Qatar and Saudi Arabia begin reciprocal acceptance of national cards
Qatar Central Bank and the Saudi Central Bank said acceptance of Himyan cards in Saudi Arabia and mada cards in Qatar would start gradually. The two banks said technical and operational integration work had been completed.
Qatar Central Bank (QCB) and the Saudi Central Bank (SAMA) announced on 15 September that Qatar’s Himyan national payment card would be accepted in Saudi Arabia and Saudi Arabia’s mada cards in Qatar, with a gradual rollout. The announcement was made at the Money20/20 Middle East conference in Riyadh.
The central banks said acceptance would proceed in phases after technical and operational integration was completed. They said the arrangement is intended to connect the countries’ national payment systems and broaden access for cross-border payments; no timetable for the first phase or expected transaction volume was given.
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The partnership proposes four additional capabilities alongside existing remittance services.
Source: Emirates News Agency (WAM)
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