Qatar  | عربي

QATAR goes for unique account numbers


The Qatar Central Bank which is regulating banking matters in Qatar has decided to have Qatar adopting the International Bank Account Number (IBAN) standard for Banking Account Numbers. The adoption of this international standard is foreseen for beginning of 2014.

The IBAN is an international standard for identifying bank accounts across national borders in a way that would minimize the risk of propagating transcription errors. It is used in facilitating payments and has now been widely adopted by many countries in the Middle East as well as most European countries.
 
IBAN guarantees the customers a unique international customer account number which can be used confidently in making or receiving payments nationally or internationally. It is the International accepted standard for numbering bank customer accounts and the ISO standard methodology for verifying the accuracy of the IBAN.
 
What will change for customers can be summarized as follows:
  • The existing Account number will be converted to the new IBAN number (which will contain the existing number) and it will show on all bank statements and on channels such as Internet banking, Mobile Banking,…
  • To make a transfer to an account of another person or company within Qatar, you will need to obtain their new IBAN number to be able to perform such transfer
  • If you need to receive funds from another person or company, you will need to communicate to the other party your new IBAN number.

The IBAN number in Qatar will be 29 digits long for all accounts in Qatar and look as follows:

QA01 QNBA 0000 0000 1234 1234 1234 1

Where:
  • QA indicates Qatar (all account in Qatar will start with QA)
  • 01  are security digits (differs from account to account)
  • QNBA is the bank code (example for QNB) ; each bank has a unique code of 4 letters
  • The following digits are the rest of the account number
  • For QNB, your existing account number - also called Basic Bank Account number  ‘BBAN’- is shown in the last 13 digits of the IBAN.
 
As we near implementation of the IBAN in Qatar, we will keep you informed of the key dates (when it will appear on your statements, when it becomes mandatory to use it to transfer funds to a third party in Qatar,…) and update this page accordingly.  We will also provide an IBAN simulator so you can check out by yourself how your account will soon look!
 

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