National Bank of Oman and Ooredoo Fintech have signed an MoU to develop digital financial services and payment solutions in Oman.
The agreement establishes a framework for cooperation across several areas, including digital wallet ecosystem development, payment services and settlement arrangements, banking and financial infrastructure support, and joint fintech initiatives. Specific commercial terms and project details are to be defined through separate agreements.
The partnership is framed within the context of Oman Vision 2040, the Sultanate's long-term national strategy for economic diversification and technological development. Digital financial services represent a key pillar of that agenda, and the MoU positions both parties as contributors to the broader effort of building a technology-driven financial sector in Oman.
Ooredoo Fintech operates the walletii platform in Oman, a mobile wallet service that sits within the Ooredoo Group's wider financial technology offering across the Middle East and North Africa region. NBO, one of Oman's established commercial banks, brings banking infrastructure and transaction banking capabilities to the collaboration. The MoU is structured to allow both organisations to combine those complementary strengths, with the aim of delivering digital payment solutions for corporate clients and fintech operators.
A company official at NBO noted that the partnership reflects a focus on advancing digital payments and strengthening the financial services infrastructure in the country. An Ooredoo Fintech representative described the collaboration as an effort to combine the bank's institutional capabilities with the wallet platform's operational flexibility.
Scope and next steps
As an MoU, the agreement does not yet commit either party to specific deliverables or timelines. It defines a mutual intent to cooperate and sets out the broad areas for exploration, with binding terms to follow in subsequent agreements. Moreover, this structure is common in early-stage institutional partnerships, particularly where regulatory approvals or technical integration work may be required before commercial arrangements can be finalised.
The partnership adds to a pattern of bank-fintech collaborations across the Gulf Cooperation Council region, where incumbents and newer digital platforms are increasingly working together to extend financial service coverage and meet growing demand for mobile-first payment solutions.
