Muscat – The National Fintech Strategy and Oman FinTech Portal were launched on Tuesday, laying out a unified roadmap to develop the sultanate’s financial technology ecosystem and attract companies, investment and specialised talent.

The strategy aims to simplify market entry and company registration, support entrepreneurs and foster innovative financial services as Oman seeks to build a competitive digital economy under Vision 2040.

Developed by the Central Bank of Oman (CBO) in partnership with the Ministry of Finance’s Estidama programme, the strategy brings together the Ministry of Commerce, Industry and Investment Promotion; Ministry of Transport, Communications and Information Technology; Telecommunications Regulatory Authority; Authority for Small and Medium Enterprises Development; and Invest Oman.

It establishes a common national direction for fintech, aligns the work of participating institutions and sets out a framework for coordinated implementation. The CBO will oversee implementation and national coordination, while each participating authority will retain its statutory regulatory and compliance responsibilities.

H E Ahmed Jaafar Salim Al Musalmi, Governor of CBO, described the strategy as a major step in developing Oman’s financial sector. “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.

According to H E Al Musalmi, Oman aims not merely to respond to changes in fintech but to help shape these by bringing regulation, technology and entrepreneurship together within a national framework.

The strategy is intended to give innovators clearer routes into the market and help transform ideas into scalable businesses capable of generating economic value.

Abdullah bin Salem Al Salmi, CEO of the Financial Services Authority, said the strategy would provide a coordinated roadmap for a rapidly changing financial services industry.

He said it would support new business models and digital solutions while improving the efficiency and quality of financial services.

The framework would also help attract investment by creating conditions conducive to innovation and business expansion. “Such efforts would create new opportunities for companies and investors, open additional investment avenues and facilitate the transfer of knowledge, expertise and advanced technologies to the Omani market,” Al Salmi said.

Digital gateway

The Oman FinTech Portal provides a single digital entry point for fintech companies and innovators seeking to operate in Oman.

Applicants can use the platform to assess their readiness, find information on requirements and initial procedures, and connect with regulators and other ecosystem partners.

The portal is designed to simplify early-stage applications and help promising ventures navigate market-entry processes and identify potential collaboration opportunities.