currency may be accepted by BMI Bank at its sole discretion. 

(b) Withdrawal in foreign currency notes shall be subject to their availability. 

(c) In the absence of specific written instructions, inward remittances can be credited to any account of the customer. 

6. Interest 

(a) Overdraft – Interest on authorized overdrafts shall be calculated at the contracted rate and interest on unauthorized overdrafts shall be calculated 

at a rate decided by BMI Bank. Such interest shall be debited to the account on monthly basis and shall become an integral part of the indebtedness 

of the account holder to BMI Bank. 

(b) Current/savings/Ayadi account – Interest, if any, on current/saving /Ayadi accounts shall be computed at a rate decided by BMI Bank from time to 

time, and will be credited to the account at a frequency as decided by BMI Bank. 


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(c) Time Deposit - Interest on time deposits shall be paid by BMI Bank at the contracted rate and credited to the account on maturity or at a frequency 

as agreed between the account holder and BMI Bank. Customer may instruct BMI Bank to automatically roll over the time deposit, in such a case the 

interest on the new contract will be as decided by BMI Bank. A time deposit may be withdrawn prematurely only at the sole discretion of BMI Bank, 

and shall be subject to a penalty as decided by BMI Bank. 

(d) Call Deposit - Call deposit interest rate, as determined by BMI Bank from time to time, shall be calculated on the daily credit balances above the 

minimum amount stipulated, and credited monthly or quarterly, at the discretion of BMI Bank. 

(e) BMI Bank reserves the right to change interest rates without reference to the account holder. Interest rate changes will be displayed on the notice 

board at BMI Bank premises. 

7. Ayadi account 

(a) There is no limit as to the number of entries in to the draw. 

(b) Draw entries are equivalent to minimum balance of multiple of BD 50. 

(c) In case a deposit is made by cheque, the eligibility date will be the date the cheque is cleared. 

(d) Draw eligibility, frequency of draw and draw dates shall be displayed on the Bank’s website at all times. 

(e) Each draw is independent of the previous draw hence an account drawn as the winner in one draw will be eligible for the subsequent draws as well. 

(f) All draws shall be held under the supervision of the Bank’s Internal and External Auditors, and Ministry of Commerce. The draw result is final and the 

customer shall not contest it. 

(g) Prizes will only be credited to customer account maintained with the Bank. 

(h) No interest is payable on Ayadi account balances. 

(i) The Bank reserves the right to use winners’ name and/or photographs for promotional and/or marketing purposes. 

(j) The Bank shall not issue cheque book or ATM card in relation to this account. 

(k) The Bank reserves the right to change the frequency of draw, eligibility criteria, prizes and prize structure any time at its absolute discretion. The 

Bank will notify the customer about the changes through such channels as deemed appropriate by the Bank. 

(l) This account can be opened by individuals of all nationalities above the age of 21 years and non - individuals with the exception being that all the 

Bank’s employees, directors and their immediate family member are not allowed to open account and in case of non- individuals, Bank’s subsidiaries 

will not be allowed to participate. 

(m) Ayadi Student Account can be opened by students of all nationalities resident in Bahrain between the ages of 6 and 21. Students between the ages 

of 18-21 must provide a copy of their student ID, current course schedule, current semester payment or any other evidence of being a student 

acceptable to the Bank. In addition to the above, in case of non-nationals, a valid Bahrain resident permit must be provided at the time of opening the 

Ayadi Student Account as well as in the case of claiming the draw. For students below the age of 18, the Bank’s requirements on minor’s accounts 

will apply. 

8. Minor’s account 

(a) Accounts maintained for minors shall be operated by a parent or legally appointed guardian until the minor attains the age of 21. 

(b) All the monies standing to the credit of such accounts shall be held for the benefit of the minor and shall not form part of the assets of the operator 

of the account. 

(c) The operator of the account shall promptly inform BMI Bank on the minor reaching the age of 21, after which the minor will be entitled to operate 

the account. 

(d) The Bank may at its sole discretion open savings accounts for minors between the age of 18 and 21 years, in their own names without the 

requirement of a guardian, provided such a minor submits a proof of employment and any other documents as the Bank may require. 

9. Joint account 

(a) In case of joint accounts, BMI Bank shall rely on the operating mandate as per the instructions given by the account holder and reserves the right to 

reject any instructions to the contrary. 

(b) Any overdraft, loans or other obligations incurred on the account or otherwise shall be the joint and several liability of each and every individual 

constituting the account holder. 

(c) In the event of the death of any of the individuals constituting the account holder, the surviving individuals shall undertake to notify BMI Bank of the 

death within 10 days from the date thereof, whereupon BMI Bank shall stop any drawing from the account until the legal successors of the deceased 

appoint their representative in accordance with the personal law of the deceased. In the case of a Muslim resident in the Kingdom of Bahrain, the 

disposition of any credit balance, security or property available to the account and remaining unencumbered shall be governed by and carried on in 

accordance with the order of the competent Sharia Court. 

(d) BMI Bank is not liable or responsible for honouring instructions that contravene the operating mandate. 

10. Dormant account 

a) A current or savings or call deposit account will become dormant if there are no account holder originated transactions for 12 months. In such a case 

the account shall be blocked for account holder or a third party originated transactions, such as, but not limited to, cheque debit/credit, inward/ 

outward remittance, etc. BMI Bank may also decide to withdraw/restrict services such as ATM access, net banking, SMS banking, etc. for dormant 

accounts. BMI Bank shall not be liable or responsible for any loss to the account holder in such a scenario. 

b) BMI Bank shall make every reasonable effort to inform the account holders of dormant accounts with a view to ascertaining the wishes of the 

account holder vis-à-vis continuation/closure of account and having the account reactivated. 

c) If an account holder wishes to regularise his dormant account he will need to submit the required forms and complete the necessary formalities 

including providing the required identification documents. Regularizing a dormant account is at the sole discretion of BMI Bank. 

d) If a dormant account has debit balance or goes into debit balance due to levying of charges etc. BMI Bank may decide to close the account 

without any liability to account holder whatsoever. In such a case account holder shall continue to be liable for the moneys he owes to 

BMI Bank. If a dormant account has credit balance, the bank will not close the account but will levy applicable charges (like minimum balance non 

maintenance, etc) periodically. 

e) No statement of account will be issued in relation to such accounts. 

11. Statement of account 

(a) Statement of account shall be provided to the account holder periodically as agreed between the customer and BMI Bank except in case of dormant accounts. 

(b) BMI Bank shall not be liable for any losses to the account holder due to postal errors, delays, theft or for any other claim which may arise due to 

delay/non receipt on the statement. 

(c) In case of joint accounts, statement will be mailed to the first account holder. 

(d) If no objection to the contents of the statement is received within 30 days from the date of the statement, the statement shall be deemed to be 

correct. No claim whatsoever about the incorrectness of any entry in the statement shall be entertained after this 30 day period. 

12. Expenses and charges 

BMI Bank shall levy applicable service charges as mentioned in the tariff sheet, which may be changed by BMI Bank from time to time. The tariff sheet 

will be made available at BMI Bank branch and on its website (bmibank.com.bh). 

BMI Bank has the right, without references to the account holder, to debit the account with all expenses, fees, interest, commissions, taxes, stamp duties, 

postage, telex, telephone, fax, court fees, lawyers fees and other expenses, whether paid or incurred on the account holder’s behalf or arising out of any 

dealings between BMI Bank and the account holder including fees incurred by BMI Bank in the course of recovery of its debt. 

13. Right to set off and lien 

(a) BMI Bank shall apply credit funds held in any one account to discharge any debit that the account holder/s may have with BMI Bank in any other account. 

(b) BMI Bank shall have a right of lien on all properties of whatever nature (whether stocks, shares, placements, bills, precious metals or otherwise 

whatsoever) deposited with or held by the BMI Bank in the name of the account holder, and shall hold the same as security for the payment of any 

indebtedness due from the account holder to BMI Bank. Account holder waives the right to interpose any counter-claim or set-off of any nature or 

description in any litigation between BMI Bank and the account holder. 


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Serial No. 

