Doha: Qatar Central Bank (QCB) Governor H E Sheikh Abdullah bin Saoud Al Thani has said that the international bank account number (IBAN) will be adopted early next year as a standard for identifying and numbering all bank accounts in Qatar.
In a press statement yesterday, the QCB governor said that the new IBAN system will apply to all accounts in banks operating in the country, a matter which underscores keenness of the bank to adopt best global practices in the banking and money transfer sectors. This is part of the comprehensive strategy calling for the adoption of modern technology to enhance systems and improve services for customers, it said.
The IBAN meets ISO standards and aims to enhance the effectiveness of and safety measures for electronic payment systems in the transfer of funds locally and internationally.
QNA
