The Central Bank of Oman (CBO) issued last week the Regulatory Framework for Digital Banks. This regulatory framework sets the requirement for establishing a digital bank, creates two categories for digital banks, sets minimum capital requirements, restrictions on the activities for different digital bank categories, and progressive Omanisation percentages that increase over a period of five years, licensing conditions, and the requirements to present a business plan to obtain the license, among other things.
This regulatory framework is issued pursuant to article 9 of the Banking Law, was issued by a circular, and not a decision that was published in the Official Gazette. This regulatory framework entered into force at the beginning of this week.
You can read the Regulatory Framework for Digital Banks in English in full on the link below: