Digital Payments & Fintech · Oman
Fintech & digital payments rules in Oman (2026)
Oman shaded by its digital payments & fintech status
Oman operates a mature, multi-layered licensing regime for digital payments and fintech governed primarily by the National Payment Systems Law 2018 and its 2019 Executive Regulation, with the CBO as sole regulator. The 2025 Banking Law overhaul added formal digital-bank licensing, while a December 2024 Open Banking Regulatory Framework and an active Fintech Regulatory Sandbox extend coverage to third-party providers and innovators. Instant payment volumes grew 78% year-on-year in 2025, underpinned by the CBO-operated Instant Payment System (IPS) and Mobile Payment Clearing and Switching System (MPCSS).
Key points
Royal Decree 8/2018 (National Payment Systems Law) and its 89-article Executive Regulation (CBO Ministerial Decision 1/2019, in force 28 July 2019) form the core licensing framework for all payment service providers — banks and non-banks — setting out authorisation conditions and CBO supervisory powers.
Royal Decree 2/2025 (new Banking Law, January 2025) introduced the category of 'digital banks' — institutions conducting banking exclusively via digital platforms. CBO Decision 25/2025 issued the detailed Regulatory Framework for Digital Banks, effective 1 June 2025, including capital, governance and business-restriction requirements.
On 29 December 2024, the CBO Board of Governors approved the Regulatory Framework for Open Banking. The CBO had published API specifications (April 2023), security specifications (December 2023), and a Technology Framework (2024) ahead of the final approval, creating a phased, standards-based open-banking regime.
The CBO operates multiple clearing systems settling via RTGS: the Instant Payment System (IPS), the Mobile Payment Clearing and Switching System (MPCSS), the ACH, Electronic Cheque Clearing, and OmanNet switch for cards. IPS volumes reached 188.5 million transactions (OMR 5.69 bn) in 2025 — a 78% volume increase year-on-year; MPCSS volume surged 318.6% in the same period.
The CBO operates a formal Fintech Regulatory Sandbox open to licensed incumbents, local start-ups, and foreign innovators. Successful sandbox graduates have received full CBO licences — OM Pay received its electronic-payment service licence following sandbox completion. The sandbox is also the pipeline for upcoming frameworks including 'Alternate Modes of Finance' (which covers BNPL-type products).
As of early 2026, Oman has not yet finalised a dedicated Buy Now Pay Later (BNPL) regulatory framework. The CBO is developing an 'Alternate Modes of Finance' framework informed by its current sandbox cohort; until that framework is issued, BNPL products sit in a regulatory gap.
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Last verified 5/24/2026 · Orientation, not legal advice - verify against the primary sources linked above. Explore the full world map →