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Preamble
Whereas the Customer wishes to deal with Emirates Islamic Bank in order to open an account/accounts, or obtain a banking service, and whereas the bank accepted hereof, the two parties have agreed that these conditions and provisions shall be construed in accordance with the Memorandum and Articles of Associations of the Bank, its by laws and regulations, the UAE Central Bank's Instructions, the Fatwas issued by the Fatwa and Shari'a Supervision Board of the Bank and the provisions of noble Islamic Shari'a. Should there be any discrepancy between the Arabic and English texts, the Arabic version of the text will prevail. The two parties have mutually agreed to implement the following Terms & Conditions:
Definitions
The following words and expressions shall have, whenever mentioned herein, the meanings shown against each of them:
The Bank: Emirates Islamic Bank (EIB) or any of its branches or its successors and assigns.
The Customer: The Account holder (Individual or Commercial) or any person who requests banking services from the bank or its successors and assigns.
Banking Transactions: Includes the contracts of opening current, savings and investment deposit accounts, as well as all other type of accounts and the banking services customarily provided by Islamic Banks.
First - The General Terms and Conditions
1. Account Opening
2. Account Number
3. Specimen Signature
4. Deposits and Withdrawals
5. Collections and Remittances
6. Statements of Accounts/Addresses/Details
7. Standing Orders & Instruction by Fax
8. Adjustment of Entries
9. Fees & Banking Services Charges
10. The Bank’s Rights of Accounts set-off & Securities
11. Accounts in Foreign Currencies
12. Conditions of Joint A/C (Individuals Only)
13. Conditions relating to Companies, Establishments and Organizations accounts
14. Conditions Relating to Accounts of Societies, Clubs and similar organizations
15. Other General Conditions
16. NETWORK Card
17. Telephone Banking Service
18. Applicable Laws & Jurisdiction
19. Acceptance of the Terms & Provisions
Second - Special Terms and Conditions
a) Current Account
b) Investment Saving Account
c) Investment Time Deposit Account
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