Friday, October 22, 2021

27 Sudanese banks pass IBAN exams

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According to the Central Bank of Sudan, 27 commercial banks have passed the International Bank Account Number (IBAN) tests and that only 11 banks remain.

Khartoum: Change

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The Central Bank of Sudan confirmed that 27 commercial banks have passed the IBAN tests, which enables them to deal through it to receive and send remittances to and from abroad.

The bank revealed the receipt of a number of transfers through the international bank account number (IBAN) for clients of some banks.

In a press statement on Wednesday, he said that the IBAN is intended for use without any obstacles, which was confirmed by tests with the “Swift” organization.

In addition to confirming the inclusion of Sudan in their monthly bulletin, in addition to special bulletins for financial companies.

He confirmed that 27 commercial banks have passed the IBAN tests and that only 11 banks remain, so it can be said that all banks implemented the project with a 100% success rate.

And he indicated that the remaining banks are working on implementing the latest tests, which entail modifying the formula of their banking systems and amending and merging accounts.

Including banks that have retested their IBAN numbers and are now in the process of being amended.

In its statement, the Central Bank referred to the advantages of the IBAN represented in standardizing bank account standards and increasing the efficiency of banking operations.

In addition to compatibility with international banking systems, facilitating money transfers with more speed, higher accuracy and lower cost.

Facilitate the processing of cross-border and internal transactions and the exchange of account identification details in an automated manner.

As well as facilitating the verification of the correctness of the account number of the beneficiary and the real beneficiary, and compliance with the requirements and controls.

It also helps reduce the cost of incoming and outgoing remittances, especially with 79 countries that operate with IBAN.

He explained that if IBAN is not used, the transfer tariff will increase, as well as reducing the information and data required when making transfers.

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