Our Personal Banking products have a wide choice of benefits, offering you options to suit your requirements.
We offer a range of financial services for businesses and corporates, from bank accounts and loans to trade finance and e-commerce payment gateways.
December 12, 2018
INTERNATIONAL BANKING – FOREIGN EXCHANGE REMITTANCES
BIB provides reliable and efficient incoming transfer services through its wider ranging correspondent Banking network and foreign money transfer companies.
BIB makes foreign currency transfers to foreign beneficiaries on behalf of local customers against foreign exchange permit approved by the Bank.
Outgoing transfers are made only via SWIFT or Demand Drafts.
BIB Cashes or negotiates foreign checks/bills (such as Drafts, Checks drawn on foreign banks, Travelers’ checks. etc.).
The Bank handles foreign checks on the bases of outward bills purchased (OBP) or outward bills for Collection (OBC).