Egypt-based banks add IBAN standard for cross-border transactions

For Egypt, the IBAN consists of 29 alphanumeric characters, including two digits for the country code, two check digits, and the domestic bank account code. The check digits enable a check of the bank account number to confirm its integrity before submitting a transaction. Banks operating in the Egyptian market started to send messages to their customers with information on the IBAN code in June 2020. Customers can also communicate with customer service of their banks or use Internet banking to obtain their IBAN code.