finpeel Answers · Oman · updated 2026-08-31
Yes, but a digital bank must be licensed by the Central Bank of Oman. The CBO has a dedicated Regulatory Framework for Digital Banks, read together with the Banking Law and other applicable CBO rules.
Calling a product a 'digital bank' does not create a lighter substitute for banking authorisation. If the business performs banking activities such as taking deposits or otherwise carrying on regulated banking business, it falls within the CBO banking perimeter.
The digital-bank framework provides the licensing structure for banks whose services are delivered primarily through digital or modern electronic means. Applicants are assessed as regulated financial institutions, not merely as technology companies.
A fintech that wants a bank-like interface without becoming a bank can instead explore structures built on licensed banks or PSPs, but the branding, contractual model and actual financial activities must not imply that the fintech itself is carrying on banking business without authorisation.
Regulator: Central Bank of Oman (CBO)
Primary sources: CBO — Regulatory Framework for Digital Banks in Oman · CBO — Banking Law · CBO — Licensing of Financial Institutions
Directional — not legal advice. Verify with the regulator before committing.
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