8/9/2019 IBAN_En

1/2

IBAN

International Bank Account NumberInternational Transfers guaranteed!

Defining IBAN The International Bank Account Number (IBAN) provides a mechanism for

introducing a common account numbering standard in the Kingdom of SaudiArabia and internationally. It involves the inclusion of additional characters beforethe 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 betweenbanks by enabling the correct identification of a Beneficiary's bank account.The IBAN provides the facility for the sending bank and/or the remitter toperform a validity check of the Beneficiary's account number at another bank.

IBAN Format in Saudi ArabiaThe national standard for the IBAN in the Kingdom of Saudi Arabia, whichconforms to the international standard, will be a fixed length of 24 alphanumericcharacters 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 groupbeing 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 acontinuous string, i.e. all spaces removed.IBAN BenefitsThe major benefit to customers will be that the remitter can validate the accountnumber of the beneficiary regardless of which bank holds either account. The useof 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 allcustomers.

These benefits will be achieved without the need for a change in the basicaccount number of the customer. All banks will distribute IBANs to their new and

existing customers. We encourage customers to quote their account number in

8/9/2019 IBAN_En

2/2

IBAN format on all Invoices and requests for payment both within the Kingdomand Internationally.

SAMA registered the IBAN format for KSA with SWIFT, the internationalregistration 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 numberYou can obtain your IBAN number through the following channels:

Internet: Log in to your Al Mubasher Retail where your personal IBANwill appear on your account statement next to your original accountnumber.

ATMs: Update your mobile number through any of our ATMs around thekingdom. Log in to the mailing address menu and update your mobilenumber then you will receive an SMS that contains your IBAN.

Account Statement: You will find your IBAN on the account statementthat you receive through your mail box. Or you can visit the nearestbranch.