In today's globalized economy, international money transfers have become an integral part of both personal and business transactions. As economic development and cross-border trade continue to expand, individuals and corporations increasingly prioritize the security and accuracy of fund transfers. This is where the SWIFT (Society for Worldwide Interbank Financial Telecommunication) and BIC (Bank Identifier Code) systems serve as critical infrastructure for global finance.
Understanding SWIFT/BIC Codes
SWIFT codes, also known as BIC (Bank Identifier Codes), function as unique identifiers for financial institutions during international transfers. Each SWIFT code contains specific information about the recipient bank, including its country, city, and branch location. This standardized system ensures funds reach their intended destination accurately, significantly reducing risks in global financial transactions.
First Security Islami Bank PLC.: SWIFT Code Details
For those initiating transfers to First Security Islami Bank PLC. in Bangladesh, the correct SWIFT/BIC code is FSEBBDDHBNG . This 11-character code precisely identifies the bank within the international financial network, enabling secure and efficient cross-border payments.
Established in 1999, First Security Islami Bank PLC. has grown into one of Bangladesh's prominent Islamic financial institutions. Operating under Sharia principles, the bank offers diverse financial products including personal accounts, business financing, and investment services, earning recognition for its financial transparency and customer service.
Essential Bank Information for International Transfers
When preparing an international transfer, complete banking details are required alongside the SWIFT code. For First Security Islami Bank PLC., the necessary information includes:
- Bank Name: FIRST SECURITY ISLAMI BANK PLC.
- City: Dhaka
- Address: 121/2 Lutfor Rahman Lane, North, South Rd 2, Dhaka 1000
- Country: Bangladesh
Best Practices for Secure International Transfers
While SWIFT/BIC codes streamline international payments, users should exercise due diligence:
- Verify all transfer details with the recipient before initiating transactions
- Confirm the SWIFT code's validity through official bank channels
- Double-check account information, particularly for large transfers
- Be aware of common fraud schemes involving international payments
The global financial system continues to evolve, with SWIFT remaining the standard for secure cross-border transactions. Whether sending personal remittances or conducting business payments, proper use of SWIFT codes like FSEBBDDHBNG ensures funds reach their destination efficiently while maintaining financial security.