Saudi banks start the application of the international number to bank account
Al-Bayan - Al-Bayan -- 29/08/2009 29/08/2009
(MENAFN - Al-Bayan) heads the Saudi banking sector to start the application of the international figure of the bank account for the first time in the Kingdom and the Arab region, beginning next September, in a move to match the international regulatory standards for account numbers of customers.
She informed the Saudi Arabian Monetary Agency, through the Department of technical bank, all banks operating in the Kingdom to start applying technology known as «IBAN», an organization's digital customer accounts in the local banking sector.
The IBAN is the abbreviation for the concept of the international number to bank account based on international standards for bank account number, which is in standardized international customary for the length and number of boxes, account number, which makes the technical regulations of the bank be able to read these figures easily and smoothly, and then remittances are processed without errors , with the speed of implementation during the stages of the implementation of financial transfers domestically and internationally.
The aim of Monetary new step to the use of automated enforcement techniques to enhance the efficiency of direct banking services to customers and improve its performance, as well as to shorten the time period of the operational procedures for each conversion, as well as working to facilitate the processing of financial transactions for clients, to the number of boxes similar to the length of account numbers with each other , as well as for ease of reading and deal with it automatically.
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I would think Saudi banks would already have these numbers in place...shocker that they don't.
Al-Bayan - Al-Bayan -- 29/08/2009 29/08/2009
(MENAFN - Al-Bayan) heads the Saudi banking sector to start the application of the international figure of the bank account for the first time in the Kingdom and the Arab region, beginning next September, in a move to match the international regulatory standards for account numbers of customers.
She informed the Saudi Arabian Monetary Agency, through the Department of technical bank, all banks operating in the Kingdom to start applying technology known as «IBAN», an organization's digital customer accounts in the local banking sector.
The IBAN is the abbreviation for the concept of the international number to bank account based on international standards for bank account number, which is in standardized international customary for the length and number of boxes, account number, which makes the technical regulations of the bank be able to read these figures easily and smoothly, and then remittances are processed without errors , with the speed of implementation during the stages of the implementation of financial transfers domestically and internationally.
The aim of Monetary new step to the use of automated enforcement techniques to enhance the efficiency of direct banking services to customers and improve its performance, as well as to shorten the time period of the operational procedures for each conversion, as well as working to facilitate the processing of financial transactions for clients, to the number of boxes similar to the length of account numbers with each other , as well as for ease of reading and deal with it automatically.
" "
I would think Saudi banks would already have these numbers in place...shocker that they don't.