14. Address 

(a) Address as given by the account holder shall be deemed to be the proper address for any communication, notice, statement or letter between BMI 

Bank and the account holder. Any change of address of the account holder should be promptly notified to BMI Bank in writing. Failure to do so will 

be at the risk and responsibility of the account holder. 

(b) In the event that at the request of the account holder in writing, BMI Bank agrees at its sole discretion to hold any correspondence, documents or 

papers for periodic collection personally by the account holder, BMI Bank will do so only at the express risk and responsibility of the account holder as 

to all or any consequences that may arise there from and the account holder indemnifies BMI Bank in full for the same. 

(c) Any communication shall be deemed to be delivered to the account holder, if sent to the address as provided by the account holder. 

15. Closing of accounts 

(a) BMI Bank reserves the right to close any account, after deduction of all monies due to BMI Bank at the time of such closing of the account, and to 

cease the acceptance of funds for the credit of the account, without giving any reason after giving prior notice to the customer. 

(b) The account holder may close the account by giving BMI Bank written notice thereof. 

16. BMI Bank & account holder’s liabilities 

(a) BMI Bank shall bear no responsibility and shall not be held liable to the account holder for any diminution, depreciation or loss in the value of the funds, 

or for the unavailability of such funds, credited to the account or an account with any office, branch or correspondent of BMI Bank due to any present 

or future order, decree, law or legislation, tax or levy, embargo, moratorium, sequestration, devaluation, blocking, exchange restrictions, confiscations, 

seizure, destruction, involuntary transfers, exercise of military or usurped powers, domestic or foreign political change, invasion, insurrection or internal 

revolt. Neither BMI Bank nor any of its agents or correspondents nor any respective employees shall be liable for any mutilation, interruption, error of 

transmission, omission, or delay occurring in any transmission medium (including without limitation, cables, swift, radio, telephonic systems, airlines, 

emails, faxes, courier services, ,telex systems, etc.) howsoever occurring, 

(b) In the event of the death or insanity of the account holder, BMI Bank shall not be held liable for continuing to act on any instructions received prior 

to receipt of written notification of such debt or insanity. 

(c) Any acts carried out or performed by a power of attorney holder duly empowered by the account holder will be fully binding on the account holder 

and will continue to be under the liability of the account holder till such time as a written notice is received by BMI Bank at its office withdrawing the 

power of attorney. 

17. Account holder documents 

The account holder agrees and undertakes to provide up-to-date identification documents viz. CPR, copy of passport [for expats], any other relevant 

documents to BMI Bank, as and when any of these documents provided is renewed, or updated; or otherwise requested by BMI Bank.. 

18. Automated teller machine (ATM) /Visa electron debit cards (the “card/s”) 

18.1 Definitions: 

Cardholder: means cardholder in whose name the card and the PIN are issued by BMI Bank. 

Merchant: means any corporate entity, person, or establishment supplying goods and/or services who accepts the card or the card number as a made 

payment or reservation by the cardholder. 

PIN: means the personal identification number issued to the cardholder for use in conjunction with the card where required. 

POS: means a sales outlet at retail or other business establishments. 

POS transaction: means purchase of goods and services. 

Principal cardholder: means the cardholder whose BMI Bank accounts and facility (ies) are linked to the card. 

Supplementary/additional cardholder: means a cardholder nominated by the principal cardholder. 

18.2 Card transactions 

(a) A card may at the account holder’s request be issued for the account holders current or savings account or for any banking facilities opened and 

maintained with or made available by BMI Bank and can be used by the cardholder at any BMI Bank ATM machine in Bahrain Benefit Switch, GCC Net and 

any ATM that displays “VISA” logo for purchase of goods or services at VISA merchant outlets worldwide and for cash withdrawals. 

(b) Maximum amount of withdrawal and purchases on the card will be as decided by BMI Bank from time to time. 

(c) The card must be signed by the cardholder immediately on receipt and shall only be used by the cardholder. 

(d) BMI Bank reserves the right to refuse any transaction if in excess of the available balance. If, however, for whatever reason, the cardholder exceeds 

any such available balance or facility, the cardholder shall forthwith pay to the BMI Bank, upon demand by BMI Bank, the full sum by which such 

available balance or facility is exceeded and BMI Bank may at its discretion charge the account holder its prevailing fees and charges. The cardholder 

authorizes BMI Bank to debit any of the cardholder’s accounts with the amount of any withdrawal or other transaction effected by use of an ATM/ 

Debit card. 

(e) BMI Bank at its sole discretion and without notice to the cardholder may cancel, suspend, or refuse to reissue, renew or replace the card if the 

transaction is deemed suspicious. 

(f) For all withdrawals and transactions made outside the Kingdom of Bahrain or in a foreign currency, BMI Bank shall be entitled to recover applicable 

foreign exchange rates and levy a fee for international transactions. 

(g) All refunds in relation to the payments made through the card will be done subject to receipt by BMI Bank, of refund voucher or refund verification 

acceptable to the BMI Bank. 

(h) The number, amount and currency of withdrawals shall be limited and subject to any restriction of the terminal or outlets required under the 

applicable laws and regulations or by these terms and conditions. 

18.3 Supplementary/additional cards 

At the request of the account holder, BMI Bank may issue additional cards, at its sole discretion and all payments and debits under additional cards will be 

covered by the account holder. Any supplement card may be restricted or terminated at the written request of the principal card holder. 

18.4 Personal Identification Number (‘PIN) 

BMI Bank will issue a PIN to the cardholder for use at ATM’s and terminals that will accept the ATM/Debit ca rd. The cardholder agrees that: 

(a) The PIN may be sent by post to the account holder at their own risk. 

(b) The cardholder shall not disclose the PIN to any person and shall take all possible care to prevent the discovery of the PIN by any other person. 

(c) The cardholder shall be fully liable to BMI Bank for all transactions made with the PIN whether with or without the knowledge or the authorization of 

the cardholder. 

18.5 Renewal 

BMI Bank at its discretion will renew the card automatically one month before the expiry date. If the cardholder does not wish to renew the card, the 

cardholder should inform BMI Bank in writing at least two months prior to the expiry date of the card. 

18.6 Lost or stolen ATM/debit card or PIN 

(a) In the event that an ATM/debit card is lost or stolen or the PIN is disclosed to any other party, the cardholder, shall immediately, thereafter, 

report the said loss, theft or disclosure, together with the particulars of the card, to BMI Bank in writing to the Branch Manager along with 

a copy of the Police report such loss or theft or disclosure occurred. Until the loss, theft or disclosure (as the case may be) is reported to 

BMI Bank, the cardholder will be responsible for all transactions processed by use of the ATM/debit card. 

(b) The cardholder also undertakes to provide BMI Bank with all information as to the circumstances of any loss or misuse of a card and to take 

necessary steps to assist BMI Bank to recover the missing card. 

(c) BMI Bank may at its discretion issue a replacement ATM/debit card for any lost or stolen card and new PIN subject to these terms and conditions 

as BMI Bank may require (at its discretion), subject to an administrative charge. 

(d) In the event that the lost or stolen card is recovered by the cardholder, they shall immediately return the same cut in half to BMI Bank without using 

it. The cardholder shall not use the PIN after reporting the disclosure thereof to BMI Bank. 


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18.7 Exclusion of liability 

BMI Bank shall be under no liability whatsoever to the cardholder in respect of any loss or damage arising directly or indirectly out of: 

(a) Any loss or damages arising incurred or suffered by the cardholder by reason of the bank or a merchant or other bank or financial institution or any 

ATM or other party refusing to allow a card transaction or refusing to accept the card or PIN. 

(b) Refusal of any merchant or member institution of Visa to honour or accept the card or for any defect or deficiency in the goods or services supplied 

to the cardholder by any merchant. 

(c) The malfunction of any ATM or POS device or disruption of communication systems. 

(d) Any dispute between the cardholder and any merchant of bank or financial institution or any other person, the liability of BMI Bank to the cardholder 

shall not in any way be affected by such dispute or counterclaim or right of set off which the cardholder may have against such merchant or bank 

or financial institution or person. 

