BIC + IBAN international bank transfers are faster, more efficient, and low-cost as they are sent directly through the SWIFT interbank network without using intermediary banks (who deduct charges or fees for their service). Main Aims of BIC2 The stated aims behind BIC2 can be summarised as follows: Removal of UK bias The BIC scheme was originally conceived as a subject classification system for the UK book trade, which led to certain subjects being given an inflated degree of detail or prominence (eg English Law) or being taken out of objectively correct hierarchical sequence (eg British history). Sometimes when you send money, bank staff may look them up for you so you may not be aware. IBAN, BIC and SWIFT explained In brief: SWIFT bank transfers are available worldwide; SWIFT codes are similar to BIC.

Country	City	Bank Name	Branch	SWIFT
Malaysia	Labuan	Cimb Bank L Limited	Cimb Bank L Limited	CIBBMYKAXXX