Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
The Central Bank of Oman has launched Maal, the Sultanate’s first national payment card, offering free debit and prepaid cards and lower processing fees for banks and merchants. The initiative aims to strengthen local payment sovereignty, reduce reliance on international schemes, cut transaction costs, and advance Oman’s broader digital economy goals.
Oman’s digital payments ecosystem experienced major growth in 2024, driven by mobile payments, card transactions, and improved financial infrastructure. Mobile payment volumes quadrupled, OmanNet saw large gains, and clearing systems expanded significantly. Supported by regulatory reforms and Vision 2040 goals, Oman is rapidly moving toward a secure, integrated, cashless financial environment.