A SWIFT code is an 8-11-digit code that is internationally accepted for ensuring the validity of a certain payee. To be simply put, the code acts just like a ZIP code; meaning that the fund delivery will be focused in a certain bank.
The code is more prominently used for international transfers, especially ones that include wire transfers or SEPA transfer. That being said, a valid account number should be provided as well to make the transfer to be conducted properly. For local transfers, you may not need this set of letters or letter-number combinations.
As said before, SWIFT code is an 8-11-digit letters-only code or simply one with alphanumeric combination. In case you’re a foreigner to Singapore and you intend to transfer some funds to a payee under The Islamic Bank of Asia Singapore beholding, you will need The Islamic Bank of Asia Singapore SWIFT code. The code is TIBASGSGXXX.
It turns out this code isn’t made without any consideration. The structure of this code will include four letters of the bank’s identity (TIBA), the country code (SG), and the branch code (SGXXX). The XXX is quite uncommon to use if the bank only has one SWIFT code.
Hence, in some cases, there will be banks and/or financial institutions using only 8-digit SWIFT code. If you are looking for a complete list of this bank’s SWIFT code, you can find it below.
|Detailed information about SWIFT Code TIBASGSG|
|Swift code (8 characters)||TIBASGSG|
|Branch name||THE ISLAMIC BANK OF ASIA LIMITED|
|Branch address||DBS BUILDING TOWER 1, 01-01/02, 6 SHENTON WAY|
|Bank name||THE ISLAMIC BANK OF ASIA LIMITED|
|SWIFT Code TIBASGSG Breakdown|
|SWIFT Code||TIBASGSG or TIBASGSGXXX|
|Bank Code||TIBA - code assigned to THE ISLAMIC BANK OF ASIA LIMITED|
|Country Code||SG - code belongs to Singapore|
|Location Code||SG - code represents the institution location|
|Code Status||G - G means active code|
|Branch Code||not assigned or XXX - code indicates this is a head office|