ARAB BANK FOR ECONOMIC DEVELOPMENT IN, AFRICA, BIC/SWIFT Code Details
Address: AFREXIM BANK BUILDING FLOOR 5, 72B EL-MAAHAD ELESHTERAKY ST., HELIOPLIS CAIRO 11757 EGYPT
General instructions for international payments to banks in EGYPT:
Information provided by the Beneficiary: Remitter should obtain all required bank information from the Beneficiary (e.g. SWIFT BIC, account number, and beneficiary bank address).Country Requirements/RestrictionsPayment Restrictions: EGP trades can’t be booked offshore.Account Restrictions: Residents may open foreign or local currency accounts.Additional Documents: Non-residents need a letter of introduction from their bankers indicating the purpose of the account and documentary proof showing th ... that the account will be used for legitimate business.Payment Formatting Rules for EGPOrdering Customer (SWIFT MT103 F50): Include account number, full name (no initials), and address of the ordering customer. Use of initials can delay receipt of funds by the beneficiary.Beneficiary Customer (SWIFT MT103 F59): Effective 30th June 2020, 29 characters IBAN is mandatory. Include full name (no initials) and address of the beneficiary customer. Use of initials may delay receipt of funds by the beneficiary. IBAN numbers for beneficiaries with accounts in Egypt is mandatory in the payment instructions.Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with branch identifier (where required), full name, and address of the beneficiary bank.Reason for Payment (SWIFT MT103 F70): Purpose of payment is recommended.Additional InformationThe market is closed on Fridays and payments can’t be delivered with value. USD and GBP are main foreign currencies used to pay and receive funds. Read more
IBAN: In Egypt, the IBAN consists of 29 characters. The structure is EG!n2!n25!, which includes the country code 'EG', two check digits, followed by the national account number. Example: EG981234123456789123456789123.
Standard Settlement Instructions (SSI) contain the list of correspondent banks for each currency.
To track a SWIFT cross-border payment to or from ARAB BANK FOR ECONOMIC DEVELOPMENT IN, AFRICA, you need a UETR code, reference number, amount, payment date, and currency. This information is typically found in an MT103 form.
We are doing our best to demystify cross-border payments, however Ohmyfin is not responsible for any delays or losses related to usage of the information and services from our web site. Please contact your banks to receive a safe advise. ARAB BANK FOR ECONOMIC DEVELOPMENT IN, AFRICA may be a registered trademark or intellectual property owned by their respective holder. Their inclusion in this catalog is for informational purposes only and does not imply any affiliation, endorsement, or sponsorship. All rights to such trademarks are reserved by their respective owners.