4-10-2014 Newshound Guru Millionday SWIFT code is a standard format of Bank Identifier Codes (BIC) and it is unique identification code for a particular bank. These codes are used when transferring money between banks, particularly for international wire transfers. the news of Iraq developing or at least the (BIC) working on their codes came out a little while ago...they announced that they were working on it as they began the banking reform. 0000ff]Western Union set up shop last year?] they began with a meeting and showed up to get it rolling but -- they have been able to transfer limited and not from back and forth internationally etc -- not all services due to not having internationally recognized currency. The code of Iraq [is now]given and listed as operational. so this means that the western union service is done and ready in Iraq. ...now this is something to be excited about.