18.8 Uncollected cards 

If the cardholder fails to collect the cards within a period of 90 days, the cards will be destroyed by BMI Bank and any re-issuance will attract an 

administrative charge. 

19. Automated teller machine (ATM) /Visa electron debit cards (the “card/s”) 

BMI Bank offers automated teller machine (ATM)/Visa electron debit cards to its customers who wish to avail these services. In addition to these general 

terms and conditions these specialized services are governed by the specific automated teller machine (ATM)/Visa electron debit cards terms and 

conditions, which are available at BMI Bank branches and its website www.bmibank.com.bh. The customer understands the technological risks involved 

in such services and confirms that he has read and agrees to abide by all instructions and the terms and conditions in relation to these services and take 

the necessary care and precautions in relation to the passwords, etc. 

20. Net banking and SMS banking service 

BMI Bank offers Internet banking and SMS banking services to its customers who wish to avail these services. In addition to these general terms and 

conditions these specialized services are governed by the specific net banking and SMS banking terms and conditions, which are available at BMI Bank 

branches and its website bmibank.com.bh. The customer understands the technological risks involved in such services and confirms that he has read 

and agrees to abide by all instructions and the terms and conditions in relation to these services and take the necessary care and precautions in relation 

to the passwords, user IDs, etc. 

21. Amendments & waivers 

BMI Bank shall, at all times, have the right to modify these conditions by simple notice in writing to the account holder. BMI Bank may waive compliance 

with any of these terms and conditions, but such waivers shall be without prejudice to BMI Bank’s rights including its right to enforce compliance in the 

same or similar matter at any future date. 

22. Instructions from account holder 

(a) Unless informed to the contrary, BMI Bank is authorized to rely on and the account holder be bound by any instructions made either by telephone or 

telex or facsimile transmission and appearing to come from or be authorized by an authorized person or persons in relation to any matter and BMI 

Bank shall not in any way be liable if such instructions prove not to be authorized by the account holder. The account holder will bear any loss arising 

from mistakes or misunderstandings arising from communications by telephone or telex or facsimile transmission, and BMI Bank shall be indemnified 

by the account holder for relying upon any instructions or request made by telephone or telex or facsimile transmission and believed by BMI Bank to 

have been made by a duly authorized person or persons. 

(b) If instructions are accepted by BMI Bank, it shall use reasonable endeavours to carry out such instructions as soon as is reasonably practicable, 

subject to prevailing market conditions and other circumstances outside BMI Bank’s control. 

(c) Instructions to BMI Bank shall, unless otherwise agreed in writing by BMI Bank be validly issued to BMI Bank only if issued in English 

or Arabic language. 

(d) BMI Bank has the right to record phone calls between BMI Bank and the account holder. 

23. Complaints 

Any complaint should be addressed to the complaints officer as per the procedure available in the customer complaints leaflet which is available in our 

branches and on our website www.bmibank.com.bh. 

24. Governing law 

These account terms and conditions, the opening and operation of any account and/or the relation thereby created are governed by the laws of the 

Kingdom of Bahrain. The parties agree to subject themselves to the non-exclusive jurisdiction of the Courts of Kingdom of Bahrain. 

25. Declaration 

The account holder hereby declares and undertakes that any transaction or related moneys routed through the account is not and will not be related to 

any transaction or related moneys routed through the account is not and will not be related to any money laundering or either activities contrary to the 

laws of the Kingdom of Bahrain or the International Community or the laws of other countries as in force from time to time. 

26. Disclosure 

BMI Bank shall maintain confidentiality of all information relating to the account but is authorized by the account holder to disclose without prior or 

otherwise reference to it, information to the regulators i.e. Central Bank of Bahrain and for other purposes if it is required to do so under the applicable 

law or by general Banking practice in the jurisdiction of its incorporation. In order to comply with the regulatory requirements, BMI Bank is authorized to 

forward any account holder information as well as reporting of any suspicious transactions. BMI Bank shall seek credit reference and respond to request 

for credit references made by other Banks and Financial Institutions at its sole discretion and without any further reference to the account holder. 

27. Conflicts of Interest 

BMI Bank is regulated by the Central Bank of Bahrain and its guidance on conflict of interest. BMI Bank has aligned its internal policies to be consistent 

with the guidelines for handling all matters including conflict of interest whereby, the account holder will not be treated unfairly and as such BMI Bank will 

take necessary steps to manage the conflict of interest if/when an actual or potential conflict arises. BMI Bank will take all necessary steps to manage 

the conflict in accordance with BMI Bank’s conflict policy. 

I/We acknowledge having received one copy of these general terms and conditions. I, the undersigned, confirm that I am the beneficial owner of the 

account, that I am acting on my own behalf. I/We have taken note of their contents and I/we consider myself/ourselves bound thereby and to any new 

terms and conditions that may come into effect from time to time as agreed by BMI Bank, by mail to my/our last recorded address and/or displayed 

conspicuously at BMI Bank’s premises or website. 

Place: 

Date: 

BMI Bank -bh-tnc-27-12-12 

Signature(s) of Authorized Signatory/ies: 


bmibank.com.bh

Form 

W-8BEN 

Certificate of Foreign Status of Beneficial Owner 

for United States Tax Withholding 

(Rev. February 2006) 

OMB No. 1545-1621 

Department of the Treasury 

Section references are to the Internal Revenue Code. See separate instructions. 

Internal Revenue Service 

Give this form to the withholding agent or payer. Do not send to the IRS. 

Do not use this form for: 

Instead, use Form: 

● A U.S. citizen or other U.S. person, including a resident alien individual W-9 

● A person claiming that income is effectively connected with the conduct 

of a trade or business in the United States 

W-8ECI 

● A foreign partnership, a foreign simple trust, or a foreign grantor trust (see instructions for exceptions) 

W-8ECI or W-8IMY 

● A foreign government, international organization, foreign central bank of issue, foreign tax-exempt organization, 

foreign private foundation, or government of a U.S. possession that received effectively connected income or that is 

claiming the applicability of section(s) 115(2), 501(c), 892, 895, or 1443(b) (see instructions) 

W-8ECI or W-8EXP 

Note: These entities should use Form W-8BEN if they are claiming treaty benefits or are providing the form only to 

claim they are a foreign person exempt from backup withholding. 

● A person acting as an intermediary 

W-8IMY 

Note: See instructions for additional exceptions. 

Part I Identification of Beneficial Owner (See instructions.) 

1 Name of individual or organization that is the beneficial owner 

2 

Country of incorporation or organization 

3 

4 

Type of beneficial owner: Individual Corporation Disregarded entity Partnership Simple trust 

Grantor trust 

Complex trust 

Estate 

Government 

International organization 

Central bank of issue 

Tax-exempt organization Private foundation 

Permanent residence address (street, apt. or suite no., or rural route). Do not use a P.O. box or in-care-of address. 

City or town, state or province. Include postal code where appropriate. 

Country (do not abbreviate) 

5 

Mailing address (if different from above) 

City or town, state or province. Include postal code where appropriate. 

Country (do not abbreviate) 

6 U.S. taxpayer identification number, if required (see instructions) 

7 

SSN or ITIN EIN 

8 Reference number(s) (see instructions) 

Foreign tax identifying number, if any (optional) 

Part II 

9 

10 

a 

b 

c 

d 

e 

Claim of Tax Treaty Benefits (if applicable) 

I certify that (check all that apply): 

The beneficial owner is a resident of 

within the meaning of the income tax treaty between the United States and that country. 

If required, the U.S. taxpayer identification number is stated on line 6 (see instructions). 

The beneficial owner is not an individual, derives the item (or items) of income for which the treaty benefits are claimed, and, if 

applicable, meets the requirements of the treaty provision dealing with limitation on benefits (see instructions). 

The beneficial owner is not an individual, is claiming treaty benefits for dividends received from a foreign corporation or interest from a 

U.S. trade or business of a foreign corporation, and meets qualified resident status (see instructions). 

The beneficial owner is related to the person obligated to pay the income within the meaning of section 267(b) or 707(b), and will file 

Form 8833 if the amount subject to withholding received during a calendar year exceeds, in the aggregate, $500,000. 

