Board Resolution
Date: ………………………..
Bahrain Islamic Bank
Dear Sirs,
We the undersigned ……………………………………………………………………………. of
CR: ..................…, voluntarily and irrevocably hereby certify and confirm that the following is a
true copy of a Resolution duly passed by the Board of Directors of this Company,
1. ……………………………………………………………………………………………..
2. …………………………………………………………………………………..................
3. ……………………………………………………………………………………………..
4. ……………………………………………………………………………………………...
in accordance and in compliance with the Law, the rules and the Memorandum and Articles of
Association of the Company, at a meeting duly held on ……………………….
Resolved
1. That a current account or other accounts to be opened with Bahrain Islamic Bank (the Bank),
and the following official(s) of the Company:
1. …………………………………..
2. …………………………………..
3. …………………………………..
4. …………………………………..
is/are authorized to sign Singly on behalf of the Company (each as per the limit of his/her
authority) and the Bank is to act on any instructions so given by the above named designated
officer(s) relating to opening, closing and operating of the account or other accounts or
transactions of the Company. The above-designated officer(s) is/are empowered to:
1.1 Apply for Cheque Books, draw cheques, accept bills of exchange and make promissory
notes on behalf of the Company authorizing the Bank to debit the Company’s account or
other accounts with the amount of all such cheques, bills of exchange and promissory
notes whether such account or other accounts are for the time being in credit or
overdrawn.
1.2 Give instructions of any nature involving but not limited to withdrawal from the
account/accounts, issuing standing orders, debit the Company’s account or any other
instructions, and generally do all acts in matters relating or incidental to the operation of
the Company’s account or other accounts with the Bank.
1.3 Purchase, exchange, sell or otherwise deal in or with any stock, bonds or other securities.
2. That the Bank be furnished with the names of the authorized signatories of the Company and
the limit of their authorities whether such signatories are directors or officers of the Company
and with specimens of their signatures and that the Bank be notified immediately in writing
signed by an authorized signatory of the Company of any changes which may from time to time
take place in these details or changes in the Memorandum and Articles of Association, or any
other document of incorporation. It shall be our responsibility to ensure that such notice is
delivered to the designated person in the Bank who shall acknowledge receipt of such
instructions by signing and returning a copy of such notice to the Company, and that until
receipt of such notice as aforesaid, the Bank will continue to treat the last instructions received
Signly
in connection therewith as correct. The Bank shall be given reasonable time to communicate
such changes to the appropriate operating departments of the Bank, its officers, branches and
correspondents as it may deem to be concerned or affected thereby.
3. For the purpose of achieving the objects of the Company as stated in its Memorandum the
Board further resolved that the above designated officer(s) is/are also authorized to:
3.1 Borrow money from time to time on behalf of the Company with or without security, to
execute the required documentation(s) and give security or securities of whatever nature
to the Bank on such terms and conditions mutually agreed between the Bank and the
Company.
3.2 Apply on behalf of the Company for letters of credit or enter into any type of credit
facilities agreements, execute and deliver to the Bank such negotiable or non-negotiable
instruments, indemnities, guarantees or other agreements, obligations, assignments,
endorsements, hypothecations, mortgages, pledge receipts, no objection letters enabling
the bank to sell real estates, power of attorney’s to sell real estates or any other properties
and execute any other security documents that the Bank may deem to be necessary or
desirable to secure granting and repayment of any facility amount due to the Bank.
3.3 Apply to the Bank for renewal, extension, restructuring, increase or decrease the amount
of such credit facility/ies on such terms and conditions as may be determined by the Bank.
3.4 Apply for Corporate Internet Banking / Digital Banking “ebanking” facilities.
No Name of Single User Mobile Number Email
( Full access/Approver User) in the
ebanking
1