Ask for your IBAN

January 2010

International Bank Account Number (IBAN) is a standard account number which is developed within the framework of European Union Regulations. The main purpose of IBAN is to facilitate automatic processing of money transfers, prevent delays and any extra costs due to the use of wrong account numbers in money transfers. IBAN was created to facilitate electronic banking transfers through the clear and precise indication of the beneficiary account number in transfer orders. IBAN has also allowed sender banks to verify the validity of the provided beneficiary account number.

In countries that use IBAN, an IBAN is generated for each of the bank account numbers. It includes the two check digits which are calculated with a specific mathematical algorithm. When a customer, who intends to make a payment transfer, gives the beneficiary’s IBAN to the sender bank, the sender bank will validate the check digits of IBAN before the payment transfer reaches the beneficiary’s bank. Therefore if the beneficiary’s IBAN is incorrect, the payment transfer will be stopped before transmitting it to the beneficiary’s bank.
IBAN mandatory for all money transfers in Lebanon
The implementation and the use of IBAN for all domestic and international money transfers will begin on January 1st, 2010 and will become mandatory starting July 1st, 2010 according to Banque du Liban Regulation No. 10120 dated April 14, 2009.
From this date, money transfers that do not include the beneficiary’s IBAN will not be accepted thus resulting in a delay for the receiver of the funds and, in some cases, rejection.

IBAN Structure
IBAN is an alphanumeric sequence used internationally to uniquely identify each individual bank account of a client.
The length and structure of the IBAN vary between countries, provided it must have a fixed length of no more than 30 digits and a Bank Identifier in a fixed position. The length, format and elements of the remaining part are determined by the country itself.
The Lebanese IBAN consists of a compound number of 28 alphanumeric digits and is demonstrated in the following example:

Example of IBAN:
- BBAC Account number: 011 - 123456 - 007
- Paper Representation of IBAN: IBAN LB12 0028 0000 0000 0011 2345 6007
- Electronic Representation of IBAN: LB12002800000000001123456007

IBAN for BBAC clients
All clients holding accounts with BBAC are assigned an IBAN for each account. Your IBAN is shown on the account statements, which you receive periodically.
If you do not already know your IBAN you may contact your branch to obtain details.

For more information, please phone BBAC call center 04 727 747.