IBAN announcement
In compliance with UAE Central Bank regulations, we are pleased
to inform you that National Bank of Fujairah has successfully
applied the International Bank Account Number (IBAN) to all
customer accounts. It would be used for all inward and outward
remittances within the UAE, WPS salary payments within the UAE as
well as inward remittances from outside the country.
IBAN is an international banking standard used to identify bank
accounts (excluding credit cards). Its main purpose is to
facilitate the automatic processing of money transfers and to
improve the speed and accuracy of payment transactions.
Effective from 19th Nov 2011, all banks in the UAE
are required to process and accept payment instructions using IBAN.
Consequently, you will be required to provide an IBAN for all
instructions of value when making payments from or receiving
payments to your account. Do communicate your IBAN to all parties
from whom you are expecting remittances.
In case the IBAN is not used, the processing of both inward and
outward payments to your account IS LIKELY TO BE REJECTED OR MAY be
delayed WITH additional processing charges as may be prescribed by
the Central Bank from time to time.
If you have standing orders for effecting payments from your
account to beneficiary account(s) held in banks within the UAE
other than NBF, you will need to provide the IBAN equivalent for
the beneficiary account(s).
All NBF payment/instructions submission channels have also been
enhanced to accept IBAN.
Feel free to contact us if you have questions,
and we thank you for banking with us.