NBO and Paymob forge strategic alliance to transform Oman’s digital landscape

NBO and Paymob forge strategic alliance to transform Oman’s digital landscape

Muscat: In a significant move towards advancing the digital landscape of Oman, National Bank of Oman (NBO) announced a ground-breaking partnership with Paymob, a leading Payment Services Provider (PSP) recently licensed by the Central Bank of Oman (CBO).

This collaboration aims to reshape Oman's payment ecosystem, specifically empowering SMEs and contributing to the nation's vision for a robust digital economy. The signing ceremony took place at NBO’s head office in Al Athaiba and was signed by Abdullah Zahran Al Hinai, Chief Executive Officer of NBO and Islam Shawky, Co-founder and CEO of Paymob.

NBO's commitment to innovation is demonstrated by adopting the first custody account for PSPs in accordance with the CBO guidelines on the dedicated custody account for PSPs, formalising a comprehensive agreement with Paymob. This partnership extends beyond transactions, promoting financial inclusion through a diverse range of fintech solutions. It strategically positions Paymob in Oman, emphasising the strength of the alliance.

Mohammed Yahya Al Jabri, Assistant General Manager - Head of Global Transaction Banking at NBO, states, "Our collaboration with Paymob accelerates the digitalisation of payments in Oman, showcasing our commitment to financial innovation. This partnership is more than a transaction; it's a commitment to addressing customer challenges and streamlining financial