The International Bank Account Number (IBAN) is a standardized international system for identifying bank accounts across national borders. The primary purpose of the IBAN is to facilitate the processing of cross-border transactions and to ensure that international payments are routed correctly. An IBAN is composed of several components: 1. **Country Code**: The first two letters represent the country where the bank is located, following the ISO 3166-1 alpha-2 code.
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