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CBO, Omantel ink MoU to launch fintech accelerator programme

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The Central Bank of Oman (CBO) and Omantel signed a Memorandum of Understanding (MoU) on September 13 to introduce an accelerator programme to nurture and empower fintech startups.

The MoU was signed by the CBO Executive Director Tahir bin Salim al Amri and Omantel CEO Talal bin Said al Maamari.

The signing of the MoU comes within the framework of the Omani FinTech Roadmap launched by the Central Bank to promote fintech in the Sultanate of Oman and support fintech startups, SMEs, banks and technology companies. The partnership combines the expertise and shared vision of the Central Bank of Oman and Omantel to support local fintech startups.

Starting November 14 for a period of six months, the Accelerator Programme will help innovative fintech startups by providing the required support for their growth through mentorship, training and networking services, and contributing to the provision of funding to address the challenges in the highly competitive FinTech space.

"Fintech is important for the future of the financial sector in the Sultanate of Oman,” said Al Amri, stressing the CBO’s commitment to support startups in this field.

Omantel CEO’s added: "Our partnership with the Central Bank of Oman comes within the framework of the joint national vision and strengthens our efforts in supporting the digital transformation of the Sultanate, empowering startups, and seeking to harness all the potential to make the accelerator a success and maximize its benefit."


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