Special rates and conditions (if applicable—see instructions): The beneficial owner is claiming the provisions of Article 

of the 

treaty identified on line 9a above to claim a % rate of withholding on (specify type of income): . 

Explain the reasons the beneficial owner meets the terms of the treaty article: 

Part III 

Notional Principal Contracts 

11 I have provided or will provide a statement that identifies those notional principal contracts from which the income is not effectively 

connected with the conduct of a trade or business in the United States. I agree to update this statement as required. 

Part IV Certification 

Under penalties of perjury, I declare that I have examined the information on this form and to the best of my knowledge and belief it is true, correct, and complete. I 

further certify under penalties of perjury that: 

1 I am the beneficial owner (or am authorized to sign for the beneficial owner) of all the income to which this form relates, 

2 The beneficial owner is not a U.S. person, 

3 The income to which this form relates is (a) not effectively connected with the conduct of a trade or business in the United States, (b) effectively connected but is 

not subject to tax under an income tax treaty, or (c) the partner’s share of a partnership’s effectively connected income, and 

4 For broker transactions or barter exchanges, the beneficial owner is an exempt foreign person as defined in the instructions. 

Furthermore, I authorize this form to be provided to any withholding agent that has control, receipt, or custody of the income of which I am the beneficial owner or 

any withholding agent that can disburse or make payments of the income of which I am the beneficial owner. 

Sign Here Signature of beneficial owner (or individual authorized to sign for beneficial owner) Date (MM-DD-YYYY) 

Capacity in which acting 

For Paperwork Reduction Act Notice, see separate instructions. Cat. No. 25047Z Form W-8BEN (Rev. 2-2006) 

Printed on Recycled Paper



T +973 17 508080 

F +973 17 226641 

Client Information Sheet 

Account No. 

Name 

Resident address 

Mailing address 

Contact Fixed line Mobile 

Fax 

E-mail 

National ID number 

Date of issue 

Passport number 

Date of issue 

Years of investment 

experience 

Issuing country 

Expiry date 

Issuing country 

Expiry date 

Area of expertise Equities 

Options 

Fixed income (Bonds & Preferred shares) 

Other derivatives 

Futures 

Annual income (USD) < 100,000 

100,000 - 250,000 

250,000 - 500,000 

500,000 - 1 million 

1 million - 5 million 

> 5 million 

Source & Income Salary (with check box) 

Business (with check box & please specify _____________________________________) 

Inheritance (with check box) 

Gift (with check box) 

Other (with check box & please specify _______________________________________) 

Liquid networth (USD) 

(excluding value of 

your house) 

< 100,000 

100,000 - 250,000 

250,000 - 500,000 

500,000 - 1 million 

1 million - 5 million 

> 5 million 

Account objective Risk exposure Investment objective 

Low 

Moderate 

Speculation/High risk 

Employment status Employed 

Self Employed 

Retired 

Occupation 

Employer’s name 

Income 

Long term growth 

Short term growth 

Unemployed 

Homemaker 

Student 

Years of experience 

Type of business

Employer’s address 

(office telephone/fax no) 

Number of dependents 

Tax status 

Please name the banks 

with which you transact 

Are you an employee 

of a broker/dealer 

or a financial 

institution 

Yes No Are you related to an 

employee of a broker/ 

dealer or a financial 

institution 

Yes 

No 

If yes, provide the name 

of the institution and the 

relationship 

Are you maintaining any 

other private banking 

accounts 

Yes No If yes, provide the name 

of the institutions 

Are you a senior officer, 

Director or a significant 

Shareholder of a public 

company 

Yes No If yes, please provide 

details 

Do you hold positions in 

the Government agencies/ 

Parliament/Armed Forces/ 

related to Royalty 

Yes No If yes, provide details 

I certify that the above information is accurate and can be relied upon by BMI Bank in determining the suitability of 

investments and offering advice for my account. 

Date 

Signature 

Place 

Relationship manager 

Signature



T +973 17 508080 

F +973 17 226641 

Private Banking Client Notification and Terms of Business 

BMI Bank B.S.C (c) (“the Bank”), a joint stock closed company incorporated under the laws of the Kingdom of Bahrain registered 

with commercial registration number 55436 and authorized, regulated and bound by The Central Bank of Bahrain (CBB) regulations 

and licensing conditions, under license no. FCB/034, whose address is at: 

World Trade Center, East Tower, 16 th Floor 


Tel: +973 17 508080, Fax: +973 17 131035 

1. General 

Definitions: 

“Applicable Rules” means (a) the rules of the CBB; (b) the rules 

of any market regulatory body that supervises the Bank services; 

(c) the Bank’s internal policies and procedures; and (d) all other 

laws, rules and regulations in force from time to time. 

“Customer” means the clients of the Bank who are investing in 

the private banking products. 

“Events of Default” has the meaning attributed to it in Clause 5. 

“Material Adverse Change” means an event or circumstance 

which (when taken alone or together with any previous event or 

circumstances) constitutes: 

• a material adverse change in the international financial 

markets; or 

• a material adverse change in the political, social or economic 

situation in the country where the Customer/Bank is located; 

or 

• an adverse change to the validity, legality or enforceability 

of any document. 

“Real Time Promotions” means a promotion made in the 

course of a personal visit, telephone conversation or other 

interactive dialogue. 

“Services” means the services rendered by the Bank in 

accordance with Clause 2 of these terms of business and which 

fall under the scope of CBB license. 

“Settlement” means to close the transaction by paying 

the transaction amount or receiving purchased securities in 

stipulated time period. 

“Settlement date” means the date by which an executed 

security trade must be settled. On settlement date the buyer 

must make payment and seller must deliver the security. 

“Transaction” means an agreement between a buyer and seller 

to exchange an asset or services for payment. 

“Transaction Confirmation” means the official notification of 

a trade or deal done on behalf of the Customer detailing the 

Transaction and the net transaction amount. 

2. Services 

2.1 The Bank may provide Services which include, but are not 

limited to, brokerage services, derivatives products, structured 

products, fixed income securities, leveraged products, trading 

activities, leveraged financing and the arrangement of deals 

in all kinds of securities, including executing transactions in 

units in unregulated collective investment schemes. Unless 

the Bank expressly otherwise agrees in writing, it shall not be 

responsible for managing or supervising the management of 

any of the Customer’s investments. 

2.2 The Customer acknowledges and agrees that the 

transactions stipulated herein are related to sophisticated 

private banking products and is aware of the risks associated 

therein and in these Terms of Business. The Customer shall 

not be entitled to request the Bank to provide investment 

advice relating to a Transaction or make any statement 

of opinion to encourage the Customer to enter into a 

particular Transaction. Consequently, trade ideas, research, 

other communication, market information, advice or 

recommendations that the Customer may receive from time 

to time are not, unless it is clearly stated to the contrary, 

presented as being suitable to its specific circumstances 

and should not be taken as a recommendation to make 

guaranteed profit making trades. 

2.3 However, the Bank may in its absolute discretion seek 

additional information or other confirmation in relation to 

the transaction, as the Bank thinks fit and without having 

to give any reason for doing so, refuse to provide particular 

services or activities.

2.4 The Customer also agrees to receive any real time 

promotions from the Bank. 

3. Dealing 

3.1 Dealings between the Customer and the Bank shall be carried 

out in writing (including fax), by phone or email (Provided 

phone, fax and email indemnity is executed by the Customer 

in form and acceptable to the Bank) or other electronic 

means (including online order placement) or orally. The Bank 

shall not be obliged to acknowledge or accept any request to 

sell or purchase any particular investment. Subject to these 

terms of business, the Bank shall use all reasonable endeavors 

to carry out the Customer’s request but shall be under no 

liability for any loss or expense the Customer may incur by 

reason of any delay or change in market conditions before 

the transaction is effected or by any failure to execute such 

transaction, including but not limited to failure to execute a 

stop loss (limit) order. 

