Saturday 10 / October / 2026
Muscat: In a new national achievement that strengthens the Sultanate of Oman’s position in the regional financial technology (fintech) sector, Thawani Technologies continues to consolidate its regional presence following its selection for Forbes Middle East’s 2026 list of the 50 most powerful fintech companies in the Middle East. As the only Omani company featured on the list for the third consecutive year, Thawani’s recognition reflects the advancement of the fintech sector in the Sultanate of Oman and the growing ability of national enterprises to compete and innovate in the development of digital financial solutions.
Thawani ranked 42nd on the regional list, which features some of the Middle East’s leading fintech companies. Its continued inclusion is supported by the expansion of its digital financial services ecosystem, growth in its user base and merchant network, and the development of innovative solutions serving individuals, businesses, and institutions. These achievements highlight the growing capabilities of Omani enterprises in a sector characterised by rapid technological advancement and intensifying regional competition.
This recognition comes amid the ongoing development of the Sultanate of Oman’s digital economy and national efforts to promote innovation, advance financial technologies, and foster a business environment conducive to investment and entrepreneurship. These developments align with the objectives of Oman Vision 2040 and the Eleventh Five-Year Development Plan (2026–2030), which identifies the digital economy as a key contributor to economic diversification, sustainable growth, and enhanced national competitiveness.
Commenting on the achievement, Eng. Majid bin Fayil Al Amri, Founder, General Manager and Board Member of Thawani Technologies, emphasised that the company’s continued presence on the Forbes Middle East list for the third consecutive year represents a significant milestone in its journey and reflects the competitive strengths and capabilities of Omani companies in the fintech sector.
Al Amri said: “We are proud that Thawani has maintained its presence on the Forbes Middle East list for the third consecutive year. We regard this achievement as a reflection of the ability of Omani companies to compete in regional markets and as evidence of the progress and maturity of the fintech ecosystem in the Sultanate of Oman. This recognition also reflects the value of investing in national talent and innovation, as well as the confidence our customers and partners place in the solutions and services we provide.”
He added: “Since Thawani’s establishment, our ambition has been to develop digital financial solutions that make everyday transactions easier, safer, and more efficient. Today, we continue to build on our achievements by expanding our services, developing innovative payment technologies, and strengthening strategic partnerships that empower individuals and institutions while supporting business growth. We look forward to continuing our contribution to the objectives of Oman Vision 2040 and strengthening the Sultanate of Oman’s presence in the future of the fintech industry.”
According to data published by Forbes Middle East, Thawani processed financial transactions exceeding US$428 million in 2025. By the end of December 2025, its application had recorded more than 383,000 downloads, while its user base exceeded 216,000. Its merchant network comprises more than 5,500 merchants, and the company has issued 22,000 Visa prepaid cards. These figures demonstrate the expanding reach of digital financial services and the growing adoption of modern payment solutions, contributing to greater financial inclusion and the transition towards digital transactions in the Sultanate of Oman.
Thawani has achieved several significant milestones in the fintech sector in recent years, including obtaining a licence from Visa International to issue credit cards and launching the Mojab Business Card, designed to manage corporate expenses. The company has also expanded its digital payment acceptance solutions, online payment gateways, payment links, and smart-device-based point-of-sale technologies. In addition, Thawani has developed an integrated digital financial services ecosystem through its application, offering bill payments, international money transfers, insurance services, and card-related services, alongside Thawani Store, which provides shopping and instalment payment options to meet the needs of individuals, merchants, and institutions.
As part of its commitment to innovation, the company is developing advanced payment technologies based on biometric technologies while strengthening partnerships with public- and private-sector institutions. These efforts aim to expand access to digital financial services, improve transaction efficiency, and support digital transformation across various economic sectors.
This national achievement underscores the Sultanate of Oman’s growing presence in the regional fintech landscape and reinforces its position as a promising destination for innovation and investment in advanced technologies. It also opens up wider opportunities to attract high-value investments and forge economic and technological partnerships at regional and international levels, while demonstrating the ability of Omani talent and enterprises to compete in emerging economic sectors, contribute to the objectives of Oman Vision 2040, and strengthen the competitiveness of the national economy.
