Abu dhabi: His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, Chairman of the Presidential Court, and Chairman of the Central Bank of the UAE (CBUAE), has inaugurated 'Jaywan', the UAE's first national card scheme. The launch marked the official commencement of nationwide card issuance by banks, licensed financial institutions (LFIs), and exchange houses, making the scheme accessible for consumers across the country.
According to Emirates News Agency, the announcement took place during His Highness's meeting with Khaled Mohamed Balama, Governor of the CBUAE, alongside Board members of Al Etihad Payments and executives from banks, LFIs, and local and international payment companies. This event underscored the robust collaboration between the CBUAE and the financial sector in supporting the 'Jaywan' national card scheme.
His Highness highlighted that the inauguration and subsequent nationwide issuance of 'Jaywan' represent a significant strategic milestone, reinforcing the UAE's sovereignty over its financial infrastructure. This initiative contributes to the development of an advanced national payments ecosystem, aligning with the country's future aspirations and the leadership's vision to elevate the UAE's global standing in financial services.
Sheikh Mansour stated, "This achievement reflects the UAE's commitment to developing a more efficient, resilient, and competitive financial sector. It unlocks broader opportunities for innovation, promotes financial inclusion, and strengthens the UAE's position as a leading global financial hub. This milestone enhances the national payments ecosystem and supports the country's digital transformation journey."
Banks and LFIs have begun issuing Jaywan cards in phases, with full issuance expected over the coming months. Jaywan cards, available in various categories, are compatible with point-of-sale terminals, e-commerce platforms, ATMs, and digital wallets. They facilitate contactless payments, online purchases, and cash withdrawals and can be used for domestic and international transactions, ensuring a secure and seamless payment experience.
Jaywan cardholders will also enjoy a comprehensive rewards program, developed in collaboration with strategic partners in sectors such as travel, retail, hospitality, and lifestyle.
Khaled Mohamed Balama, Governor of the Central Bank of the UAE, commented, "Guided by the wise leadership's vision and with the support of H.H. Sheikh Mansour bin Zayed Al Nahyan, the inauguration of Jaywan and its nationwide issuance mark a transformative milestone in UAE payment services. It showcases the financial sector's capability to translate strategic visions into advanced national solutions, aligning with the 'We the UAE 2031' vision and advancing innovative digital payments. We will continue collaborating with our partners to evolve a more advanced financial ecosystem that supports economic growth and enhances the payment experience."