The Central Bank of Oman (CBO) has officially launched Maal, the country’s first national payment card, marking a major step toward modernising and localising Oman’s financial infrastructure. Introduced during National Day celebrations, Maal provides a domestic alternative to international card schemes and is designed to lower transaction costs, promote digital payments, and enhance financial sovereignty.
Under the CBO-approved framework, Maal debit and prepaid cards will be issued to consumers free of charge, with zero issuance, reissuance, or annual fees. Banks and payment service providers (PSPs) are also exempt from these fees during the initial phase, including charges on the OmanNet infrastructure for issuing and processing Maal transactions. ATM withdrawal fees, however, will remain as per existing regulations.
Ali Al Jabri, Vice President of Payment Systems Technology at the CBO, emphasized that Maal will offer “competitive, reduced fees for merchants and government entities,” making digital payments more cost-efficient nationwide.
Banks including Bank Muscat, Sohar International, Oman Arab Bank and Bank Dhofar will be the first to roll out Maal-branded cards. Currently, most cards in Oman rely on global network technologies that come with higher processing costs. A domestic scheme such as Maal is expected to improve operational control and support new card products such as debit, prepaid, and—later—credit cards.
Oman joins a growing regional movement toward national payment schemes, following Qatar’s Himyan, the UAE’s Jaywan, and Saudi Arabia’s Mada. Through Maal, Oman aims to build a resilient, sovereign, and cost-effective payments ecosystem that aligns with its long-term digital economy strategy.
