Bahrain Islamic Bank to Implement International Bank Account Number (IBAN) for its customers

05-October-2011

 

Bahrain Islamic Bank announced today that it had implemented the International Bank Account Number (IBAN) standard for all customer accounts as part of compliance with the ISO system.

Commenting on the implementation of IBAN, Mr. Abdul Rahman Mohamed Turki, Retail Banking General Manager said: “We are pleased to announce the implementation of the International Bank Account Number (IBAN) in response to the instructions of the Central Bank of Bahrain with the aim of increasing the efficiency of electronic transfers and payments in addition to ensuring the accuracy of local and international financial transactions.” 

Mr. Turki added: “IBAN is not a new account number but it is a unique number for each bank account with us. Our customers can familiarize themselves with their IBAN numbers by simply looking at the letter sent to them by the Bank concerning the IBAN system or by simply having access to our website at www.ebisb.com. Other methods include visiting the nearest branch or calling our Call Centre on Tel: 17515151.” 

Meanwhile, the Retail Banking General Manager said: “Effective from 31st January, 2012 all our customers have to use their IBAN numbers for all their local and overseas electronic banking transactions such as receipt of electronic transfers from a bank inside or outside Bahrain, making an electronic transfer to a bank in Bahrain, making an electronic transfer to a bank situated in a country that has adopted the IBAN system and where its use is compulsory. It is also possible to use an IBAN number for making a transfer to a person in a country that has implemented the IBAN system but its use is not yet mandatory.”

Concluding, Mr. Turki said: “The implementation of the IBAN system is a positive and advanced step which we seek to implement for all the Bank’s customers with the aim of providing the best banking service that ensures for them an enhanced and secure Islamic banking service.”