3.2 The Bank will execute all the Customer’s orders sequentially 

and promptly unless it considers that characteristics of a 

Customer’s order or prevailing market conditions make 

this impracticable, or that a Customer’s interests require 

otherwise. The Bank does not represent or warrant that 

it will be possible to execute such order or that execution 

will be possible according to the Customer’s instructions, 

including but not limited to receiving a large buy or sell 

market order in an illiquid stock will result in unanticipated 

execution price than the quoted price on receiving the order. 

In case of such situations the Bank will use its own discretion 

to place it as market or limit orders in small lots. The Bank 

shall carry out an order on behalf of the Customer only when 

the relevant market is open for dealings, and the Bank shall 

deal with any instructions received outside market hours as 

soon as possible when that relevant market is next open for 

business. 

3.3 When the Transaction is carried out in currencies other than 

BHD and USD, the Bank may need to convert the transaction 

currency to the currency in which the Customer’s account is 

denominated, at the prevailing market exchange rate. 

4. Settlement 

4.1 The Customer is obliged to pay for the securities purchased 

by the Bank on or before the settlement date. If at the time 

of settlement of a Transaction, there are insufficient funds 

in the Customer’s account to enable the Bank to meet the 

settlement obligations, the Bank shall not be obliged to 

settle the Transaction. Where there are insufficient funds 

in the Customer’s account and the Bank does proceed to 

settlement, the Bank may at its sole discretion decide to 

accept delivery of securities, debit the Customer’s account 

for the payment to satisfy Customer’s obligation, sell 

the securities without any further confirmation from the 

Customer (one or more securities to cover the obligation) at 

any price the Bank believes to be reasonable, and credit the 

Customer’s account with net proceeds thereof. In case the 

proceeds are less than the settlement amount paid by the 

Bank, then clause 4.4 of the Terms of Business shall apply. 

4.2 The Bank shall promptly send the Transaction Confirmation 

executed by the Bank on your behalf on any particular day, 

by post, to the address given by you on the Bank’s record. 

The Bank shall keep such records for a maximum of 5 years 

or as otherwise required by Bahrain Law. Any change in the 

Customer’s address, email address, fax number or any other 

means of communication, should be promptly notified to 

the Bank in writing. Failure to do so will be at the Customer’s 

risk and responsibility. 

4.3 Third party’s risk of non-performance 

The Customer agrees and understands that in some security 

markets, the delivery of securities and payment thereon may 

not be made simultaneously. In such markets, the Bank may 

make payments or delivery of securities at such time and in 

such manner as is in accordance with relevant local law and 

practice or with the customs prevailing in the relevant markets. 

The Customer shall bear the risk that the counterparty to the 

transaction may not pay or perform on time or at all. 

4.4 If the Customer defaults in paying any amount by the due 

date (including without limitation, any interest payments 

due on any outstanding amount), the Bank shall be entitled 

on such date to pay to the credit of, or as the case may be, 

debit to any holding, book entries, account or accounts of the 

Customer held with the Bank (including any joint account) 

in which the Customer may have an interest, the amount 

in question in the appropriate currency or, at our option, 

equivalent thereof (at current market rates as determined 

by the Bank’s treasury department at its sole discretion), 

in any other currency or currencies in which any balance on 

such account or accounts may then be denominated. The 

Customer waives the right to interpose any counter-claim or 

set-off of any nature or description in any litigation between 

the Bank and the Customer. 

5. Events of Default 

“Event of Default” includes, but is not limited to, the following. 

(a) the Customer’s failure to make any payment to the Bank in 

accordance with Clause 4; or 

(b) the Customer’s failure to perform any obligation due to the 

Bank; or 

(c) if the Customer is an individual, the Customer’s death; or 

(d) the initiation by the Customer or any third party of 

proceedings for the Customer’s bankruptcy or liquidation 

or if the Customer makes an arrangement or composition 

with Customer’s creditors or any other similar or analogues 

procedure is commenced in respect of the Customer; or 

(e) the Customer is or becomes unable to pay his debts as and 

when they fall due; or 

(f) a Material Adverse Change occurs.

6. Expense & Charges 

6.1 The Bank shall levy applicable service charge as mentioned 

in the tariff sheet or as agreed in writing, which may be 

amended by the Bank from time to time. In consideration of 

the Services provided by the Bank in accordance with these 

terms of business or otherwise, the Bank may charge a mark 

up or a mark down on transaction effected on behalf of the 

Customer as agent, or both. 

7.5 At any time after termination of these terms of business 

under clause 7.1, or after the occurrence of any of the 

Events of Default or after the Bank has determined at its 

sole discretion that the Customer has not performed (or 

may not be able to willing in the future to perform) one 

or more of its obligations or following a Material Adverse 

Change, the Bank shall be entitled without notice: 

6.2 In addition to the above, the Bank has a right without 

reference to the Customer, to debit the Customer’s 

account with all expenses, fees, interest, commissions, tax, 

duty, levy, fee, other expenses, whether paid or incurred on 

behalf of the Customer or arising out of any dealing between 

the Bank and the Customer or incurred by the Bank in 

connection with the transactions effected with or for the 

Customer, including fees incurred by the Bank in the course 

of recovery of its debt. 

6.3 The Bank may add more services in addition to the one 

described above and the charges for the new services will 

be informed upon request or prior to any transaction of the 

new products. 

7. Termination 

7.1 The Bank reserves the right to terminate these terms of 

business and any Services provided hereunder by giving a 

written notice to the Customer at any time with or without 

cause and such notice shall be effective on the date 

mentioned in the notice. The Customer may terminate these 

terms of business and any services provided in accordance 

herewith by seven business days’ written notice, such notice 

taking effect from the date of receipt. 

7.2 No penalty will become due from either party in respect 

to the termination of these terms of business. However, 

any termination of these terms of business will not affect 

any outstanding orders or Transactions or any legal rights, 

duties, liabilities (whether actual, contingent or otherwise) or 

other obligations which may already have arisen or accrued 

at the date of termination. 

7.3 Transaction in progress at the date of termination will be 

completed by the Bank as soon as practicable. 

7.4 On termination by either party, the Bank will: 

(a) be entitled to receive from the Customer, all fees, costs, 

charges, expenses and liabilities accrued or incurred under 

these terms of business up to the time of termination 

including any additional expenses or losses reasonably and 

properly incurred by the Bank in terminating these terms; and 

(b) as soon as reasonably practicable subject to (a), deliver 

or cause the securities to be delivered to the Customer 

or Customer’s order. 

(a) to treat any or all Transactions then outstanding as 

having been cancelled and terminated; and/or 

(b) to sell Customer’s securities as the Bank may in its sole 

discretion select in order to realize funds sufficient to 

cover any outstanding amounts. 

8. Indemnity and liability 

(i) The Customer will indemnify the Bank, and keep it 

indemnified, in respect of all liabilities, losses or costs of any 

kind or nature whatsoever that my be incurred by the Bank 

(including obligations of the Bank under any Intermediary 

Agreement) as a direct or indirect result of any failure by 

the Customer to perform any of its obligations under this 

Agreement, in relation to any Transaction or in relation to 

any false information or declaration made either to the Bank 

or to any third party, in particular to any exchange. 

(ii) The Bank will not be liable for any direct, indirect, special, 

incidental, punitive or consequential damages (including, 

without limitation, loss or business, loss of profits, failure to 

avoid a loss, loss of data, loss or corruption of data, loss of 

goodwill or reputation) caused by any act or omission of the 

Bank under this agreement. 

9. Governing Law & Jurisdiction 

The laws of Bahrain shall govern this agreement and the parties 

agree to subject themselves to the non-exclusive jurisdiction of 

the courts of Kingdom of Bahrain. 

10. Declaration 

The Customer hereby declares and undertakes that any 

transaction or related moneys routed through the account is not 

and will not be related to any transaction or related to any money 

laundering or either activities contrary to the laws of the Kingdom 

of Bahrain or the International Community or the laws of other 

countries as in force from time to time. 

11. Recording of telephone calls 

The Bank may monitor and/or record communications (internet, 

telephone or otherwise) between the Bank and the Customer, 

which shall be the property of the Bank. 

