International Bank Account Number (IBAN)
IBAN or International Bank Account Number has been introduced in Pakistan on the instructions of the State Bank of Pakistan. It converts your existing account number into an internationally standardized format making it globally unique and recognizable.
The main purpose of IBAN is to facilitate the automatic processing of domestic fund transfers and remittances sent by overseas Pakistanis to improve the speed, accuracy and reliability of payment transactions.
- IBAN in Pakistan will be a 24 digit (fixed length) account number
- First 2 digits will be the Country Code
- Next 2 digits will be Check digits
- Next 4 Digits will be the Bank code
- Last 16 digits will be the customer’s account number