Oman today_ The Central Bank of Oman (CBO) announced on Sunday the launch of the country’s new national payment card, named “Maal.” This initiative is a significant government effort to strengthen the national payment system, advance the digital economy, and ensure broader access to financial services across Oman, in line with the objectives of Oman Vision 2040 for digital transformation and an innovation-driven economy.
The CBO stated that the Maal card has been designed in accordance with regional and international standards for electronic payments and is considered part of the country’s major national projects. The card aims to enhance data security, localize payment services, promote innovation in new payment technologies, and support the transition toward a cashless society.
The implementation of this project is expected to reduce banking and payment processing costs for individuals, businesses, and government institutions, while expanding public access to financial services. Additionally, the Maal card will encourage greater use of digital payments, reducing reliance on cash.
The card offers a comprehensive range of services, including credit, debit, prepaid, corporate, and premium cards. It is valid for domestic use through the OmanNet network, enabling payments at point-of-sale terminals, ATM withdrawals, online shopping, and access to government services. The card also supports tokenization (replacing the actual card number with a secure code to enhance transaction security) for use across multiple payment applications.
Plans are underway to enable Maal card acceptance in Gulf Cooperation Council (GCC) countries, with potential international acceptance in the future through bilateral agreements. The issuance of the card and provision of related services will be carried out gradually in multiple phases, with licensed banks and payment service providers responsible for issuing and accepting the card.
H.E. Ahmed bin Jaafar al Musalmi, Governor of the Central Bank of Oman, stated that the Maal card represents a major strategic initiative that establishes a secure and efficient payment system, strengthens the country’s financial sector, and enhances Oman’s position in financial innovation in the region. He emphasized that the card plays a crucial role in shaping a safe, sustainable, and developed digital future for Oman.