12. Complaints 

All complaints should be registered on the Bank’s website 

www.bmibank .com.bh

13. Amendment & Waivers 

The Bank shall, at all times, have right to modify these conditions 

by simple notice in writing to the Account holder or displayed 

in the Bank’s branches/premises or on the Bank’s website. The 

Bank may waive compliance with any of these terms of business, 

but such waivers shall be without prejudice to the Bank’s rights 

including its right to enforce compliance in the same or similar 

matter at any future date. 

14. Disclosure 

The bank shall maintain confidentiality of all information relating 

to the Account but is authorized by the Account holder to 

disclose without prior or otherwise reference to it, information 

to the regulators i.e. Central Bank of Bahrain and for other 

purposes if it is required to do so under the applicable law or by 

general banking practice in the jurisdiction of its incorporation. 

In order to comply with the Regulatory requirements, the Bank 

is authorized to forward any Customer information as well as 

reporting of any Suspicious Transactions. The Bank shall seek 

credit reference and respond to request for credit references 

made by other banks and financial institutions at its sole 

discretion and without any further reference to the Customer. 

Further, the Customer agrees to co-operate with the Bank to 

promptly supply information requested in connection with the 

enquiry. 

15. General 

(a) In case of any conflict between these terms of business and 

Applicable Rules, the Applicable Rules shall apply. 

(b) Nothing in these terms of business shall exclude or restrict 

Bank’s obligation towards the Customer under any Applicable 

Rule. 

(c) The Bank shall not be held liable for taking or failing to take 

any action it considers necessary to ensure compliance 

with any Applicable Rules, which will be binding on 

the Customer. 

(d) If a regulatory body takes any action which affects a 

Transaction, then the Bank may take any action which, in its 

reasonable discretion, is desirable in relation to such action or 

to mitigate any loss incurred as a result of such action. 

By signing these terms of business and entering into a 

business relationship with the Bank, the Customer agrees 

and acknowledges having received one copy of these terms 

of business, have taken not of their contents and to be 

bound by these terms of business. 

Certain Services (including but not limited to Options and 

Futures), are governed by their own specific terms and 

conditions which are in addition to these Terms of Business 

and in such case the Customer will be obliged to enter into 

such agreements as the Bank may require and these Terms 

of Business will be deemed to be in addition to but not in 

substitution of such specific terms. These terms of business 

will apply prior to entering into these agreements. 

___________________ 

Customer signature 

___________________ 

BMI Bank B.S.C (c) 

___________________ 

Customer signature 

___________________ 

BMI Bank B.S.C (c) 

___________________ 

Customer name 

___________________ 

Date 

___________________ 

Customer name 

___________________ 

Date



T +973 17 508080 

F +973 17 226641 

Non Discretionary Investment Management Agreement 

This agreement is made this day of 20 

Between 

(1) BMI Bank B.S.C.(c) whose principal office is at P.O. Box 350, Manama, Bahrain and registered office in Manama, Kingdom of 

Bahrain (hereinafter called the “Bank” which expression shall where the context so admits or requires, include the Bank’s 

successors and assigns) and 

(2) _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 

_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 

(hereinafter called the client). 

Whereby it is agreed as follows: 

Appointment 

The Client hereby appoints the Bank to execute transactions 

relating to the purchase and sale of shares, stocks, bonds, 

instruments, warrants, notes, treasury bills and other securities 

of any kind, whether traded or not (hereinafter called the 

Securities) and to provide administration and custodial services 

relating to the said securities. 

The Bank’s Authority 

On the receipt of the Client’s instructions, the Bank will subject 

to the under mentioned, arrange for the purchase or sale of 

securities. The Bank will act only as a broker and unless otherwise 

proved to the contrary, the Client acknowledges that any sale 

or purchase of securities on behalf of the Client will not result 

from the selection or advice in the selection from the Bank. 

Securities shall be held and registered in the name of the Bank 

and will be held either by BMI Bank, or a designated Custodian of 

the Bank on behalf of the Client. 

The Bank may, at its sole discretion, act on the Client’s 

instructions to purchase securities without first receiving the 

funds therefore. In such circumstances, the Client shall put the 

Bank in funds in the amount demanded by the Bank on the 

earlier of the value date of such purchase order or two business 

days of the Bank’s demand therefore. 

All amounts, if and when received with respect to the securities 

(including, but without limitation, interest dividends and other 

distributions) shall be credited to the Client’s account with the 

Bank, unless specified otherwise. 

The Bank may refuse to act (and shall bear no liability for such 

refusal) on any instructions given by the Client if, in the opinion 

of the Bank, such instructions contravene any applicable law or 

rule then in force, whether local or international, or concerns 

securities which the Bank does not deem it fit to deal in. 

The Bank shall exercise subscription, conversion and other 

rights attaching to securities held on behalf of the Client, if the 

Client does not specify its choice within a reasonable period. 

The Client agrees that the Bank shall have no obligation of “Best 

Execution” in its dealings with the Client. 

Instructions for purchase or sale of securities shall be at the 

Client account and risk. 

The Bank is authorized but is not obliged to rely upon and 

act in accordance with any instructions which may be given 

by the Client through facsimile, telex or telephone. The Client 

hereby indemnifies the Bank for acting in accordance with such 

instructions given through facsimile, telex, or telephone. 

In the case of telephonic instructions, the Bank is authorized to 

make magnetic tape or equivalent recordings of the relevant 

conversation and the Client agrees that the records and 

transcripts kept by the Bank shall be binding and conclusive 

evidence of such instructions. 

Credit Facilities 

The Client undertakes to pay interest to the Bank in respect of 

any debit balance in any account of the Client or any amount 

otherwise owing to the Bank at any time at such rate as may be 

prescribed from time to time by the Bank. 

In the event of any Credit Facilities being granted to the Client 

by the Bank, such Facilities shall be subject to such additional 

terms and conditions as may be specified. 

Foreign Currency Transactions 

If the Client instructs the Bank to effect any sale or purchase of 

securities in a foreign currency, any profit or loss arising as a result 

of the fluctuation of the exchange rate of the relevant currency will 

be entirely for the account of the Client. The Bank may convert the 

funds in any account of the Client into and from the foreign currency 

at such rate of exchange as the Bank may at its sole discretion 

determine as being the then prevailing market rate.

Investment Valuation 

A list of the securities held by the Bank for account of the Client 

will be prepared and forwarded to the Client at periodic intervals 

which will be normally at monthly intervals. 

Fees and Expenses 

The Client shall pay the Bank: 

- A commission for executing each transaction concerning 

the acquisition and disposal of securities, in an amount 

which shall be as agreed. 

- An administration and custodial fee and such other fees 

as agreed. 

- All costs, liabilities and expenses incurred by the Bank 

including but not limited to brokerages, commissions, stamp 

duties, taxes, registration and custodian fees which may be 

incurred by the Bank in the course of transacting or dealing 

in, or carrying out the Client’s instructions. 

The Client will indemnify the Bank against any and all liabilities 

with respect to or resulting from any delay, or failure on the part 

of the Client to pay such duties or taxes. The Bank may share 

dealing charges with associated companies or third parties, 

or receive remuneration from them in respect of transactions 

carried out on behalf of the client. Details of such remuneration 

or sharing shall not be disclosed. 

Lien and Power of Sale 

All securities, deposits and other investments including any 

proceeds thereof which are held by the Bank for the Client 

shall be subject to a general lien with a power of sale for the 

discharge of all the Client’s obligations of the Bank. 

The Bank may close-out the Client’s position without prior notice 

to the Client after it has determined at its sole discretion that 

the Client has not performed any of its obligations to the Bank, 

or after the Bank has reasonably determined that the Client may 

not be able or willing in the future to perform its obligations to 

the Bank or there has been a material adverse change in market 

or economic conditions. The Bank shall in particular, be entitled 

but not obliged to take the following action (but shall not be 

limited to such action for closing out the Client’s position): 

- to treat all investment dealing transactions then outstanding 

as having been terminated or cancelled and/or 

- to sell such of the Client’s investments as the Bank may in 

its discretion select in order to realize funds to cover any 

outstanding amount and/or 

- to close out, replace or reverse any such transaction, enter into 

such other transaction, or take, or refrain from taking, such 

other action at such time or times and in such manner as, at 

its sole discretion, the Bank considers necessary or appropriate 

to cover, reduce, or eliminate any loss or liability under or in 

respect of any contracts, positions or commitments. 

any credit balance in any such account or other accounts of the 

Client, all accounts of the Client with the Bank for this purpose 

being treated as single, integral and indivisible. 

