Muscat – Oman National Engineering & Investment Company (ONEIC) has announced the receipt of the final approval from the Central Bank of Oman (CBO) to operate as a payment service provider (PSP) in the sultanate.

In a disclosure submitted to the Muscat Stock Exchange, the company stated, ‘ONEIC has the pleasure to announce to shareholders and investors that CBO has issued the final approval for the PSP license.’

ONEIC confirmed that obtaining this license aligns with its strategic goal of diversifying its business, particularly in the realms of e-commerce and electronic payments.

‘In the upcoming stage, the company will aim to consolidate all its payment services through its electronic wallet. The license will be instrumental in this endeavor, and the company plans to expand into other related services,’ ONIEC added in its disclosure.

On Thursday, the CBO also granted its approval and license for Oman Investment & Finance Company (OIFC) to operate as a payment service provider in Oman.