The Sultanate of Oman is rapidly emerging as a FinTech force within the MENA region, with its financial technology market projected to reach a valuation of RO 1.1 billion ($2.8 billion) by 2025. This ambitious forecast, representing a 16% Compound Annual Growth Rate (CAGR), is a direct result of strategic regulatory reforms and robust government support spearheaded by the Central Bank of Oman (CBO). The insights were shared during the “Building a Future-Ready Bank” summit hosted by IBS Intelligence and Cedar.
CBO Spearheads Innovation with New Licensing
At the heart of Oman’s FinTech expansion is the CBO’s proactive and strategic leadership. The central bank has been instrumental in cultivating a fertile ground for innovation through its Innovation Acceleration Programme, which is designed to advance pilot projects. A key component of this strategy is a dedicated regulatory sandbox for technology testing, which provides a secure environment for new solutions to be trialed.
Most notably, the CBO has unveiled a new digital-bank licensing roadmap. This framework introduces progressive entry tiers tied to specific capital requirements and localisation commitments, a move designed to nurture a new generation of digitally-native banks while ensuring robust consumer protection.
Surge in FinTech Startups and Investor Confidence
The clarity and support provided by the new regulatory environment have had an immediate and significant impact on the ecosystem. In just one year, the number of FinTech firms operating in Oman has surged from 26 to 42, signaling a sharp rise in entrepreneurial activity and investor confidence. In 2025 alone, 16 new FinTech licences were approved, with an additional 52 applications currently under CBO review.
To attract global expertise and capital, the country has also actively promoted its Regulatory Sandbox as a low-risk testing ground specifically targeting Foreign Direct Investment (FDI) from international FinTech companies.
Key Growth Segments and National Policy Alignment
An analysis of Oman’s 42 active FinTechs reveals a strategic focus on modernising core financial infrastructure and enhancing consumer access. The largest segment is Payments, accounting for 22% of all firms, which aligns with the national priority of promoting digital wallets and seamless transactions. This is followed by three equally significant segments, each comprising 19% of the market: Personal Finance, Digital Payments/PoS solutions, and Trading & Crowdfunding. This distribution highlights a concerted effort to deepen financial inclusion and democratise investment opportunities for the wider population.
Oman’s digital ambitions are further supported by national policy frameworks, including a national AI policy rolled out in April 2025. This policy strategically positions the financial sector to leverage artificial intelligence in line with Oman Vision 2040. The nation’s commitment is underscored by its ranking as fourth globally among developing economies for ICT-related FDI and tangible financial support, such as the RO 25 million allocated through the Inma fund for SMEs in 2025. With digital transactions via OmanNet reaching 14.5 million in the first quarter of 2025, consumer adoption is clearly keeping pace with regulatory innovation.
About the Central Bank of Oman
The Central Bank of Oman was established in December 1974 and began its operations on the 1st of April, 1975. It is responsible for maintaining the stability of the national currency, the Omani Rial, and ensuring monetary and financial stability in a deregulated and open financial system.
Source: Zawya
