National Bank of Oman, Ooredoo sign MoU to boost digital payments

By Vriti Gothi

National Bank of Oman and Ooredoo Fintech have signed a memorandum of understanding (MoU) to collaborate on digital financial services and payment solutions, signalling a broader push to accelerate FinTech innovation in the Sultanate.

The agreement was formalised at NBO’s headquarters in Muscat on 31 March 2026 and establishes a framework for joint initiatives spanning digital wallet development, payment services, settlement infrastructure, and wider financial technology use cases. The partnership aligns with Oman’s long-term economic strategy, Oman Vision 2040, which prioritises digital transformation and diversification of the financial sector.

Under the MoU, both parties will explore the creation of a digital wallet ecosystem alongside enhancements to banking and payments infrastructure. While the agreement outlines high-level areas of cooperation, specific products and commercial terms are expected to be defined through subsequent agreements.

Mohammed Yahya Al Jabri, Assistant General Manager and Head of Global Transaction Banking at National Bank of Oman, said, “This MoU reflects our continued focus on advancing innovation in Oman’s financial services sector. Through our collaboration with Ooredoo Fintech, we aim to explore solutions that support the growth of digital payments and strengthen the infrastructure needed to deliver efficient financial services.”

Noor Al Lawati, Country Head at Ooredoo Fintech Oman, added, “Collaborating with NBO reflects a shared ambition to push the boundaries of what digital financial services can offer in Oman. Together, we are combining NBO’s proven banking strength with walletii’s agile platform to deliver an experience that is greater than the sum of its parts.”

The collaboration comes amid increasing activity in the Gulf’s FinTech sector, where banks and telecom-backed FinTechs are forming alliances to capture growing demand for digital payments and embedded financial services. For Oman, such partnerships are critical to building scalable infrastructure, improving financial inclusion, and enabling corporates and FinTechs to operate within a more integrated digital ecosystem.