SIBL arranges launch of SWIFT payment pre-validation

Social Islami Bank Ltd arranged a launching ceremony for SWIFT payment pre-validation at the bank's head office in Dhaka today.

Zafar Alam, managing director and CEO of the bank, chaired the programme, where Sido Bestani, managing director of SWIFT for Middle East, Africa, South and Central Asia, was present as chief guest, said a press release.

This initiative positions SIBL as one of the pioneering banks to go live with SWIFT payment pre-validation.

By leveraging SWIFT's API technology and utilising top-tier data sources, the bank can now verify crucial information before executing cross-border payments.

Among others, Mohammad Forkanullah, deputy managing director, Akmal Hossain, head of international division, Kiran Shetty, chief executive officer and regional head for India and South Asia, and Arpita Ghosh, country manager for Bangladesh, were present.