Oman finalises plan to modernise payments
Central bank hopes to bolster fintech within the country
The Central Bank of Oman has finalised plans for the national payment system, in an attempt to encourage the growth of fintech within the country.
In a statement on July 29, the CBO said it has been working to develop a national strategy for payment systems since 2013, and had finally created a comprehensive set of regulations for the country’s financial system. The statement describes the framework as “the first of its kind across the region”.
The new regulation covers 11 areas of the
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