Regulatory Alerts2015-11-12
Regulation (NAP) – International Bank Account Number (IBAN)
The Central Bank of São Tomé and Príncipe establishes the International Bank Account Number (IBAN) as a mandatory 25-digit alphanumeric standard for cross-border payment operations, replacing the previous NAP 15/2015 regulation. The IBAN structure integrates a country code (ST), control digits (68), and the existing Bank Identification Number (NIB) to ensure secure account identification. This regulation defines precise electronic and paper formats, assigns specific bank identifiers for local financial institutions, and mandates compliance through the Central Bank's Information Technology Directorate.
| Banco Central de S.T.P. | N A P <br> PERMANENT APPLICATION REGULATION | CÓDIGO |
|---|---|---|
| OG 01 |
PROPOSER(S) <br> P.M.O.G | ENTRY INTO FORCE <br> 12/11/2015 | DATE OF ISSUE <br> 12/11/2015 | DOC NO. <br> 25/2015 | FL. <br> 1/4 |
Subject: International Bank Account Number (IBAN)
Considering the need to continue the standardization process in the field of payment systems, with particular emphasis on the adoption of international standards regarding the use of payment means and instruments.
Considering, likewise, the trend and pressures pointing towards the secure identification of account numbers in cross-border operations, particularly in fund transfers.
The Central Bank of São Tomé and Príncipe, under Articles 2., 8. (paragraphs d) and k)) and 38. (paragraph f)), of its Organic Law, establishes through this regulation the International Bank Account Number (IBAN), determining as follows:
Article 1. Definition and Principles
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The IBAN is an international standard that identifies accounts of banking institutions, based on the currently valid Bank Identification Number (NIB), supplemented by a country code prefix and two control digits.
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It follows the same principles that guided the creation of the NIB in São Tomé and Príncipe, thereby allowing any bank in the country, as the ordering party, to identify the destination account number of an operation when said account is located abroad, and vice versa.
| Countersigned | Revocation Details: Revokes NAP 15/2015 of 28/07/2015 |
|---|
| Banco Central de S.T.P. | N A P <br> PERMANENT APPLICATION REGULATION | CÓDIGO |
|---|---|---|
| OG 01 | ||
| PROPOSER(S) <br> P.M.O.G | ENTRY INTO FORCE <br> 12/11/2015 | DATE OF ISSUE <br> 12/11/2015 |
Article 2. Structure
The IBAN is an alphanumeric information element of 25 digits for São Tomé and Príncipe, with the following configuration:
(Country Code) + (Control Digits) + (NIB)
PPXXAAAABBBCCCCCCCCCCDD
Where: PP…… Country Code (ISO 3166 Standard) – for São Tomé and Príncipe = ST; XX……Control Digit (MOD 97-10 (ISO 7064 Standard) = 68; AAAABBBCCCCCCCCCCDD……NIB (NAP No. 07/02 of 31/12/2002, 21 Digits)
The IBAN is indicated as follows:
ST68 + NIB
Article 3. Format
The electronic format IBAN consists of 25 alphanumeric characters without separators. Its paper representation also consists of 25 alphanumeric characters, but is structured in groups of 4 characters separated by spaces.
Examples: <u>Electronic Format</u> ST68AAAABBBCCCCCCCCCCDD
<u>Paper Format</u> ST68 AAAA BBBB CCCC CCCC CD DD
| Countersigned | Revocation Details: Revokes NAP 15/2015 of 28/07/2015 |
|---|
| Banco Central de S.T.P. | N A P <br> PERMANENT APPLICATION REGULATION | CÓDIGO |
|---|---|---|
| OG 01 | ||
| PROPOSER(S) <br> P.M.O.G | ENTRY INTO FORCE <br> 12/11/2015 | DATE OF ISSUE <br> 12/11/2015 |
Article 4. Bank Identifiers
The bank institution encoder, digits AAAA, now has the following configuration:
| Institution | Encoder |
|---|---|
| BCSTP | 0001 |
| BISTP | 0002 |
| AFRILAND FIRST BANK | 0003 |
| BANCO EQUADOR | 0004 |
| COMMERCIAL BANK | 0007 |
| ECOBANK | 0008 |
| ENERGY BANK | 0009 |
| BGFI BANK | 0011 |
Article 5. Information
The provision of information or additional clarifications regarding the application of this regulation should be directed to the Information and Information Technology Directorate of the Central Bank.
Article 6. Revocation
NAP 15/2015 of July 28, 2015 is hereby revoked.
| Countersigned | Revocation Details: Revokes NAP 15/2015 of 28/07/2015 |
|---|
| Banco Central de S.T.P. | N A P <br> PERMANENT APPLICATION REGULATION | CÓDIGO |
|---|---|---|
| OG 01 | ||
| PROPOSER(S) <br> P.M.O.G | ENTRY INTO FORCE <br> 12/11/2015 | DATE OF ISSUE <br> 12/11/2015 |
Article 7. Entry into Force
This NAP enters into force on the date of its publication.
São Tomé, November 12, 2015.
| Countersigned | Revocation Details: Revokes NAP 15/2015 of 28/07/2015 |
|---|