SBYB offers dedicated bank accounts for charitable and humanitarian organizations and associations, designed to facilitate their financial operations with complete security and transparency. These bank accounts include:
• Current accounts for non-profit NGOs
• Investment deposit accounts
Service Features:
• Account opening in local currency and other foreign currencies specified by the bank, without any fees or commissions.
• Free account opening in the name of the approved organization.
• A checkbook is available.
• Customers can benefit from buying and selling transactions at competitive prices.
Documents required to open an account for associations and National organizations(NNGOs)
- An official letter requesting the account opening.
- A letter issued by the Ministry of Social Affairs and Labor confirming the entity's identity and authorizing it to open the account, specifying those authorized to sign and manage the account in accordance with the terms and conditions of its bylaws.
- A true copy of the bylaws /contract of association, duly certified and authenticated by the relevant official authorities.
- A true copy of the business license.
- A true copy of (a valid national ID or family card or a valid passport) for those authorized to manage the account.
- A copy of the ID of the founders/board of trustees/administrative body.
- Two color photos 4x6 for those authorized to manage the account.
Terms and Conditions for Opening an Account
- Completing the account opening application form and signing it by those authorized to manage it
- Submitting the documents required above
- Those authorized to manage the account must be at least 18 years old
Documents Required to Open an Account for INGOs and Associations
- An official letter requesting opening the account.
- A letter issued by the government agency responsible for opening the account, specifying the persons authorized to sign and manage the account, in accordance with the terms and conditions of its bylaws.
- A true copy of the bylaws.
- A true copy of the cooperation agreement with the government.
- A true copy of the valid IDs of those authorized to manage the account.
- A copy of the IDs of the founders/board of trustees/administrative body.
- Two color photos 4x6 for those authorized to manage the account
Terms and Conditions for Opening an Account for INGOs and Associations
- Complete and sign the account opening application form
- Submit the required documents above
- The account applicant must be at least 18 years old
Requirements for Opening a Current Account for International Organizations and Associations
- A memorandum from the Permanent Office of the United Nations requesting the account opening.
- A true copy of the approval decision issued by the Yemeni government.
- A true copy of the bylaws.
- A true copy of a valid ID of those authorized to manage the account.
- A copy of the ID of the founder(s)/Board of Trustees.
- Two color photos 4x6 for those authorized to manage the account
Terms and Conditions for Opening an Account for International Organizations and Associations
- Complete and sign the account opening application form by those authorized to manage it
- Submit the required documents
- Those authorized to manage the account must be at least 18 years old
Investment Deposit Accounts:
Non-profit legal entities can open term deposit accounts with the bank and earn a profit over a specified period. These funds are managed and invested in accordance with Islamic Sharia principles on behalf of the client, achieving expected profit rates.
Service Features:
- Open an account in local currency and any other foreign currency specified by SBYB, without any fees or commissions.
- Manage and invest your funds and earn appropriate returns in accordance with the provisions of Islamic Sharia.
- Confidentiality and security.
- Automatic renewal is possible.
- Investment terms vary between three months, semi-annually, or annually.
Terms and Conditions for Opening an Investment Deposit Account:
- Open a bank account
- Complete the investment deposit application form and have it signed by those authorized to manage the account
- Those authorized to manage the account must be at least 18 years old
- The minimum amount for linking an investment deposit is 1,000,000 Yemeni riyals or its equivalent in other foreign currencies
