The Central Bank of Oman (CBO) said that the figures circulated in some circles on cash transactions in the Sultanate of Oman are not accurate.
Official data with the Central Bank for the end of 2024 indicate that transactions conducted through digital channels in the Sultanate accounted for 87% of all executed transactions, while cash transactions represented no more than 13%.
The CBO said it is working closely with the relevant government entities to ensure the availability of electronic payment options across all commercial activities, in addition to several directives aimed at limiting cash usage in certain sectors such as money exchange and remittance companies.
The CBO emphasizes the importance of relying on official sources when sharing or analyzing any information related to the banking and financial sector.
In its recently published annual report, the CBO said it has implemented regulatory and technological initiatives to promote financial innovation, enhance payment systems, and facilitate a transition towards a more digital society. These efforts are supported by initiatives to modernize infrastructure and processes across the sector.
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