On the execution of international payments to the United Arab Emirates (UAE)
Please be informed that as from 2018 the Central Bank of the United Arab Emirates (UAE) introduced mandatory requirements for specifying the "code of a payment purpose" in payment orders for the payments made to UAE banks, irrespective of the payment currency.
The "code of a payment purpose" should be specified in the payment order’s field "Information for the beneficiary" based on the payment’s purpose, following this sample:
1. code of a payment purpose;
2. payment purpose, number and date of the contract;
3. additional information..
Sample (the names of organisations and the combination of numbers in the details specified in this sample are illustrative):
/GDI/ Payment for Hawaii shoes by Contract CLB16S-SHO01 dd 10.03.2019, invoice PR190018 dd 11.03.2019.
* To see the list of "codes of payment purposes", click here. Please note that the "codes of payment purposes" may change to the order of the Central Bank of UAE.