Qatar Central Bank Launches 'Himyan' Debit Card

Qatar Central Bank Launches 'Himyan' Debit Card By Fathimath Nasli - March 31, 2024
Qatar Central Bank Launches Himyan Debit Card

Himyan Debit Card

In line with the Third Financial Sector Strategy, and in the framework of developing the country's digital payments infrastructure, Qatar Central Bank (QCB) announced the official launch of Himyan Debit Card (Himyan).

The launch marks a qualitative addition to e-payment solutions available in Qatar and enriches offerings for local bank customers, while contributing to the promotion of financial inclusion in the country, and bringing progress toward its transition to a cashless society. The Third Financial Sector Strategy aims to build a financial market that leads regionally in innovation, efficiency and investor protection while enabling the country to unleash its full economic potential in line with the Qatar National Vision 2030.

Himyan is the first national e-card with a registered Qatari brand owned by QCB. The card embodies one of the Bank's pioneering national initiatives and comes as part of its ongoing endeavor to develop the digital payments infrastructure that can be leveraged to introduce new products to meet the growing demand for FinTech services. In addition, Himyan promotes Qatari brands in the local market, with a design that is based on international standards and best practices while utilizing the latest technologies.

Himyan has several unique advantages over those offered by similar local cards in other countries. In addition to being a registered Qatari brand, the Card is linked to its holder's personal accounts at local banks, with lower transaction costs for card issuers, collectors and merchants. It also supports contactless transactions, with all transactions made locally via the national network "NAPS". Himyan also uses smart chip technology and PIN codes. As a result, it provides flexibility for customers and enhances protection and security. This is in line with one of QCB's key strategic objectives: preserving customers' data and protecting their financial information.

Using Himyan, local bank customers can also withdraw funds locally from all ATMs in the country, along with the possibility of depositing money through ATMs that support deposit services for cash and cheques. It also enables local bank customers to make payments at all points of sale across the country as well as through local online shopping sites 24/7 without interruption, via QPAY's payment portal.

Local banks will issue Himyan cards to all their bank account holders. Customers can apply for Himyan directly through the bank's card issuing channels. The first-time issuance of the card to local bank customers is offered free of charge.

The following banks will offer Himyan to their customers: Qatar National Bank, Doha Bank, Masraf Al Rayan, Qatar Islamic Bank, Dukhan Bank, and Qatar International Islamic Bank, Commercial Bank.

It is worth mentioning that Qatar has consolidated its position as a regional financial hub owing to the sound financial policies and frameworks it has put in place. The Third National Development Strategy, the final phase toward achieving the Qatar National Vision 2030, aims to accelerate and promote technological innovations across sectors and fields, including expanding electronic payment channels.

Source: QNA

By Fathimath Nasli - March 31, 2024

Leave a comment