DIB Partners with Jaywan for Localized Payment Ecosystem

Dubai Islamic Bank (DIB) has launched a new debit card branded with the Jaywan logo. This initiative makes DIB one of the first major banks to offer the UAE’s national payment scheme to consumers.

The Jaywan card, available from July 27, 2024, enables users to make payments through a locally developed infrastructure managed by Al Etihad Payments—a subsidiary of the Central Bank of the UAE. The primary goal is to process domestic transactions within the country, reducing reliance on international payment networks.

Strategic Significance

This partnership provides Jaywan with immediate access to DIB’s extensive customer base—over 11 million accounts across its global network—significantly accelerating merchant acceptance and usage for the national scheme. As one of the UAE’s largest banks with over $115 billion in assets, DIB’s support is both commercially valuable and strategically important for establishing Jaywan as a viable payment alternative.

Payment Sovereignty Trend

The launch aligns with a global movement towards greater financial independence—seen in initiatives like Europe’s digital euro concept and India’s RuPay system. By keeping transaction data and settlement flows within the UAE, Jaywan enhances national security and resilience against external disruptions.

Part of Broader Financial Modernization

Jaywan complements other key components of the UAE’s financial infrastructure modernization—including the Aani instant payments platform launched in 2023. Together, these initiatives form the foundation for the country’s Vision 2031 digital economy agenda.

The long-term success of Jaywan will depend on wider adoption across banks and merchants, as well as continued investment in its infrastructure—making DIB’s early commitment a critical step in this journey.