KYIV, May 8 – The National Bank of Ukraine (NBU) jointly with the Independent Association of Banks of Ukraine (NABU) has started working on joint approaches to implement ISO 13616 (International bank account number, IBAN) standard and ISO 9362 (Business identifier code, BIC) by Ukrainian banks, the central bank said.

The press service of the NBU told Interfax-Ukraine that by 2020 the use of IBAN will be mandatory for all clients of banks when they transfer money both in national and foreign currencies.