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IBAN Requirements Related To Remittance
 

For safe and fast transfers,  effective 1 November 2015, all incoming and outgoing transfers from ICBC Kuwait will require an IBAN number  as a mandatary requirement (Except international transfers to non IBAN countries).

What is an International Bank Account Number (IBAN)?

An IBAN is the account number, bank and country codes of a beneficiary in an internationally recognized structure.

Who will use IBAN?

Anyone making or receiving payments within Kuwait, whether personal or business will have to include the IBAN in the payment instructions.

- Transfers between (local and foreign) banks operating in the State of Kuwait.

- Transfers issued by (local and foreign) banks operating in the State of Kuwait to bank accounts outside the State of Kuwait in countries that apply IBAN system. Click here for the most updated list of countries for which the use of IBAN is mandatory.

- Transfers received from banks outside State of Kuwait favoring accounts at (local and foreign) banks operating in the State of Kuwait


(2017-01-06)