Under this product, the Bank acts as the agent of the customer willing to import goods and services. The customer/importer deposits the full amount of the Letter of Credit to cover the import transaction. This will enable the Bank establish the Letter of Credit. The Bank then makes payment in favour of the exporter, using the client’s deposit, upon shipment of goods and submission of stipulated documents by the exporter. Under this arrangement, the Bank charges a fee/commission (Ujrah) for its Agency services.

Features

  • Zero account opening balance
  • Zero Account Maintenance fees
  • Verve debit card
  • Internet banking
  • mobile banking app
  • Email and/or SMS alert

Benefits

  • Peace of mind – Governed by globally-recognized rules issued by the International Chamber of Commerce
  • Strong Financial Standing – Reflects your capability to carry out your payment obligations

Requirements

  • Duly filled and signed Account Opening Form
  • Two (2) Specimen Signature Cards
  • Two (2) Independent and satisfactory references (completed by another Limited Liability Company or higher.
  • Two (2) recent and clear passport-size photographs for each signatory to the account
  • Certificate of Incorporation (Originals to be sighted)
  • Particulars of Directors – Form CO7 (Certified True Copy by the Registrar of Companies and originals to be sighted)
  • Memorandum and Articles of Association (Certified True Copy by the Registrar of Companies/Director of Company)
  • Board Resolution (Signed and Sealed)
  • Identification of Signatories (International Passport, Drivers License, Voters Card or National ID Card)
  • Resident Permit (Where the signatory is an expatriate)
  • Public Utility Receipt
  • Form CO2 and CAC 2.1 (originals to be sighted)
Features

Features

  • Zero account opening balance
  • Zero Account Maintenance fees
  • Verve debit card
  • Internet banking
  • mobile banking app
  • Email and/or SMS alert
Benefits

Benefits

  • Peace of mind – Governed by globally-recognized rules issued by the International Chamber of Commerce
  • Strong Financial Standing – Reflects your capability to carry out your payment obligations
Requirements

Requirements

  • Duly filled and signed Account Opening Form
  • Two (2) Specimen Signature Cards
  • Two (2) Independent and satisfactory references (completed by another Limited Liability Company or higher.
  • Two (2) recent and clear passport-size photographs for each signatory to the account
  • Certificate of Incorporation (Originals to be sighted)
  • Particulars of Directors – Form CO7 (Certified True Copy by the Registrar of Companies and originals to be sighted)
  • Memorandum and Articles of Association (Certified True Copy by the Registrar of Companies/Director of Company)
  • Board Resolution (Signed and Sealed)
  • Identification of Signatories (International Passport, Drivers License, Voters Card or National ID Card)
  • Resident Permit (Where the signatory is an expatriate)
  • Public Utility Receipt
  • Form CO2 and CAC 2.1 (originals to be sighted)