finpeel Answers · Oman · updated 2026-08-31
Generally, yes. The Central Bank of Oman treats e-wallets as part of payment-account issuance under its Payment Service Provider framework, so a business that issues or operates the regulated wallet service needs the appropriate CBO authorisation.
The CBO's PSP licensing policy expressly includes e-wallets within account-issuance services. That makes the key question whether your product is actually issuing or operating a payment account or stored payment functionality for the customer, rather than merely displaying balances or providing software to another licensed provider.
Wallet products can combine several regulated functions at once — account issuance, transfers, merchant payments and potentially card issuance. The correct authorisation therefore depends on the full product flow rather than the word 'wallet' alone.
A common alternative is to build the customer experience on top of a CBO-licensed PSP or bank. That can change which entity holds the regulatory permission, but the partnership structure must match the actual responsibilities and customer relationship.
Regulator: Central Bank of Oman (CBO)
Primary sources: CBO — Licensing Policy for Payment Service Providers (PSP) & Ancillary Payment Service Activities · CBO — Fintech / licensed entities under the National Payment Systems Law
Directional — not legal advice. Verify with the regulator before committing.
Read on finpeel.com · All answers · Check your wallet structure