The infusion of technology into Islamic banking in Oman is reshaping the sector, enhancing accessibility and adhering to Sharia-compliant finance principles. Key developments include mobile banking, digital customization, fintech collaborations, contactless payments, and the adoption of blockchain and cryptocurrency. This digital evolution caters to tech-savvy customers and promises a future where Islamic banking is both innovative and in alignment with Islamic finance principles.
Traditional banks in Oman are embracing FinTech to boost inclusivity and innovation in the financial industry. This integration has led to the rise of mobile banking apps, digital payments, open banking with API integration, neobanks, and embedded finance. The synergy between traditional banks and FinTech is revolutionizing Oman's financial landscape, offering a more accessible, efficient, and customer-centric digital ecosystem.