MUSCAT: The Financial Services Authority (FSA), in collaboration with the Central Bank of Oman (CBO), has launched an awareness programme for fintech companies as part of their joint efforts to enhance financial literacy, foster innovation and promote knowledge-sharing to stimulate the financial services sector.
The programme features a series of training workshops designed to address key areas of interest for emerging fintech companies.
These sessions aim to equip participants with essential knowledge about Oman's business environment, the role of the FSA in supporting fintech companies operating within regulated sectors, and critical aspects such as licencing requirements, anti-money laundering (AML) and counter-terrorism financing (CTF) frameworks, and best practices in securing funding for emerging projects. Additionally, the workshops will explore opportunities and challenges within the financial sector.
Industry experts from the FSA and CBO will lead the sessions, offering in-depth insights into the Fintech Co-Regulatory Sandbox, legislative frameworks for fintech firms, and the importance of compliance with regulatory requirements to ensure long-term success and sustainability in the financial market.
Notably, fintech companies are at the forefront of digital transformation in the financial sector, leveraging technological innovations to provide advanced services such as e-payment solutions, digital lending and smart investment platforms.
These innovations enhance customer experience and improve the operational efficiency of financial institutions. Given the global rise in fintech adoption, fostering competitiveness and entrepreneurship in the financial sector remains a key priority.
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