Common use of Accounts in Foreign Currencies Clause in Contracts

Accounts in Foreign Currencies. (a) The Customer may open accounts in foreign currency subject to the approval of the Bank (b) Transactions on such accounts shall take place only through Bank drafts or transfers and in the same currency of the account. (c) The Customer may deposit / withdraw from such accounts in Local Currency (Dirham) according to the rate of exchange prevailing in the same day. (d) The Customer may make transfer internally from his/ her/its accounts in Foreign Currency to his account in Local Currency and vice versa according to the rate of exchange prevailing in the same day. (e) The Customer acknowledges that the Bank shall not be liable for any currency exchange loss as a result of the transfer / movement of the balance from Foreign Currency into his/her/its account of another currency.

Accounts in Foreign Currencies. (a) The Customer may open accounts Accounts in foreign currency subject to the approval of the Bank (b) Transactions on such accounts shall take place only through Bank drafts or transfers and in the same currency of the accountAccount. (c) The Customer may deposit / withdraw from such accounts in Local Currency (Dirham) according to the rate of exchange prevailing in the same day. (d) The Customer may make transfer internally from his/ her/its accounts in Foreign Currency to his account Account in Local Currency and vice versa according to the rate of exchange prevailing in the same day. (e) The Customer acknowledges that the Bank shall not be liable for any currency exchange loss as a result of the transfer / movement of the balance from Foreign Currency into his/her/her/ its account Account of another currency.

Accounts in Foreign Currencies. (a) The Customer may open accounts in foreign currency subject to the approval of the Bank (b) Transactions on such accounts shall take place only through Bank drafts or transfers and in the same currency of the account. (c) The Customer may deposit / withdraw from such accounts in Local Currency (Dirham) according to the rate of exchange prevailing in the same day. (d) The Customer may make transfer internally from his/ her/its accounts in Foreign Currency to his account in Local Currency and vice versa according According to the rate of exchange prevailing in the same day. (e) The Customer acknowledges that the Bank shall not be liable for any currency exchange loss as a result of the transfer / movement of the balance from Foreign Currency into his/her/its account of another currency.