Oman Fintech Digital Investment Market Size and Forecast by Type, End Users, Industry, and Transaction Types: 2019-2033

Oman Fintech Digital Investment Market Growth and Performance  

• The Oman fintech digital investment market size is estimated to reach US$ XX.86 Billion by 2033, with an anticipated Compound Annual Growth Rate (CAGR) of 32.3%.
• Among end users, the IT and Telecom sector in Oman amounted to US$ XX.2 Million in 2023.

Oman Fintech Digital Investment Market Outlook

Oman fintech digital investment market is undergoing a rapid transformation, positioning the Sultanate as a key player in the Middle East’s financial technology ecosystem. Driven by the strategic objectives of Oman Vision 2040, the country is fostering an innovation-first economy that welcomes digital disruption, fintech startups, and foreign investments. This fintech evolution is rooted in regulatory reform, technology integration, and a vibrant youth demographic that is fueling innovation and digital adoption.

The country’s fintech landscape is witnessing a notable surge in mobile payments, thanks to efforts from the Central Bank of Oman (CBO) to modernize financial systems. In 2023, mobile payment transactions surged from 4.9 million in 2022 to 40 million—a staggering 700% increase. This growth reflects increasing consumer trust in secure, real-time payment systems. CBO’s implementation of the Mobile Payments Clearing and Settlement System (MPCSS) and Real-Time Gross Settlement (RTGS) under the National Payment System is reinforcing the digital infrastructure needed for such rapid fintech adoption.

At the center of Oman's fintech progress are pioneering startups. Split X, offering BNPL (Buy Now, Pay Later) solutions, and TelyPay, a digital financial platform, are local innovators that mirror global trends in embedded finance. Wadiaa, a crowdfunding platform, enables alternative financing, supporting SMEs and early-stage ventures. These emerging fintech firms not only address evolving consumer needs but also contribute to the country’s goal of fostering financial inclusion.

Regulatory agility plays a critical role in shaping Oman’s fintech-friendly environment. In a landmark move in 2020, Thawani became the first non-banking financial company to receive a fintech license from the CBO. This opened doors for broader participation in the financial services sector. The Fintech Regulatory Sandbox Framework, launched the same year, provides a controlled environment for fintech innovation, encouraging startups to test digital solutions with temporary regulatory flexibility.

Oman’s youthful population—over 60% under the age of 29—is a vital enabler of this digital transformation. Educational institutions like Sultan Qaboos University and the College of Banking and Financial Studies are now offering fintech-focused curricula and diplomas, aligning academic output with industry demand. These efforts are supported by strategic public initiatives from the Oman Investment Authority and the Oman Technology Fund, both working to catalyze local innovation and attract global talent.

The recently enacted Banking Law (Royal Decree No. 2/2025) marks a turning point for digital banking in Oman. It not only enables the establishment of digital banks but also strengthens customer protection and invites foreign investment by introducing transparent compliance frameworks. This law is instrumental in bridging the gap between traditional finance and emerging technologies like blockchain and decentralized finance (DeFi).

Oman's fintech aspirations are further reinforced through blockchain adoption. With the support of the National Programme for Digital Economy, blockchain applications are being piloted in logistics to enhance transparency and efficiency, and in the energy sector for green hydrogen and carbon credit tokenization. These developments are positioning Oman as a crypto and blockchain-ready economy, opening doors for tokenized assets and digital currencies.

Bank Muscat exemplifies the digital transition within established institutions. With enhanced mobile and online banking services, investments in IT and cybersecurity, and community-focused awareness programs, the bank is spearheading consumer-centric digital finance. Collaborations with telecom giants like Omantel and Ooredoo are improving the reach of contactless and mobile payment solutions, particularly in underserved segments.

The CBO’s fintech roadmap highlights its commitment to building a robust digital finance ecosystem through open banking APIs, fintech competitions, and data-driven decision-making. This initiative is designed not just to enable innovation, but to make Oman a magnet for venture capital, thereby contributing to employment and sustainable economic growth.

Oman's strategic mix of regulation, innovation, and talent cultivation is turning it into a regional hub for fintech and digital investment. As mobile payments soar, regulatory sandboxes thrive, and new technologies take root, Oman’s fintech ecosystem exemplifies how emerging markets can leapfrog traditional models to embrace a digitized, inclusive, and diversified financial future.

Oman Fintech Digital Investment Market Scope