In order to facilitate this, the regulator will continue to provide testing facilities for firms to test the records submission process with their ARM. SWIFT is the process the Commonwealth Bank uses to send money overseas (similar to BPay used for domestic payments) and a BIC is the code that the SWIFT system uses to identify banks worldwide. Swift is owned by the network's members. EEA country has an associated BIC + IBAN, which is clearly identified and printed on all bank account statements issued after July 2003.

Country	City	Bank Name	Branch	SWIFT
Iraq	Baghdad	Islamic Regional Cooperation Bank FOR Development and Investment S A	Islamic Regional Cooperation Bank FOR Development and Investment S A	RCDFIQBAXXX