IBAN

International Bank Account Number

International Transfers guaranteed!

Defining IBAN
The International Bank Account Number (IBAN) provides a mechanism for
introducing a common account numbering standard in the Kingdom of Saudi
Arabia and internationally. It involves the inclusion of additional characters before
the basic account number enabling the validation of customer account numbers
by other banks and customers with benefits accruing for both domestic and cross-
border payments.

The IBAN helps the Straight-Through-Processing (STP) of payments between

banks by enabling the correct identification of a Beneficiary's bank account.
The IBAN provides the facility for the sending bank and/or the remitter to
perform a validity check of the Beneficiary's account number at another bank.

IBAN Format in Saudi Arabia

The national standard for the IBAN in the Kingdom of Saudi Arabia, which
conforms to the international standard, will be a fixed length of 24 alphanumeric
characters made up as follows:

2a [country code] 2n [check digits] 2n [bank identifier] followed by 18c [the basic
account number preceded by zeros, if required]

When printed, the IBAN will appear in groups of four characters with each group
being separated by a blank space to increase the readability of the IBAN when
presented on paper. When used electronically the IBAN should be input as a
continuous string, i.e. all spaces removed.

IBAN Benefits

The major benefit to customers will be that the remitter can validate the account
number of the beneficiary regardless of which bank holds either account. The use
of IBAN should almost totally eliminate the incidence of payments being rejected
/ returned by the account holding bank and the subsequent additional work for
the remitter. IBAN will facilitate the greater use of Internet payments by all
customers.

These benefits will be achieved without the need for a change in the basic
account number of the customer. All banks will distribute IBANs to their new and
existing customers. We encourage customers to quote their account number in
IBAN format on all Invoices and requests for payment both within the Kingdom
and Internationally.

SAMA registered the IBAN format for KSA with SWIFT, the international
registration body for IBAN. SWIFT will then publish the KSA IBAN format in the
IBAN Registry which is available to all banks worldwide.

Get your IBAN number

You can obtain your IBAN number through the following channels:
ƒ Internet: Log in to your “Al Mubasher Retail” where your personal IBAN
will appear on your account statement next to your original account
number.
ƒ ATMs: Update your mobile number through any of our ATMs around the
kingdom. Log in to the mailing address menu and update your mobile
number then you will receive an SMS that contains your IBAN.
ƒ Account Statement: You will find your IBAN on the account statement
that you receive through your mail box. Or you can visit the nearest
branch.