Central Bank of Oman Regulation

OMPAY operates as a licensed payment service provider in the Sultanate of Oman. The Central Bank of Oman supervises our activities.

Regulatory Status

OMPAY is licensed and regulated by the Central Bank of Oman. Our operations comply with the Banking Law of Oman, the Royal Decrees relating to payment services, and circulars or guidelines issued by the Central Bank of Oman.

Applicable Laws and Regulations

OMPAY follows the laws and regulations that apply to its business, including:

  • The Banking Law of Oman, Royal Decree 114/2000 and subsequent amendments.
  • Central Bank of Oman regulations and circulars on electronic payment services.
  • The Anti-Money Laundering and Combating the Financing of Terrorism Law, Royal Decree 30/2016.
  • Personal Data Protection Law, Royal Decree 6/2022.
  • Consumer protection rules issued by the Central Bank of Oman.
  • Sanctions and financial crime obligations under Omani and international law.

Customer Due Diligence

We apply Know Your Customer and Customer Due Diligence procedures aligned with Central Bank of Oman requirements. You will be asked to provide identity documents and supporting information during onboarding and at periodic intervals.
Enhanced Due Diligence applies to higher-risk customers, products, or transactions. We may decline to open an account or to process a transaction where due diligence cannot be completed.

Anti-Money Laundering and Counter-Terrorism Financing

We monitor transactions and report suspicious activity to the Financial Intelligence Unit (NCFI) of Oman. We may freeze accounts, block transactions, or request additional information to meet our obligations under Omani law.

We do not service customers or transactions linked to sanctioned parties, jurisdictions under sanction, or prohibited activities.

Consumer Protection

Your rights under Central Bank of Oman consumer protection rules include:

  • Transparent disclosure of fees and charges before you transact.
  • Clear terms of service in English and Arabic.
  • Fair, timely handling of complaints.
  • Protection against unauthorized transactions where you report them within stated timeframes.
  • Recourse to the Central Bank of Oman if your complaint with OMPAY is not resolved.

Complaints Handling

Raise complaints through:

We will acknowledge your complaint within one business day and respond with a substantive outcome within one week. Complex cases may take longer; we will keep you informed.

Escalation to the Central Bank of Oman

If your complaint with OMPAY is not resolved to your satisfaction, you can escalate it to the Central Bank of Oman through its consumer protection channel. Contact details are available at cbo.gov.om.

Supervision and Reporting

OMPAY is subject to ongoing supervision by the Central Bank of Oman. We submit periodic regulatory returns, undergo audits, and report material incidents in line with regulatory requirements.