Saudi Arabia: IBAN format required for Saudi Riyal (SAR) payments

Clearstream Banking¹  informs customers that effective

immediately

it is mandatory for customers who are crediting Clearstream Banking’s SAR cash account at The Saudi British Bank to specify the account number in IBAN format.

Clearstream Banking also reminds customers to state the IBAN details of the beneficiary in the respective fields of their outgoing payment instructions as well. Failure to use the IBAN in payment instructions will result in payments being rejected by The Saudi British Bank.

Updated cash correspondent bank details

Further information

For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.

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1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.