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Card Business Between HBL & JCBI  
Submitted Date: 2011-06-26, 1:27 pm Submitted by: PPDD Department

Date: June 23, 2011

Himalayan Bank Limited and JCBI have signed credit card issuing and acquiring license agreement. JCB International (JCBI) is the international subsidiary of JCB, the only global payment brand and leading credit card issuer and acquirer based in Japan. Through this agreement, JCB card members will be able to use JCB credit cards at approximately 1,200 HBL merchants and ATMs starting this fall, and HBL will be the first to issue JCB cards in Nepal which is scheduled in the next year.

Being chosen as the Licensee of JCB for Nepal is an enormous honor for the bank, said Mr. Ashoke SJB Rana, CEO of Himalayan Bank Ltd. in a launching ceremony. I cannot deny that as we went through the vetting process we were very apprehensive of the thorough due diligence carried out by the JCB team to assess whether they had chosen the right partner. I think in the end they have made the right decision.

Mr. Koremitsu Sannomiya , President of JCBI, said, "We see Nepal as one of the important market for JCBI in terms of JCB Card acceptance. In order to enhance the JCB merchant network, I am extremely pleased that HBL, one of the major commercial banks in Nepal, will start facilitating JCB Card acceptance at their merchants starting this fall followed by JCB card issuance starting next year. I believe this will further increase the level of card member convenience throughout Nepal.

JCB entered this partnership with the aim of increasing convenience for over 69 million JCB card members largely based in Japan, China, Korea, Taiwan and other Asian countries who travel to Nepal. In the light of Nepal Tourism Year 2011, the nations initiative to promote its tourism sector, HBL aims to enhance services for its merchants by enabling them to attract customers traveling in Nepal with JCB cards. This will be the beginning of a new era for JCB expansion in South Asia, where there are many countries with fast-growing economies .

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