In global financial transactions, SWIFT/BIC codes serve as critical identifiers for banks and their specific branches. For anyone involved in international money transfers, understanding the structure and significance of these codes is essential. This article provides a detailed breakdown of the SWIFT/BIC code for ISLAMI BANK BANGLADESH PLC., its components, and key considerations to ensure smooth transactions.
The SWIFT/BIC Code: IBBLBDDH104
The SWIFT/BIC code for ISLAMI BANK BANGLADESH PLC. is IBBLBDDH104 . This alphanumeric sequence, typically 8 to 11 characters long, is structured as follows:
- Bank Code (IBBL): The first four letters, "IBBL," represent the bank's name, ISLAMI BANK BANGLADESH PLC.
- Country Code (BD): The next two letters, "BD," denote the country where the bank is located—Bangladesh.
- Location Code (DH): The following two letters, "DH," indicate the bank's headquarters.
- Branch Code (104): The final three digits, "104," specify the particular branch. If a SWIFT code ends with "XXX," it typically refers to the bank's head office.
For ISLAMI BANK BANGLADESH PLC., the full SWIFT/BIC code is IBBLBDDH104 , with the branch code "104" corresponding to its location in SYLHET at 288 TALTOLA.
Key Considerations for Using SWIFT/BIC Codes
To avoid delays or errors in international transfers, verify the following details before initiating a transaction:
- Bank Name: Ensure the sender and recipient bank names match exactly to prevent misdirected funds.
- Branch Information: If using a branch-specific SWIFT code, confirm it aligns with the recipient's actual branch.
- Country Code: Verify that the country code in the SWIFT/BIC code corresponds to the recipient bank's location.
By mastering the structure and application of SWIFT/BIC codes, individuals and businesses can navigate international financial transactions with confidence, ensuring timely and secure transfers.