Are You Building Oman with Digital Payments

The article focuses on the launch of the national payment card "Mal" in Oman, as part of a national system for managing and executing payment transactions within the country. "Mal" aims to enable the state to possess a local infrastructure that handles payments independently of international networks, thereby enhancing digital sovereignty and achieving economic benefits such as reducing transaction fees, increasing control over data, and improving system security. The article reviews the experiences of other countries like China, India, Turkey, and Saudi Arabia, which demonstrate that national networks become more valuable when integrated with the broader economy and when their acceptance among users and merchants expands. They contribute to strengthening the resilience of the financial system, especially during disruptions in global networks. The importance of "Mal" lies in reinforcing the local payments infrastructure and providing a more cost-effective and flexible domestic option. However, it does not aim to fully replace international networks but rather to enhance payment choices, reduce costs, and improve data management and security.