United Arab Emirates Mandates the Use of IBANs
Clients are advised that the Central Bank of the United Arab Emirates (UAE) recently announced that effective November 19, 2011, international bank account numbers (IBANs) will be mandatory for all payment transactions to the UAE. Failure to provide IBANs may result in payments being rejected, delayed or incurring additional charges.
For more information on payment formatting, please visit the section titled "United Arab Emirates" in J.P. Morgan's Treasury Services' Global Payment Guide 2013-2014.
For additional information regarding the use of IBANs in the UAE, please visit the FAQ on the IBAN page on the website of the Central Bank of the U.A.E.
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