IBAN Implementation…

Starting today, all banks will be changing the format of the customers account to an IBAN number. What is an IBAN? IBAN is abbreviation for International Bank Account Number. The use of IBAN numbers has been standardized in many countries to facilitate the communication and processing of payment transactions. It allows for the exchanging of customer account identification in a machine-readable form.

IBANs in Kuwait will be a 30 digit number which consist of the country code “KW” followed by 2 digits know as check digits then 4 digits for the swift code of the bank then the 22 digit account number.

For more info, visit your bank to get more details.

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