Muscat – Central Bank of Oman (CBO) has officially introduced significant reforms to the national payment systems, aimed at enhancing efficiency and stimulating economic growth. In alignment with Royal Directives to improve financial services, a full waiver of fees on local digital fund transfers will be implemented for all retail customers and small and medium-sized enterprises (SMEs). This policy, which becomes effective from July 1, 2026, applies to various payment methods, including the Real-Time Gross Settlement System (RTGS), the Automated Clearing House (ACH), and the Instant Payment System (IPS) for peer-to-peer transfers.

These measures are designed to reduce operational costs for businesses and encourage the wider adoption of digital banking channels across the Sultanate. By eliminating transaction fees, the CBO seeks to provide more efficient, low-cost services that contribute to a modern and inclusive financial ecosystem. This initiative represents a strategic shift towards strengthening the national digital infrastructure and promoting a more agile business environment. This move is expected to have a positive impact on both personal finance management and the overall commercial sector in Oman.