Liabilities and Indemnities 

The Client acknowledges and agrees that the Bank shall have no 

obligation to or in respect of any person on behalf of whom the 

Client is acting as trustee, agent or intermediary. 

The Client acknowledges and accepts that he is aware of and 

understands the risks involved in transactions which the Bank 

may enter into at his instance and on his behalf. The Client 

herby agrees to indemnify the Bank and to accept full liability 

for any losses arising out of such transactions. 

The Bank will not be responsible for any error of fact or 

judgement or for any action lawfully taken or omitted to be 

taken under this agreement, except through its own negligence 

or willful default. 

The Bank will not be responsible for any loss of opportunity 

whereby the value of the investments could have been increased 

or for any diminution or decline in the value of the investments 

and the Client hereby acknowledges and agrees that the sole 

responsibility for all investment decisions vests in him. 

The Bank shall not be responsible for the solvency of any bank, 

clearing house, broker, intermediary or other agent employed 

by the Bank in good faith and with due care and diligence for the 

performance of such other parties’ duties. The risk with respect 

to agreements and transactions entered into and investments 

deposited with any such person or institutions by the Bank 

on behalf of the Client shall be for the account of the Client, 

whether or not such agreements and transactions were entered 

into, and whether or not such investments were deposited in 

the name of the Client, provided that the books of the Bank 

show that such agreements or transactions were entered into 

and/or such deposit was made for the account of the Client. 

Representation and Warranties 

By entering into this agreement, the Client represents and 

shall be deemed to confirm for the bank’s benefit that it has 

the power lawfully to conduct business upon the terms and 

conditions set forth herein, and to enter into this agreement 

validily and lawfully and that the conduct of such business 

has been duly authorized by appropriate corporate or other 

action and that all necessary approvals or consents have been 

obtained. The signatories hereto on behalf of the client hereby 

indemnify the bank for acting on this representation. 

The Client warrants and represents that he is the legal and 

beneficial owner of the securities, cash and other investments 

and that no other person has any legal or beneficial interests in 

the same. 

In the event that the Client should fail to pay on the due date 

any sum due to the Bank in terms of this Agreement, the Bank 

is irrevocably authorized and instructed by the Client, without 

prior notice or reference, to debit any account or accounts of 

the Client with the Bank and to set-off any such amount against 

The Client has the authority, power and legal capacity to enter 

into and perform the obligations under this agreement and this 

agreement constitutes a valid and legally binding obligation on 

the Client.

Methods and Term of Dealing, Aggregation and Averaging 

The Bank may effect transactions through such agents or 

intermediaries, including connected parties, as it may from time 

to time select, but subject to any duty or liability which the 

Bank has under any regulatory system, it shall not be liable for 

any act or omission of any such agent, or intermediary, whether 

negligent, willful or otherwise. 

All transactions effected under this Agreement will be subject 

to the rules and customer of the exchange or market and/or 

any clearing house through which the transactions are executed 

and to any applicable law. In case of conflict between this 

Agreement and any such rules, customs and law, the latter shall 

prevail and be binding on the Client. 

The Bank may combine sales or purchases on behalf of the 

Client with sales or purchases on behalf of other clients or its 

own sales or purchases and where this results in a number 

of transactions at different prices, may average the prices 

obtained so that all the clients involved in the transactions pay 

or receive the same average price. Such combination may result 

in the Client obtaining sometimes a more and sometimes a less 

favourable price than what could have been achieved had the 

transactions been executed separately. 

Remedies and Waivers 

No delay or omission on the part of the Bank in exercising any 

right, power or remedy provided by law or under this Agreement 

shall impair such right, power or remedy or operate as a waiver 

thereof. 

Force Majeure 

In the event of any circumstances beyond reasonable control of 

the Bank including, but without limitation, any failure, interruption, 

or delay in the performance of its obligations resulting from 

breakdown, failure or malfunction of any telecommunications 

or computer system or service, the Bank shall not be deemed 

to be in breach of this Agreement or otherwise liable for any 

delay in performance or for any non-performance of any of its 

obligations under this agreement, nor shall it be liable or have 

any responsibility of any kind for any loss or damage thereby 

incurred or suffered by the Client. 

Termination 

This Agreement may be terminated by the Bank at any time 

upon giving written notice of the same to the Client. 

The Client may terminate this Agreement at any time upon 

giving 15 days prior notice to the Bank. 

Upon termination as aforesaid, the provisions of this Agreement 

shall nevertheless remain in effect with respect to all securities 

and other investments then held for the Client and in respect 

of all transactions previously executed hereunder and all orders 

given by the Client previously and accepted by the Bank and 

not otherwise cancelled pursuant to the express terms of this 

Agreement. 

Miscellaneous Provisions 

All dates and periods of time referred to shall be ascertained in 

accordance with the Gregorian calendar. 

This Agreement shall be governed by and constructed in 

accordance with English law and the parties agree to submit 

themselves to the non-exclusive jurisdiction of the Courts 

of England. Nothing contained in this Agreement shall limit 

the right of the Bank to take proceedings against the Client 

in any other court of competent jurisdiction, nor shall the 

taking of proceedings in one or more jurisdictions preclude 

the taking of proceedings in any other jurisdiction, whether 

concurrently or not, to the extent permitted by the law of such 

other jurisdiction. 

The Bank may at any time assign all or any part of its rights 

and benefits under this Agreement or giving not less then one 

months notice to the Client. The Client shall not assign all or any 

part of its rights or benefits under this agreement. 

Any notice, instruction or other communication given or made 

under or in connection with this Agreement shall be in writing. 

Any such notice, instruction or communication shall be given 

by registered letter or by facsimile (with original to follow by 

registered post) to the address or telefax number (as appropriate) 

of the parties shown in this Agreement (or such other address or 

telefax numbers which the parties shall notify). 

Place: 

_____________________ 

Authorized signatory 

Witness: _____________________________________ 

_____________________ 

Authorized signatory 

Witness: _____________________________________ 

Name: 

_____________________________________ 

Name: 

_____________________________________ 

Address: _____________________________________ 

Address: _____________________________________



T +973 17 508080 

F +973 17 226641 

Fees Schedule – Private Banking 

This document summarizes the various charges & Fees applicable to the customer of Private Banking. Having read & understood 

the schedule, kindly sign at the end-of the document. As a valued customer we assure you our best of products & services at all 

times. Private Banking offers but is not limited to the following products & services. We offer special discounts to our valued clients 

over these charges. Kindly contact your Relationship Manager for more information. 

• Fixed income (bonds, preferred shares, CD’s etc) 

• Structured products (interest rate, equity, indices, commodities) 

• Hedge funds 

• Mutual funds 

• Brokerage (regional & international) 

• Leverage facilities 

• Derivatives 

• Safe custody 

Safe Custody Charge 

0.15% per year 

The safe custody charge is levied over the market value of the financial instruments underlying. Charge is taken in equal proportion 

0.075% twice a year i.e. January & July. 

