Bahrain’s central bank has announced all bank customers in the kingdom will need to use an International Bank Account Number (IBAN) from January 31, 2012, when making or receiving electronic payments through banks within Bahrain or overseas, BNA has reported. IBAN is an account number, which is created using the international ISO standard for numbering bank accounts. “The IBAN is specially designed to identify a bank account locally as well as internationally. Furthermore, the IBAN standard contains a mechanism to check the accuracy of the IBAN of the recipient. All these features reduce errors when writing the account number of the recipient and thereby minimizing delays in processing fund transfers” said Ahmed Buhijji, director of the banking service directorate of the central bank of Bahrain.