Oman’s FinTech Market Set to Reach RO 1.1 Billion by 2025: What This Growth Means for Investors and Entrepreneurs
MUSCAT: The Sultanate of Oman is on the verge of a transformative shift in its financial sector, with the FinTech market expected to reach RO 1.1 billion by 2025. This impressive growth corresponds to a 16% Compound Annual Growth Rate (CAGR), underscoring Oman’s commitment to becoming a leading regional hub for financial technology innovation. This outlook was shared during the "Building a Future-Ready Bank" summit held on Wednesday, organized by IBS Intelligence and Cedar.
This rapid development stems directly from a proactive regulatory framework led by the Central Bank of Oman (CBO). The CBO has been instrumental in driving the FinTech ecosystem forward through its Innovation Acceleration Programme, which supports pilot projects and oversees technology testing via a dedicated sandbox environment. Crucially, the authorities recently introduced a digital-bank licensing roadmap with progressive entry tiers tied to specific capital requirements and localisation commitments. This approach aims to foster a new generation of digital-first banks while ensuring consumer protection.
The regulatory clarity has already yielded significant results. The number of FinTech firms in Oman has increased from 26 to 42 within a year, reflecting strong entrepreneurial activity and rising investor confidence. In 2025 alone, 16 FinTech licences have been granted, with 52 additional applications currently under review by the CBO. To attract international investment and expertise, Oman actively promotes its Regulatory Sandbox as a secure platform for global FinTech companies to test innovations, targeting increased Foreign Direct Investment (FDI).
An analysis of the 42 licensed FinTech firms shows a focus on modernizing critical financial infrastructure and enhancing consumer access. Payments represent the largest segment, accounting for 22% of firms, highlighting the national effort to simplify transactions and increase the use of digital wallets. Following closely, Personal Finance, Digital Payments/PoS solutions, and Trading & Crowdfunding each make up 19% of the sector. This demonstrates a strategic drive to expand financial inclusion and democratize access to investment and wealth management services beyond traditional banking.
Oman’s digital ambitions are further supported by national policy frameworks. The rollout of a national AI policy in April 2025 positions the financial sector to harness artificial intelligence in alignment with GCC ethical standards and Oman Vision 2040. Oman’s technological prowess is evidenced by its ranking as the fourth-best developing economy globally for ICT-related FDI. This is complemented by financial backing such as RO 25 million allocated through the Inma fund for Small and Medium Enterprises (SMEs) in 2025, ensuring that FinTech innovation is embedded in the private sector’s core. Additionally, with OmanNet facilitating 14.5 million digital transactions in the first quarter of 2025 alone, it is clear that regulators and consumers alike are embracing the evolving digital landscape.
Oman is firmly advancing toward a future where digital financial services form the backbone of its economy, supported by visionary regulation, investment, and technology adoption.
Special Analysis by Omanet | Navigate Oman’s Market
Oman’s fintech sector is poised for transformative growth, driven by forward-thinking regulation and a clear digital banking roadmap that attracts both local and international investors. For businesses, this means accelerated opportunities in payments, personal finance, and digital wealth management, while smart investors should prioritize ventures aligned with AI integration and financial inclusion initiatives. Entrepreneurs must leverage the Innovation Acceleration Programme and the regulatory sandbox to navigate risks and capitalize on the rapidly expanding, innovation-friendly ecosystem.