Brokerage Services 

GCC Capital Markets 

Market Commission Charge Minimum Charge 

Bahrain 0.50% BD 20 

Dubai 0.50% AED 200 

Abu Dhabi 0.50% AED 200 

DIFX 0.50% USD 100 

Saudi Arabia 0.50% SAR 200 

Kuwait 0.50% KWD 20 

Oman 0.80% OMR 20 

Qatar 0.50% QAR 200 

US & Canada Capital Markets 


US Capital Markets $ 0.06 per share USD 60 

US Options 

Up to 100 Contracts $ 0.06 per share USD 60 

100 – 500 Contracts $ 0.05 per share USD 60 

Above 500 Contracts $ 0.04 per share USD 60 

Penny Stocks ex NYSE $ 0.0015 per share USD 150 

Canada C$ 0.06 per share C$ 60 

Japan, Greater China & Eastern Capital Markets 


Japan 1% JPY 12,500 

China 1% CNY 1000 

Hong King 1% HKD 1000 

Singapore 1% SGD 150 

Indonesia 1% IDR 1000 

Thailand 1% THB 3500 

Philippines 1% PHP 5000

European & Latin America Capital Markets 

Market Commission Charges Minimum Charge 

United Kingdom 0.50% GBP 50 

Ireland 0.50% GBP 50 

Germany 0.50% EUR 60 

Switzerland 0.50% CHP 100 

Austria, Belgium, 

Denmark, Finland, 

France, Italy, 

Luxembourg, 

Netherlands, Norway, 

Portugal, Sweden & 

Spain 

Bulgaria, Croatia, 

Estonia, Latvia, 

Lithuania, Romania, 

Slovakia & Slovenia 

Argentina, Peru, 

Mexico & Venezuela 

0.50% 

EUR 75 

1.50% EUR 150 

1.50% USD 100 

Australia & New Zealand Capital Markets 

Market Commission Minimum Charge 

Australia 1% AUD 150 

New Zealand 1% NZD 150 

MENA Capital Markets 

Market Commission Charges Minimum Charge 

Egypt 1% EGP 1000 

Turkey 1% TRY 150 

Morocco 1% MAD 1000 

Mutual Funds 

Fund type Entry load Exit load 

Open endedland 2-5% Nil 

Close ended Nil As indicated in Fact Sheet 

Structure Notes, Private Equity & Special Investment Vehicles 

Sales fees Up to 1% 

Structuring fees Up to 3% 

Placement fees Up to 2% 

The above fees may not be applicable to all products. A structure can be a combination of all or one of these fees only. The fees 

given here are for indication only. The actual fees applicable may be inclusive or exclusive to invested amount. 

I have read & understood the above fees schedule applicable to Private Banking products & services. 

Signature ___________________________________ Dated _________________________________ 

Customer name ___________________________________ Place _________________________________ 

Account number ___________________________________ 

Please note: All prices, fees and charges of products and services detailed in this schedule are subject to change from time to time 

at the sole discretion of BMI Bank by giving prior notice to the customer.



T +973 17 508080 

F +973 17 226641 

Indemnity in respect of instructions by facsimile/email/phone 

message 

To: 

______________________________________________________________________________________ 

______________________________________________________________________________________ 

I/We: ______________________________________________________________________________________ 

______________________________________________________________________________________ 

will from time to time issue instructions through emails/facsimile/telephone. We understand that each of these instructions will be 

valid and acceptable to you on the terms and conditions hereinafter contained. 

In consideration of your agreement at my/our request to act in accordance with instructions which you receive from me/us or 

which purport to be from me/us by facsimile/email/telephone message, as the case may be and to obey the instructions I /We 

irrevocably authorize you to make any payments and comply with all instructions contained in such facsimile/email/telephone 

message instructions without any reference to or further authority from me/us and without enquiry into the justification therefore 

or validity thereof and agree that you may assume the authenticity thereof and that any payment which you shall make or 

instructions with which you shall comply in accordance or purporting to be in accordance with such facsimile/email/telephone 

message instructions shall be binding upon me/us and shall be accepted by me/us as conclusive evidence that you were liable to 

make such payment or comply with such demand. 

1. In case of facsimile message: 

I/We hereby agree that the instruction through facsimile 

message shall be acceptable to BMI Bank if it is signed as per 

our signature mandate in your records. 

2. In case of email messages: 

a) I/We agree that orders over email are acceptable to 

BMI Bank only when sent by me/us through the following 

email address/ID. 

b) I/We are fully aware of the risks in use of technology and 

shall take all necessary precautions to prevent unauthorized 

and illegal use and access of User ID and password. 

c) I/We acknowledge that if any unauthorized/third person 

obtains access to the password or PIN, then BMI Bank shall 

not be liable for any loss or damage sustained to us and we 

agree to indemnify you in respect of the same. 

d) I/We agree that all email orders from me/us will be sent 

through a single registered mail address. Any changes to 

this address will be notified immediately, in writing, signed by 

me/us or authorized signatories, to BMI Bank to safeguard 

processing of unauthorized orders. 

e) I/We will be using the following Email ID 

__________________________________________ 

3. In case of telephone messages : 

a) I/We hereby agree that if instructions are given to BMI Bank, 

then BMI Bank is authorized on our behalf only to the extent 

of placing deposits within existing limits. Any instruction for 

transfer of funds shall be accepted by BMI Bank only through 

an email message or a facsimile message. Forex instruction 

may be accepted by a telephone message. 

b) I/We understand that all instructions received by 

BMI BANK over phone will be recorded, which can be 

retrieved any time later for confirmation of the order. 

General Provisions 

1. I/We agree to indemnify you and keep you indemnified 

against all actions, proceedings, claims, demands, liabilities, 

losses, costs, charges, damages and expenses in relation to 

or arising out of any of your acts or to act in accordance 

with such facsimile/email/telephone message instructions 

and to pay or reimburse to you, on demand and in the 

currency in which the same shall have been made, suffered 

or incurred, all payments, losses, costs and expense made, 

suffered or incurred by you thereunder or is consequence 

thereof or arising thereout and I/we irrevocably authorize 

you (without prejudice to any other right you may have) to 

debit to my/our account or any of my/our accounts with 

you all such payments, losses, costs and expenses whether 

such account or accounts is or are overdrawn by reason of 

any such debit.

2. Failing payment by me/us on demand of any sum payable 

thereunder interest shall accrue thereon from the date 

of such demand until payment (as well after as before 

judgment) at the rate of 3 per cent per annum above 

the cost to you (as conclusively determined by you) of 

acquiring such funds from such sources and for such periods 

as you may from time to time decide and will be payable 

on demand. 

3. I/We further agree that I/we will indemnify you against any 

loss incurred by you as a result of any judgment or order 

being given or made for the payment of any amount due 

hereunder and such judgment or order being expressed in 

a currency other than that in which such amount is payable 

by me/us hereunder and as a result of any variation having 

occurred in rates of exchange between the date as at which 

any such amount is converted into such other currency 

for the purpose of such judgment or order and the date of 

actual payment pursuant thereto. The foregoing indemnity 

shall constitute a separate and independent obligation on 

my/our part and shall apply irrespective of any indulgence 

granted to me/us from time to time and shall continue in 

full force and effect notwithstanding any such judgment or 

orders as aforesaid. 

persons as aforesaid, any demand made by you hereunder 

on any one or more of the persons so jointly and severally 

liable shall be deemed to be a demand made on all such 

persons and none of such persons shall have or exercise in 

competition with you any rights as surety as against any 

other of them. 

5. Any demand made by you hereunder shall be in writing 

signed by any of your officers and may be served by leaving 

the same at, or sending it through the post in a prepaid 

envelope addressed to the company, firm or person on 

whom the demand is to be made at, the address last known 

to you as the registered or principal office or, as the case 

may be, place of business or abode or such company, 

firm or person, and a demand so served shall be effective 

(notwithstanding that it may later be returned undelivered) 

at the time it was so left or, as the case may be, at the 

expiry of forty eight hours after it was posted excluding 

Fridays and Bank or Public Holidays. 

6. In this Indemnity, unless the context otherwise requires, the 

singular includes the plural and vice versa and references 

to persons include references to companies or corporations 

and vice versa. 

4. Where this Indemnity is executed by or on behalf of a firm 

or otherwise by or on behalf of more than one person, any 

liability arising hereunder shall be deemed to be the joint 

and several liability of the partners in the firm or of such 

7. This indemnity shall be construed in accordance with the 

laws of Bahrain and I/we submit to the jurisdiction of the 

Courts of Bahrain. 

_____________________ 

Signed by or on behalf of 

_____________________ 

Signed by or on behalf of 

Signature: ____________________________________ 

Signature: ____________________________________ 

Name: 

____________________________________ 

Name: 

____________________________________ 

Date: 

____________________________________ 

Date: 

____________________________________

Company Details Form - C - BMI

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