IBAN stands for the International Bank Account Number (IBAN). An IBAN is a unique number that is generated for each and every account held with Bank Saderat Iran. The IBAN for Qatar is 29 digits in length and contain the following information; Country Code, Security Digits, Bank Identifier Code followed by your current Bank Account Number. The main purpose of IBAN is to facilitate the automatic processing of money transfers, to improve the speed and accuracy of your payment transactions.
As per the directive issued by Qatar Central Bank, Bank Saderat Iran has migrated to International Bank Account Number (IBAN) standard for customer bank accounts effective 1st January, 2014 that will run through until 30th April,2014 (as a transitional period) and effective 1 st May 2014 will become mandatory to have IBAN numbers.
In IBAN additional characters are appeared in front of the existing bank account number and the whole sequence of alpha numeric digits is known as the IBAN.
Two letters at the beginning of the IBAN, which refer to the country code.
Two numbers (in the third and fourth position of the IBAN) which represents security digits;
Four letters (after the security digits) to identify the respective bank (swift code) where the beneficiary maintains his/her account; and the last 21 numeric digits represent the beneficiary account number with leading zeros. The length of IBAN in Qatar is 29 characters.