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Worldwide inter-operability for microwave access (WiMAX) is a promising technology that provides high data throughput with low delays for various user types and modes of operation. While much research had been conducted on physical and MAC layers, little attention has been paid to a comprehensive and efficient security solution for WiMAX. We propose a hybrid security solution combining identity-based cryptography (IBC) and certificate based approaches. We provide detailed message exchange steps in order to achieve a complete security that addresses the various kind of threats identified in previous research. While attaining this goal, efficient fusion of both techniques resulted in a 53% bandwidth improvement compared to the standard's approach, PKMv2. Also, in this hybrid approach, we have clarified the key revocation procedures and key lifetimes. Consequently, to the best of knowledge our approach is the first work that unites the advantages of both techniques for improved security while maintaining the low overhead for WiMAX.