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Islamic Finance Briefing - Categorized | Banking, Compliance, Tax, Legal, Regulatory more

UAE: IBAN to be mandatory for banking transactions

Posted on 18 October 2011

The UAE Central Bank announced Monday that the International Bank Account (IBAN) numbers will be mandatory for all account holders in the UAE from November 19 to conduct any local or international transactions.
“From November 19, customers will be required to use their IBAN to complete any local or international payment transactions. Additionally, the customer will need to ensure that their IBAN is used by the sender when they receive electronic payments, both locally and internationally,” the Central Bank said………………………………………Full Article: Source

 
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