Tagged: oman

Fintech: The Gulf Cooperation Council (GCC) Region May Experience Significant Increase in the Use of Financial Technology Platforms Due to COVID-19

The Gulf Cooperation Council (GCC), an intergovernmental political and economic union consisting of the Arab states of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, is expected to experience a significant increase in the use of Fintech platforms and services. The anticipated… Read More

National Bank of Oman Encourages Users to Perform Contactless Payments to Prevent Further Spread of Coronavirus

National Bank of Oman (NBO), one of the largest financial institutions in the country and its first local bank, aims to raise awareness regarding the importance of practicing safe banking during the coronavirus (COVID-19) outbreak. The NBO has taken several measures to ensure its clients… Read More

Oman Prepares for 4th Industrial Revolution, Launches Fintech Innovation Lab with Help of Ministry of Technology and Communications, BankDhofar

Oman’s Ministry of Technology and Communications (MTC) has committed to a memorandum of cooperation (MoC) with BankDhofar at the Sas Center for the 4th Industrial Revolution (4IR), in order to manage a technology innovation lab at the center. The MoC was reportedly signed by Dr…. Read More

Shariah-Compliant Fintech: Malaysia, Singapore, Indonesia Corridor has Made Substantial Progress in Establishing Islamic Finance Services

Vinnie Lauria, an entrepreneur and venture capitalist who established Golden Gate Ventures, an early-stage VC company managing more than $250 million in assets, notes that his Singapore-based company has been watching emerging tech sectors across the Southeast Asia region. Lauria reveals that he’s seeing significant… Read More

National Bank of Oman Receives Award for Best Mobile Banking Application by International Finance Magazine

The National Bank of Oman (NBO), the first local bank and one of the largest financial institutions in the Middle Eastern country of Oman, has been awarded Best Mobile Banking Application – Oman 2019 by the International Finance Magazine. The bank has also received various… Read More

Bank Muscat Receives Approval to Launch $100 Million Fintech Investment Program from Central Bank of Oman

Bank Muscat, the leading financial services provider in the Sultanate, recently revealed that the Central Bank of Oman has approved the institution’s request to establish a $100 million (appr. OMR38.5 million) nationwide, strategic Fintech investment program. The investment program is reportedly part of Bank Muscat’s… Read More

Oman Oil and Orpic Group and HSBC Bank Oman SAOG Perform First Blockchain-based Trade Finance Transaction in the Country

Oman Oil and Orpic Group and HSBC Bank Oman SAOG have reportedly performed the first blockchain-based trade finance transaction in the Middle Eastern nation using R3’s Corda technology. According to a November 23 report from Oman Observer, Oman Oil and Orpic Group, the country’s largest… Read More

Oman Bank BankDhofar Joins RippleNet For Instant Blockchain Payments

On Tuesday, Oman bank BankDhofar announced it is the first bank in Oman to join Ripple’s global enterprise blockchain network, RippleNet. According to BankDhofar, the blockchain network will help its customers save both time and money when sending payments overseas. The bank joins more than 100… Read More

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