Published: 12 Apr 2012
Please be announced that the central bank of UAE has announced launch of an enhanced local electronic funds transfer system (UAEFTS). Due to this enhancement, all overseas payments instructions to UAE are required to carry IBAN (International Bank Account Number) in the beneficiary account number.
Effective Date : April 14, 2012
Reason for Change : New Regulation of UAE
Changes : IBAN Code should be used in the beneficiary account number.
Target Transactions : Overseas Payment Instructions to UAE
