Sohar International Launches the "Maal" National Payment Card Under CBO Initiative

Sohar International has launched the Maal national payment card, operating on Oman's OmanNet domestic payment network, as part of a strategic initiative endorsed by the Central Bank of Oman.

The card ensures that all domestic point-of-sale, ATM, and e-commerce transactions are processed entirely within Oman's national payment infrastructure, enhancing data sovereignty and reducing the foreign exchange costs associated with routing domestic transactions through international card networks.

Sohar International said the Maal card supports Oman's broader financial sovereignty objectives under Vision 2040. By processing domestic transactions locally, the card keeps payment data within Omani borders and reduces dependence on international networks for transactions that do not require cross-border capabilities.

The OmanNet network provides the processing infrastructure for Maal cards, handling authorisation, clearing, and settlement for domestic transactions. For cross-border use, Maal cards can be co-branded with international networks to ensure global acceptance.

The launch of Maal by Sohar International follows the Central Bank of Oman's initiative to establish a domestic card scheme similar to those operating in other Gulf markets, including Saudi Arabia's mada and the UAE's Jaywan. These national schemes give regulators and banks greater control over domestic payment processing while reducing costs for merchants.

Sohar International's early adoption of the Maal card positions it as a leading participant in Oman's domestic payment infrastructure development.