Published on Tuesday, December 28, 2010
NBK urges customers to get their IBAN before yearend
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National Bank of Kuwait (NBK) on Tuesday urged customers to get their IBAN (International Bank Account Number) via any of the bank's various delivery channels.
Kuwait will become an IBAN compliant country on January 1, 2011.
Commenting, Deputy General Manager - Operations Group, Abdulla Abu Al-Hous said "it is strongly recommended to include IBANs as part of the payment instructions applicable to all incoming and outgoing (to IBAN compliant countries) payments.
This applies to all retail, as well as corporate customers, and will assist to speed up the processing of payments.
"Customers should update both local and international beneficiary details. IBAN details will also be required when establishing new standing orders from January 1, 2011 onwards" Abu Al-Hous noted.
He added that under the new system, no outgoing payments will be made to IBAN compliant countries such as Lebanon, Saudi Arabia, Mauritius, Turkey and other EU countries amongst others, as these payments will be immediately rejected by NBK if the payment instruction does not contain an IBAN.
This will eliminate these payments being rejected by the beneficiary bank resulting in delays for the customer.
"Including IBAN details in payment instructions will be an industry-wide requirement and will not only apply to NBK" Abu Al-Hous concluded, pointed out.
Express your comment on this article
 
RAJU
Posted on Thursday, December 30, 2010
THIS IS ONLY ANNOUNCED BY NBK WHAT ABOUT OTHER BANKS IS ONLY NBK NEED IBAN NUMBERS OR IT APPLIES FOR OTHER BANKS ALSO PLS MAKE IT CLEAR MR ABDULLA ABOU AL HOUS.YOUR CLARIFICATION WILL BE APPRECIATED
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Renit
Posted on Thursday, December 30, 2010
Dear Mr.prakash, ur employer will ask ur IBAN to transfer the money to other banks. NBK & Comecial bank account holders are able to get the IBAN from website itself.(I don't know about other banks)
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MATHEW
Posted on Wednesday, December 29, 2010
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Prakash
Posted on Wednesday, December 29, 2010
IBAN required for the company or for the employee
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Renit
Posted on Wednesday, December 29, 2010
For internal transfer(eg. gulf bank to gulf bank)IBAN not required. But if ur company wants to tranfer ur salary from one bank to another(eg. Gulf bank to NBK)IBAN rquired. IBAN not required to send money to India since India doesn't follow IBAN system.
Shan
Posted on Tuesday, December 28, 2010
Is it applicable for salary transfer in Kwt?
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