Frequently Asked Questions

What is KYC / Why do I need to fulfill KYC requirements?

As per the regulations set by Central bank of the UAE, all banks need to maintain valid identity documents / information for their customers, at all times. This helps the banks know / understand their customers and their financial dealings to be able to serve them better and manage risks prudently.

Are KYC requirements new?

No, KYC requirements have always been in place and Banks have been taking KYC documents in accordance with the guidelines issued by the Central Bank of the UAE, from time to time.

Is KYC mandatory?

Yes, it is mandatory as per regulatory requirements.

What will happen if I do not provide the required KYC documents to the Bank?

As a bank, we endeavor to provide you with the best of services at all times. However, we will be constrained to place restrictions, followed by potential discontinuation of services, or even a possible exit, of your accounts, in the absence of KYC information / documents.

What documents do I need to submit to fulfill KYC requirements?

We will be in touch with you from time to time to inform you regarding KYC document(s) requirement.

Based on the communication you receive from the bank, you may need to submit, some or all of the, following documents according to your category:

Individual Customer	Entity / Organization / Company
Latest Emirates ID Passport Visa Proof of Residential Address in UAE (Utility bill or other bank statement from last 3 months) FATCA self-declaration Form Individual Tax Residency Self Certification Form Customer Compliance Declaration – Individual	Emirates ID Card for all shareholders with >5% holding, Directors and Authorized signatories where applicable Passport for all shareholders with >5% holding, Directors and Authorized signatories Visa for all shareholders with >5% holding, Directors and Authorized signatories where applicable Proof of Operating Address in UAE (Ejari, Utility bill or other bank statement from last 3 months) Trade License or Certificate of incorporation Memorandum & Articles of Association Resolution of the Board of Directors to open an account and identification of those who have authority to operate the account FATCA self-declaration Form Customer Compliance Questionnaire - Entity Entity Tax Residency Self-Certification Form Controlling Person Tax Residency Self Certification Form

How can I submit these documents to the bank?

You have following options available to submit the required documents as per your convenience

Visit our nearest branch and submit documents to Customer Service Executives / Representatives
Contact your Relationship Manager & submit documents to them
Visit Emirates Islamic website and upload your documents (File formats supported: PDF, JPEG)

How frequently do I need to provide KYC documents?

We review our customers' records on an ongoing basis. We will get in touch with you, if your KYC document(s) need to be updated, in future. However, if any identification documents or constitutional documents have been expired, please submit a request to update bank’s records with valid and up to date documents”

Once I submit the required KYC documents, how soon will my records be updated?

Once the documents have been submitted, processing will be completed within 10 working days. For further queries & to track the status of KYC remediation request, give us a call on +971 600599995.

My account is Dormant. Do I need to provide KYC documents to activate the same?

Yes, you need to submit KYC documents to reactivate your account. Please get in touch with your Branch or Relationship Manager to initiate the process.