Purpose of Payment Requirement for All International Transfers
At National Bank of Kuwait - Bahrain, we have an ongoing commitment to provide our valued clients with the highest quality of service. As part of our commitment, we are keeping you informed of a regulatory change that with reference to handling international outbound transfers originating from Bahrain and inbound international transfers to Bahrain.
In line with Central Bank of Bahrain requirements, all customers are required to state the “Purpose Code” for all transfers effective from 31st May 2021.
Any outbound transfer request without a “Purpose Code” will not be executed in line with the regulatory requirement.
You are kindly requested to ensure that the correct “Purpose Code” is provided when initiating any outbound transfer.
Inbound international transfers will be rejected, if the “Purpose Code” is not stated in the transfer SWFIT.
To view the Purpose of Payment Codes.