BIF – Burundi Franc
BIF is considered to be a restricted currency, which implies an inherent limitation to the tradability of this currency. Fund transfers in this currency are not allowed outside of Burundi.
Besides this limitation, this currency is considered to be complex, due to the large amount of information that needs to be provided.
- Currency guidelines
Besides the standard information, the full name (written out in full, without initials, abbreviations or acronyms) and the physical full address of the beneficiary are mandatory.
A clear reason / purpose of payment is mandatory 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
Additionally, it is mandatory to provide in the remittance information:
• The beneficiary’s telephone number
• The beneficiary’s bank full address (exact branch location)
This currency does not have any decimal places.
- Instructions, technical guidelines & more
To consult the Technical Guidelines of this currency, click hereTECHNICAL GUIDELINES
- Additional information
• Available charge option: OUR/SHA/BEN
• Central bank of Burundi: http://www.brb.bi/