Who is eligible for opening domestic deposit accounts?

The followings are eligible to maintain a local currency account:

• Individuals — either for themselves or for the earmarked type of account;
• Individual traders (sole proprietorship);
• Private Limited Companies (PLCs);
• Cooperatives, Unions, Associations, ‘Idirs’, ‘Iqubs’. SMEs and clubs;
• Financial Institutions (Banks, Micro Finance Institutions, Insurance companies, etc.);
• Organizations legally incorporated in the form of partnership, share company etc;
• Federal, regional state governments and their parietals and city administrations:
• Public and private learning institutions;
• International/foreign organizations;
• Nongovernmental organizations (NGO’S) – local or foreign;
• Public enterprises;
• Religious organizations;
• Joint ventures;
• Any other legal entity that can produce a legal document or letter from the concerned authorities can be eligible to open an account.