The International Bank Account Number (IBAN) is a digital code number issued for a customer’s account in the banking industry at a national level and based on international standards related to accounts, therefore achieving a nationally recognized standardized number of digits.

IBAN is issued once for each account to enable banking systems to read these numbers easily with accuracy and speed. IBAN is used effectively and safely in all direct applications and in the execution of automatic outgoing and incoming remittances, leading to the reduction of manual processes and a further reduction in the arising of errors, while reducing operational costs and improving efficiency in processing financial transfers

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