In the globalized world of financial transactions, SWIFT codes play a pivotal role in ensuring the security and efficiency of international money transfers. Whether your funds arrive safely and on time often hinges on selecting the correct bank and SWIFT code. This article provides a detailed overview of the SWIFT code for Islami Bank Bangladesh PLC, a key financial institution in Bangladesh, to facilitate seamless cross-border transactions.
Understanding the SWIFT Code for Islami Bank Bangladesh PLC
Islami Bank Bangladesh PLC, a prominent financial entity in Bangladesh, operates internationally using the SWIFT code IBBLBDDH103 . The first eight characters, IBBLBDDH , identify the bank and its country (Bangladesh), while the suffix 103 may denote a specific branch or service, enabling precise processing of transactions.
The bank's headquarters is located in the bustling port city of Chittagong, with its official address at:
JAKS Shopping Complex, 316 Sheikh Mujib Road, Chittagong, Chittagong, 4000, Bangladesh.
The Importance of SWIFT/BIC Codes
A SWIFT/BIC (Bank Identifier Code) is a unique alphanumeric string, typically 8 to 11 characters long, that identifies a specific bank and, in some cases, its branch. These codes are essential for routing international payments accurately. However, SWIFT codes can be updated periodically, so it is crucial to verify the latest information with the recipient before initiating a transfer to avoid delays or misdirected funds.
Key Verification Steps for International Transfers
To ensure a smooth and secure international transaction, consider the following:
- Confirm the bank name: Ensure the provided bank name matches the SWIFT code exactly, avoiding abbreviations or misinterpretations.
- Verify branch details: In large cities, multiple branches may share the same bank name, so confirming the specific branch through the SWIFT code is critical.
- Check the recipient’s country: Double-check the destination country to prevent errors in international transfers.
While these steps may seem minor, they are fundamental to the success of any cross-border payment.
A Globalized Financial Landscape
As economic globalization continues to expand, international payments and fund transfers have become increasingly common. Despite advancements in technology and banking systems, meticulous attention to detail remains the best safeguard against complications. Before initiating your next international transfer, take a moment to verify the SWIFT code—ensuring your funds reach their destination securely and without delay.