In today's increasingly globalized world, international bank transfers have become routine for many individuals and businesses. When conducting cross-border transactions with Egypt, using the correct SWIFT/BIC code for the Central Bank of Egypt is crucial for ensuring secure and efficient fund transfers.
Understanding the Central Bank of Egypt
Established in 1961, the Central Bank of Egypt serves as the nation's central banking authority, overseeing monetary policy and financial stability. For international money transfers involving Egyptian financial institutions, the correct SWIFT/BIC code—CBEGEGCX001—is essential for proper routing of funds to the bank's headquarters in Cairo.
Decoding the SWIFT/BIC Structure
SWIFT/BIC codes consist of 8-11 alphanumeric characters that uniquely identify financial institutions worldwide. The code CBEGEGCX001 breaks down as follows:
- CBEG : Bank code for Central Bank of Egypt
- EG : Country code for Egypt
- CX : Location code for Cairo
- 001 : Specific branch identifier
Practical Applications
This standardized code facilitates various financial operations including personal remittances, corporate transactions, and institutional transfers. When initiating international transfers to the Central Bank of Egypt, providing CBEGEGCX001 ensures accurate routing through the global financial network.
For optimal transaction processing, financial institutions recommend supplementing the SWIFT code with complete beneficiary details including:
- Recipient's full legal name
- Complete physical address
- Accurate bank account information
Security Considerations
Modern banking systems employ robust security protocols to protect international transactions. Using the correct SWIFT code is critical—errors can result in delayed or returned transfers. The CBEGEGCX001 code helps ensure funds move securely across borders while maintaining confidentiality.
As digital banking platforms grow in popularity, verifying the accuracy of SWIFT codes becomes increasingly important. Financial institutions continuously update their systems, making it advisable to confirm the current validity of CBEGEGCX001 before initiating transfers.