In the global financial system, SWIFT/BIC codes serve as essential identifiers for international transactions. The code LNCBLYLT117 uniquely identifies Libya's National Commercial Bank (NCB), a key financial institution in the country.
The National Commercial Bank, headquartered in Ajdabia at Benghazi St, Ajdabia, Al Wahat , utilizes this standardized code to facilitate international financial communications. The SWIFT/BIC system ensures accurate identification across global banking networks.
A detailed breakdown of the LNCBLYLT117 code reveals its structured composition:
• Bank Code (LNCB): The first four letters identify the National Commercial Bank.
• Country Code (LY): The two-letter designation for Libya.
• Location Code (LT): Specifies the bank's headquarters location.
• Branch Code (117): Identifies the specific branch, with "XXX" typically indicating the head office.
As a crucial participant in international money transfers, the National Commercial Bank maintains and updates its SWIFT/BIC information to ensure transaction efficiency and security. The proper use of these codes reduces risks in cross-border payments and enhances the speed of fund movements.
Financial institutions worldwide increasingly recognize the importance of SWIFT/BIC codes, which serve not only as communication tools between banks but also as foundational elements for establishing international credibility in financial markets.