Qatar Central Bank (QCB) on 5 November 2022, launched "Himyan", the first national prepaid card with a registered Qatari brand in Qatar. This comes as part of the central bank's efforts to develop electronic payment services and enhance financial inclusion in the country.

Himyan is the first national prepaid card with a registered Qatari brand in Qatar. This comes as part of #Qatar_Central_Bank efforts to develop the electronic payment services and enhance financial inclusion in the country. pic.twitter.com/KRQ4goSiLL

— مصرف قطر المركزي (@QCBQATAR) November 5, 2022

The National Payment Card (Himyan)

Himyan is a registered trademark and the first Qatari national prepaid debit card. Named after the money bag used by merchants in ancient Arabia, it is similar to electronic cards issued by global payment networks.

• No minimum account balance required for issuance.
• Contactless.
• Supports/allows transactions at all sale points, ATMs and local online shopping websites.
• Can be issued by banking and nonbanking customers to promote financial inclusion.
• More secure since transactions are made locally via the NAPS network.
• Lower transaction fees for issuers, acquirers and merchants.

As per QCB, the card will be launched soon.

Source and cover image credit: Qatar Central Bank

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Vrinda Abilash

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