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I was asked a days ago with this question, WHAT IS BIC? Is it Bank Identifier Code? or what is it in the field of finance and accounting?

Accounting Code Research
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Question ajoutée par Rahma Akmad , Accountant-General Ledger , Sidra Medicine
Date de publication: 2013/12/06
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Mohammed Salim Allana
par Mohammed Salim Allana , Compliance and Assurance Manager , United Arab Bank

Yes you are right the BIC stands for Bank identifier code and the part of IBAN (International Bank Account number). Each account is been given a unique IBAN number by banks for receiving and paying funds through international payment and remittance systems.

 

All the central around the globe is moving towards IBAN for safe and error free international transfers.

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