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The Central Bank of Oman developed the strategy in strategic partnership with the Financial Services Authority and the Estidamah programme at the Ministry of Finance, according to an official launch announcement. The framework brings together 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 stakeholders. It aims to create a future-ready financial system that uses technology to expand opportunities, improve financial services and support economic diversification in line with Oman Vision 2040, the bank stated.
The National Fintech Strategy sets a unified direction for the sector, aligns institutional priorities and outlines a methodical implementation roadmap, with the Central Bank of Oman taking the lead on national coordination. Each participating entity will continue to handle its own regulatory and compliance duties under the plan. This coordinated approach seeks to accelerate responsible innovation while maintaining robust oversight of financial infrastructure.
Complementing the strategy, the Oman Fintech Portal was launched as a single digital entry point for fintech firms and entrepreneurs, the Central Bank of Oman reported. Users can assess their preparedness for market entry, review regulatory requirements and initial procedures, and link with relevant authorities and partners through the platform. The portal is intended to streamline processes and turn the strategy’s goals into tangible business opportunities.
Central Bank of Oman Governor Ahmed Jaafar Salim Al Musalmi hailed the initiative as a milestone in the sultanate’s financial evolution. “Its impact extends beyond the adoption of new technologies, reflecting a national commitment to developing a financial system that is more innovative, inclusive and competitive, while ensuring effective oversight of essential infrastructure,” he said. Al Musalmi’s comments came during the launch event that highlighted alignment with broader national objectives.
The move builds upon a 2023 fintech framework issued by the Central Bank of Oman that outlined plans for a regulatory sandbox, innovation hub, open banking and other measures, a Zawya report from September 2023 showed. Oman’s digital economy activities reached RO3 billion, equivalent to about $7.7 billion, between 2021 and 2024, according to figures presented by the Ministry of Economy in March 2026. The 11th Five-Year Plan for 2026-2030 targets 4 percent average annual GDP growth with the private sector contributing 56 percent of GDP.
Fintech development forms part of Oman’s push to diversify its economy away from oil dependence under the Vision 2040 framework, which emphasises innovation and digital transformation. The strategy focuses on financial inclusion by promoting digital payments and literacy among underserved groups, the Central Bank of Oman indicated in related documentation. It also aims to create jobs, draw venture capital and position Oman as a connected fintech destination in the region.
Implementation will proceed in phases, starting with foundational regulatory and capacity-building steps in the first year, according to details in the national strategy document. Ongoing collaboration among public and private entities is expected to keep the ecosystem aligned with global fintech advancements. The Central Bank of Oman will monitor progress toward measurable outcomes in innovation, inclusion and economic contribution.
