Common use of Current Account Clause in Contracts

Current Account. (a) Definition: It is an interest - free call deposit account (Qard Hassan), that is governed by the rules applied to loans with respect to guarantee to repay an equal amount on demand. it does not participate in investment profit nor bear risks. (b) Persons entitled to open current account: Any person may open a current account if he/she is UAE national or legally resident in the UAE according to the regulations and instructions of the Central Bank and these terms and conditions.

Current Account. (a) DefinitionDefinition: It is an interest - free call deposit account (Qard Hassan▇▇▇▇ ▇▇▇▇▇▇), that is governed by the rules applied to loans financing with respect to guarantee to repay an equal amount on demand. it It does not participate in investment profit profit nor bear risks. (b) Persons entitled to open current Current account: Any person may open a current Current account if he/she is UAE national or legally legal resident in the UAE according to the regulations and instructions of the Central Bank and these terms and conditions.

Current Account. (a) Definitiona. Definition: It is an interest - free call deposit account (Qard Hassan), that is governed by the rules applied to loans financing with respect to guarantee to repay an equal amount on demand. it It does not participate in investment profit profit nor bear risks. (b) Persons entitled to open current account: Any person may open a current account if he/she is UAE national or legally resident in the UAE according to the regulations and instructions of the Central Bank and these terms and conditions.

Current Account. (a) Definitiona. Definition: It is an interest - free call deposit account (Qard Hassan▇▇▇▇ ▇▇▇▇▇▇), that is governed by the rules applied to loans financing with respect to guarantee to repay an equal amount on demand. it It does not participate in investment profit profit nor bear risks. (b) b. Persons entitled to open current Current account: Any person may open a current Current account if he/she is UAE national or legally legal resident in the UAE according to the regulations and instructions of the Central Bank and these terms and conditions.