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AED - United Arab Emirates Dirham

Overview

The payment processing of this currency is considered to be relatively standardised.

As per decision of the Central Bank of the United Arab Emirates, the use of a 3-character purpose code becomes mandatory as of January 1, 2018 for domestic payments in UAE. For international payments from or to the UAE, in AED or in any other currencies, the payment purpose codes will be enforced effective the 1st September 2018:

- This code needs to be populated on line 1 of the regulatory reporting field (field 77B) of the payment instruction.

Examples:

For cross-border transactions outbound from UAE: /ORDERRES/AE/purpose code

For cross-border transactions inbound to UAE: /BENEFRES/AE/purpose code

- For payments made from accounts held within BNPP France, or in case the purpose code cannot be specified in field 77B, the code needs to be indicated on line 1 of the remittance information field (field 70) of the payment instruction with /REF/ pre-coded before the 3 character purpose code as follows:

Example: F70 line 1: /REF/XXX, where XXX is a valid purpose code.

Currency Guidelines

A clear reason / purpose of payment is recommended and consists of a full written description (in English) of the nature of payment to be provided in the remittance information. For example, providing an invoice number without guiding text is considered as insufficient and can result in errors or delays.

Example: Payment of travel expenses – invoice n° 123456789.

The purpose of payment code (see Appendix XI) is mandatory and has to be added to the reason of payment. The purpose of payment code consists of a 3 character code that must be specified in Field 77B.

Examples:

For cross-border transactions outbound from UAE: /ORDERRES/AE/purpose code

For cross-border transactions inbound to UAE: /BENEFRES/AE/purpose code

Remark: for payments made from accounts held within BNPP France, or in case the purpose code cannot be specified in field 77B, the code needs to be indicated on line 1 of the remittance information field (field 70) of the payment instruction with /REF/ pre-coded before the 3 character purpose code.

Example: code “COM” must be included in F70 line 1 as: /REF/COM

Payments in AED toward the UAE

Besides the standard information, the IBAN format is mandatory (see Appendix VI).

The beneficiary’s physical full address is recommended.

Payments in AED outside the UAE

Standard information

The IBAN format is mandatory (see Appendix VI).

Instructions, technical guidelines & more

To consult the Technical Guidelines of this currency, click here

TECHNICAL GUIDELINES

To consult the Appendix(es) click here

Appendix VI: IBAN Application Rules
Appendix XI: Purpose of Payment Codes (AED)
Additional Information

• Available charge options: OUR/SHA/BEN

• Central bank of the United Arab Emirates: http://www.centralbank.ae/en/index.php