Oman Launches National Fintech Strategy

Muscat, 22 Sep 2026 (ONA) — The Sultanate of Oman today
launched the National Fintech Strategy and Oman Fintech Portal. The move aimed
at accelerating responsible financial innovation, attracting investments and
specialized talent, empowering entrepreneurs, and strengthening the Sultanate
of Oman’s position as a competitive and trusted fintech destination with global
connectivity.

This launch, undertaken by the Central Bank of Oman (CBO) in
strategic partnership with the Financial Services Authority and the National
Programme for Fiscal Sustainability and Financial Sector Development “Estidamah”
at the Ministry of Finance, embodies coordinated national efforts developed in
close cooperation with the Ministry of Commerce, Industry and Investment
Promotion, the Ministry of Transport, Communications and Information
Technology, the Telecommunications Regulatory Authority, the Authority for
Small and Medium Enterprises Development, “Invest Oman,” and other
partners across the public and private sectors.

These institutions are joining efforts to fulfil a clear
national ambition: to build a future-ready financial ecosystem that harnesses
technology to expand opportunities, facilitate access to financial services and
elevate their efficiency and quality, enhance national competitiveness, and
drive the Sultanate of Oman’s transition towards an innovative, diversified,
and sustainable digital economy, in alignment with Oman Vision 2040.

The National Fintech Strategy provides an integrated framework
for translating this ambition into measurable outcomes. It charts a unified
national direction for developing the fintech ecosystem in the Sultanate of
Oman, harmonizes the priorities of relevant entities, and sets out a methodical
roadmap for coordinated implementation.

The Central Bank of Oman will oversee the implementation of the
Strategy and coordinate national efforts with relevant entities, while each
institution continues to exercise its legally mandated competences and its
policy and regulatory responsibilities. A disciplined governance and
implementation framework will reinforce accountability, measure progress, and
ensure that strategic priorities are translated into tangible economic and
social value.

Ahmed Jaafar Al Musalmi, Governor of the Central Bank of Oman,
stated that the launch of the National Fintech Strategy marks a pivotal step in
the Sultanate of Oman’s financial transformation journey. Its impact extends
beyond the adoption of new technologies, as it embodies a national commitment
to building a more innovative, inclusive, and competitive financial system,
better equipped to anticipate the needs of a rapidly evolving digital economy.

He added that the ambition goes beyond the Sultanate of Oman
responding to transformations shaping the future of the financial sector, to
contributing to shaping its contours. The integration of regulation,
technology, investment, and entrepreneurship within a coherent national
framework would create the conditions for responsible innovation to move from
concept to market, and for promising ideas to become scalable solutions that
deliver tangible value for individuals, businesses, and the economy as a whole.

The Governor affirmed that there is no conflict between
innovation and stability; each reinforces the other when grounded in sound
governance, proportionate regulation, and effective institutional coordination.
The Central Bank of Oman’s responsibility lies in fostering an environment that
enables innovators to develop, test, and grow with clarity and confidence,
while safeguarding financial stability, market integrity, cybersecurity,
consumer protection, and public trust.

He explained that the Strategy seeks to consolidate the
Sultanate of Oman’s position as a trusted fintech destination with global
connectivity, one that attracts investments and expertise, develops national
capabilities, empowers Omani entrepreneurs, and delivers accessible,
needs-driven financial solutions that compete internationally.

The Strategy will enhance interoperability, consolidate
public-private sector cooperation, and develop the digital infrastructure,
competencies, and institutional capacities required for a modern financial
economy. These ambitions will be pursued in adherence to the highest standards
of financial stability, market integrity, cybersecurity, and consumer
protection, and in preservation of public trust.

On his turn, Abdullah Salim Al-Salmi, Chief Executive Officer of
the Financial Services Authority, affirmed that the National Fintech Strategy
provides a clear roadmap for keeping pace with the rapid developments reshaping
the fintech sector. He noted that its launch represents an important step
towards unifying existing efforts and initiatives across various financial
services sectors, and supporting the development of innovative business models
and financial solutions that respond to evolving customer needs and enhance the
efficiency and quality of financial services.

He added that the Strategy will enhance the Sultanate of Oman’s
attractiveness for local and international investments in the fintech sector,
through a regulatory and legislative environment supportive of innovation and
business growth, creating new opportunities for companies and investors,
attracting quality investments, and facilitating the transfer of knowledge,
expertise, and advanced technologies to the Omani market.

He affirmed that the Financial Services Authority will continue,
in cooperation with relevant entities, to develop a regulatory environment that
enables innovation in non-banking financial services sectors, including capital
markets, insurance, accounting, and auditing. These efforts will keep pace with
global fintech developments, accelerate the adoption of advanced technological
solutions, and support the continued development of these sectors and the
enhancement of their contribution to the national economy.

In support of the Strategy’s implementation and the translation
of its objectives into practical market opportunities, the Central Bank of Oman
also launched Oman Fintech Portal, a dedicated platform that provides fintech
companies and entrepreneurs with a clearer, more efficient, and better
coordinated pathway to enter the Omani market.

Oman Fintech Portal will serve as a central gateway for
innovators seeking to understand the market, assess their readiness, and
connect with relevant entities. The platform will provide guidance on
applicable requirements, streamline initial application procedures, connect
applicants with ecosystem partners, and help promising solutions advance
towards engagement with regulatory authorities and exploration of market entry
possibilities.

Strengthening coordination and reducing the fragmentation of
efforts through Oman Fintech Portal will enhance transparency, procedural
clarity, predictability, and efficiency for local and international fintech
companies. The platform will also strengthen the Sultanate of Oman’s ability to
identify innovations with promising potential and support their responsible
development within an ecosystem that balances opportunity with appropriate
safeguards.

Mahmoud Abdullah Al Awaini, Secretary-General of the Ministry of
Finance and Supervisor-General of the National Programme for Fiscal Sustainability
and Financial Sector Development “Estidamah” affirmed that the
National Fintech Strategy constitutes an integral part of broader national
efforts to develop the financial sector in the Sultanate of Oman and enhance
its contribution to growth and economic diversification.

He noted that the Strategy represents one of the key enablers
for accelerating the financial sector’s transformation and enhancing its
efficiency, competitiveness, and capacity for innovation, in alignment with the
objectives of the “Estidamah” programme and Oman Vision 2040.

For her part, Ibtisam Ahmed Al Farouji, Undersecretary of the
Ministry of Commerce, Industry and Investment Promotion for Investment
Promotion, affirmed that the integration of Oman Fintech Portal with Invest Oman
platform reflects the Sultanate of Oman’s orientation towards developing a more
integrated investment experience, one that is not limited to making information
and opportunities available, but extends to facilitating access to the business
ecosystem and relevant entities and enhancing clarity of the pathway for
investors, thereby raising the market’s readiness to receive investments and
companies specialized in fintech.

She affirmed that this step comes within the context of national
efforts to enhance the Sultanate of Oman’s attractiveness for quality
investments in future sectors, and to attract technologies, expertise, and
innovative business models, thereby contributing to the development of the
fintech sector, supporting the transition towards a more diversified and
competitive digital economy, and reinforcing the Sultanate of Oman’s position
as a trusted destination for investment and innovation.

— Ends/AH