Libyan Islamic Bank Company JSC SWIFT/BIC code

SWIFT/BIC code of Libyan Islamic Bank Company JSC

The 8-character code LYIBLYLT and the 11-character code LYIBLYLTXXX refer to the same bank: Libyan Islamic Bank Company JSC. A BIC has a single purpose: it ensures that a cross-border transfer reaches the right bank. It comes up mainly for payments that cross a border or a currency.

On this page we explain how the code is put together, when you need it and which other details a transfer to or from Libyan Islamic Bank Company JSC requires. Keep in mind that the SWIFT code just identifies the bank, not the account: the account number or IBAN takes care of that.

Watch out for payment fraud

Criminals often use payment requests with new bank details, sometimes in an email that looks completely genuine. A real SWIFT code tells you nothing about whether the request is genuine: scammers use real codes of real banks.

Check changed bank details via a different channel, such as a phone number you already know. Pressure and secrecy are warning signs. When a payment was sent to the wrong account, contact your bank immediately: the sooner they act, the better the chance of a recall.

Recipients are targeted too: one known trick is an overpayment followed by a request to send back the difference to another account. A payment confirmation from the sender proves nothing.

Incoming international payments to Libyan Islamic Bank Company JSC

A sender in another country needs a few details from you. That means: your name as registered with Libyan Islamic Bank Company JSC, your account number or IBAN, the SWIFT/BIC code LYIBLYLTXXX (or LYIBLYLT) and, often, your postal address.

The sender’s bank may also ask for the bank address of Libyan Islamic Bank Company JSC. A mistake in your account number is harder to fix than it looks; copy them from your banking app rather than typing.

An incoming payment does not always land for the full amount. Fees for incoming transfers vary from bank to bank; check the price list of Libyan Islamic Bank Company JSC. Make clear with the sender who covers the fees.

Head office or branch code at Libyan Islamic Bank Company JSC?

Libyan Islamic Bank Company JSC has 2 different SWIFT/BIC codes across 1 locations. Only one is the head office code; the others identify branches.

If nobody asks you for a branch code, go with LYIBLYLTXXX. A branch code only makes sense when the recipient’s bank specifically mentions it.

Not sure which code to use? Check with the recipient. Codes are sometimes changed or retired over time, so do not rely on old paperwork.

Paying someone abroad from your Libyan Islamic Bank Company JSC account

The price of an international transfer has several parts – not just the fee on your screen. There is the fee for the transfer itself, possibly charges from correspondent banks along the way and, above all, the exchange rate markup if the currency changes.

Banks do not list their exchange rate markup separately – you only notice it if you compare. Check the rate you are offered with the mid-market rate – the rate you find on financial news sites.

For many currency pairs, a transfer service is less expensive than a traditional bank transfer – mostly thanks to the rate. Next time you send money, take a minute to compare what arrives via GoldexPay instead of going straight to your bank. You can still use your account at Libyan Islamic Bank Company JSC as the source of the money, while a cheaper service handles the conversion.

Transfer times and tracking a payment to Libyan Islamic Bank Company JSC

A SWIFT payment usually needs one to a few business days. Payments made late in the day or just before weekends and holidays usually start a business day later. Extra checks on larger or unusual payments can also cause a delay.

If the money is delayed, contact your bank for the tracking status or the UETR. Keep the payment confirmation until the recipient confirms.

If a payment has not arrived within the expected time, the sender should contact the bank that sent it. Ask the sender for a copy of the payment confirmation; that often settles the question quickly.

How up to date is this code?

We gather bank codes from public sources and check them regularly. Still, banks merge, rename themselves or change codes, so information can be out of date. The figures on this page reflect what is in our directory and not on information from Libyan Islamic Bank Company JSC itself.

Treat our data as a starting point, rather than as the final word – the bank details from the recipient are leading. GoldexPay is an independent comparison site and not part of Libyan Islamic Bank Company JSC. Found an error? Tell us through the contact page and we will look into it.

Why Libyan Islamic Bank Company JSC has an 8- and an 11-character code

The structure of a BIC is always the same: a bank code of four letters, a two-letter country code and two for the location, plus an optional branch code. For Libyan Islamic Bank Company JSC, the 8-character core is LYIBLYLT.

The full version has three more characters for a branch or department. When those three characters are XXX, the code points to the head office, which is why LYIBLYLTXXX and LYIBLYLT lead to the same place.

In practice the code is typed in capitals, without spaces or dashes. A single character may route the money to a different institution.

Before you send: check the Libyan Islamic Bank Company JSC code

Ask the recipient to copy the account details straight from their banking app. Check it with LYIBLYLT on this page and ask if anything does not match.

An incorrect BIC may lead to a delay, a payment being sent back or additional charges. An error in the account number is a bigger problem because it can reach the wrong person, so check that just as carefully.

An automatic check by your bank only tells you that the IBAN exists – not that it belongs to the person you mean to pay. Some banks now check the name with the account – do not ignore a mismatch warning. A small test payment can be worth it for large sums, even if it costs an extra fee.