Banking & finance glossary

Clear bilingual definitions of the banking and financial terms professionals use every day.

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3 terms · Last updated 13 October 2026

B

Beneficial owner

المستفيد الحقيقي

The natural person who ultimately owns or controls a customer, or on whose behalf a transaction is conducted.

Related terms: Know Your Customer, Customer due diligence

Business Identifier Code (SWIFT code) (BIC)

رمز تعريف البنك (سويفت)

A code defined by ISO 9362, 8 or 11 characters long, that identifies a financial institution in international transactions.

Related terms: International Bank Account Number

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