SWIFT/BIC codes serve as essential bridges for cross-border payments and act as a security net to ensure the safe transfer of funds. Taking BANK OF COMMERCE AND DEVELOPMENT (L.J.S.C.) as an example, we can clearly see how these codes uniquely identify banks and their specific branches worldwide.
Structure of SWIFT/BIC Codes
A SWIFT/BIC code typically consists of 8 to 11 characters, each segment carrying vital information:
- Bank Code (CDBL) : The first four characters are uniquely assigned to BANK OF COMMERCE AND DEVELOPMENT (L.J.S.C.) , ensuring its distinct identity in the financial network.
- Country Code (LY) : The next two letters indicate the bank's location in Libya, a crucial detail for international transactions.
- Location Code (LT) : These two characters specify the bank's primary operational base.
- Branch Code (012) : The final three digits identify a specific branch. If the code ends with "XXX," it denotes the bank's headquarters.
Combining these elements, the SWIFT/BIC code for BANK OF COMMERCE AND DEVELOPMENT (L.J.S.C.) is CDBLLYLT012 . This standardized identifier plays a pivotal role in global finance, facilitating secure and efficient fund transfers.
Bank Details
- SWIFT Code : CDBLLYLT
- Branch Code : 012
- Full Bank Name : BANK OF COMMERCE AND DEVELOPMENT (L.J.S.C.)
- Address : ALFURASIA INVESTMENT CLUB COMPLEX
- City : BENGHAZI
The standardization of SWIFT/BIC codes enhances transaction security while significantly improving processing speed, enabling seamless global financial operations. When conducting international transactions, correctly using these codes is fundamental to ensuring successful and error-free transfers.
Understanding the SWIFT/BIC code of BANK OF COMMERCE AND DEVELOPMENT (L.J.S.C.) provides essential support for cross-border financial activities, mitigating risks and ensuring a secure, efficient transaction process.