Muscat: The Sultanate of Oman on Thursday pilot-launched the national payment card, Maal, coinciding with the celebration of Oman's National Day.

The initiative aims to strengthen the national payments framework by reducing costs for banks, merchants, and payment service providers (PSPs), while expanding the use of digital payment methods across various economic sectors.

The approved framework includes a full exemption from card issuance and reissuance fees by banks and PSPs, in addition to waiving annual fees for cardholders.

Hence, “Maal" consumer debit and prepaid cards will be offered to customers at zero fees. In contrast, ATM cash withdrawal and related service fees will remain subject to the existing regulations and directives issued by CBO.

No fees will be imposed during the initial phase on banks and PSPs for using the OmanNet infrastructure to issue and process “Maal" card transactions, aligning with the broader objective of reducing card payment costs across the ecosystem.

Bank Muscat, Sohar International, Oman Arab Bank (OAB), and Bank Dhofar will have their Maal-branded cards.

According to Ali Al Jabri, Vice President of Payment Systems Technology at the Central Bank of Oman," The 'Maal card will be free for customers with no issuance or renewal fees, and competitive, reduced fees for merchants and government entities."

According to experts, currently, cards issued by local banks use global network technologies, which will contribute to reducing costs for customers, and products will include debit cards, payment cards, prepaid cards, and credit cards.

, Qatar, UAE Saudi Arabia have their own national payment cards, and here are some of their details.

Qatar's Himyan is the first national payment card with a Qatari brand, owned by the Qatar Central Bank. Its issuance comes as a continuation of the national initiatives and projects launched by the Qatar Central Bank towards improving and developing digital payment systems.

The card will provide options for customers of banks and financial institutions in the country and meet their growing needs in line with the growing demand for financial technology services, besides contributing to enhancing the national brand.

All payment transactions via debit cards are conducted through point of sale devices, purchases are made from local e-commerce websites via the internet, and withdrawals and deposits are handled through ATMs, while prepaid cards do not require a minimum balance. Issuing the card does not require having a bank account

The Jaywan national card of the UAE provides a homegrown option to internationally issued debit and prepaid cards.

Debit cards are issued by participating banks, as they allow consumers to make purchases and withdraw cash directly from their bank accounts. They provide an easy and secure way to manage daily expenses. Prepaid cards are ideal for budgeting and controlled spending. They can be loaded with a set amount of funds, making them useful for travel, gifting, and specific spending purposes.

The Saudi Payments card, the Mada card, is the national debit card launched by the banks of Saudi Arabia. Mada cards are a dominant payment method in Saudi Arabia, particularly for online transactions.


2025 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (Syndigate.info).