What is a Currency Order?
Currency order is a payment order issued by a client to the banking system, so that accordingly the bank will proceed to withdraw the specified amount from its deposit and transfer it to beneficiary’s deposit in one of the advising banks inside or outside country.
There are two kinds of currency orders:
1- Issued Currency Orders
It is a kind of Order which is issued based on Currency Order issuing demand by the client and also according to relevant currency specified by the client. Bank, at earliest possible time and through SWIFT system, will proceed to issue Currency Order in favor of a foreign advising Bank in all over the world and/or locally.
2- Incoming Currency Orders
It is a payment order submitted from an advising Bank (i.e. Foreign and locally) to our Bank. After receiving the SWIFT, our Bank will immediately inform the receipt of the SWIFT to relevant branch, and also will provide the possibility of payment to the client. At the present time based on existing Currency regulations the beneficiary of the Order is able to save the Currency of the Order in its own accounts, sell it to the Banking system at the rate of the same day, transfer it out of country and or change it to another Currency.
There are also possibilities for accepting the Orders with reliable Currencies through SWIFT system from all over the world in our Banking system.
Steps for Order issuance:
• Refer to exchange branch
• Preparation of Currency by client
• Completion of application form for Order issue / Currency transfer
• Individual : Original and copy of Identity certificate and ID card
• Legal entities: Original and copy of legal as well as establishment documents and Identity, including association, partnership, declaration of incorporation and also original and copy of Identity certificate and ID card of directors and signatories of the company.
For obtaining further information:
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