Oman announces fee waiver on digital transfer
Key takeaways
- CBO said the initiative is aimed at making digital payments more affordable, accessible, and widely used across Oman, while supporting the national transition towards a less-cash and less-cheque economy.
- The CBO has also introduced significant reductions in fees and customer charges related to digital payments and fund transfers offered by licensed banks and Payment Service Providers (PSPs).
- The Central Bank has directed licensed banks and PSPs to apply zero charges on local digital transfers for retail customers and SMEs.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize Oman will remove fees on local digital money transfers through National Payment Systems for retail customers and small and medium-sized enterprises (SMEs), effective from 1 July 2026, as part of a wider effort to boost digital payments and reduce reliance on cash and cheques.
The Central Bank of Oman (CBO) has said that the implementation of reforms to National Payment Systems fees is in line with the Royal Directives of Sultan Haitham bin Tarik to improve the efficiency of government and financial services.
Under the revised procedure, transfers made through the Real-Time Gross Settlement System (RTGS), Automated Clearing House (ACH), and the Instant Payment System (MPCSS), will be free when carried out through digital banking platforms, payment applications, and e-wallets.