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Updating Company Profile in the Bank

We will update your banking details, maintain an active account, and protect against freezes. In the UAE, banks regularly conduct compliance checks (KYC/AML) and require updated information about the company: owners, activities, turnovers, clients, and sources of income. Delayed profile updates risk account freezing, transaction refusals, or closure without notice. MIRAD handles the entire process — from document collection to submission to the bank and support at every stage.

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When Bank Profile Update is Required

  • Periodic bank check (every 6–12 months).
  • Change of founders, director, legal address, statutory documents.
  • Change of licence or business activity.
  • Significant increase in turnovers or currency operations.
  • Bank request for compliance review or enhanced due diligence.

What MIRAD Service Includes

StageWhat We Do
Bank Requirements AnalysisStudy the request and list of documents
Package PreparationCompany Profile, UBO, KYC forms, MOA, licence, address
Financial InformationTurnover breakdowns, explanation letter, invoices
Cover LettersCover Letter in the required format
Submission and SupportSubmission through bank manager or online portal
Communication with BankResponding to requests, clarifications, deadline control

What We Ensure

  • Compliance with Central Bank UAE, FATF and AML requirements.
  • Maintaining a positive banking history.
  • Minimizing account freeze risk.
  • Reflecting the company's real activities in documents.
  • Support in Arabic and English for local and international banks.
Received a Request from the Bank?

MIRAD will prepare and submit all documents for profile update. We ensure correct KYC/AML processing and protect your account from freezing.

MIRAD Consultation

Where We Update Profiles

✅ Wio, RAKBank, Mashreq, ADCB, Emirates NBD, FAB, Emirates Islamic Bank, Dubai Islamic Bank, Abu Dhabi Islamic Bank, Banque Misr and others.
✅ Offshore banks (with local connection).

HowTo: How to Update a Bank Profile in UAE

  1. Receive a request from the bank or initiate an update yourself.
  2. Contact MIRAD and provide the list of requested documents.
  3. We prepare Company Profile, KYC forms, Cover Letter and financial breakdowns.
  4. Submit documents through bank manager or portal.
  5. Track review process and respond to requests.
  6. You receive confirmation and maintain an active account.

FAQ: Company Profile Update

❓ How often do banks require profile updates?
✅ Usually every 6–12 months, but some banks may request more frequently.

❓ What happens if the profile is not updated on time?
❌ Risk of account freeze, transaction refusal or closure.

❓ Can MIRAD work with offshore banks?
✅ Yes, with local connection we update profiles in offshore banks as well.

❓ Do banks require turnover explanations?
✅ Yes, with growth or change in operations banks request explanation letters and supporting invoices.

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