Thawani Ranks Among Middle East’s Top 50 Fintech Companies for Third Consecutive Year

Muscat:  Thawani Technologies has been ranked 42nd on Forbes Middle East’s list of the region’s 50 strongest financial technology companies for 2026, becoming the only Omani company featured in the ranking for the third consecutive year.

The recognition highlights the company’s continued expansion in digital financial services and reflects the growing presence of Omani businesses in the region’s increasingly competitive financial technology sector.

Thawani’s position in the ranking comes amid the expansion of its digital payment services, growing user base and merchant network, alongside the development of solutions catering to individuals, businesses and institutions.

The achievement also reflects Oman’s wider efforts to advance its digital economy, encourage innovation and strengthen the business environment for investment and entrepreneurship, in line with the objectives of Oman Vision 2040 and the Eleventh Five-Year Plan (2026–2030), which identifies the digital economy as a key contributor to economic diversification and sustainable growth.

Engineer Majid bin Fayel Al-Amri, founder, general manager and board member of Thawani Technologies, said the company’s inclusion in the Forbes Middle East ranking for the third consecutive year marks an important milestone and demonstrates the competitive capabilities of Omani companies in financial technology.

He added that the recognition reflects the maturity of Oman’s fintech ecosystem, investment in national talent and innovation, and the confidence placed by customers and partners in the company’s services.

Since its establishment, Thawani has focused on developing digital financial solutions designed to make everyday transactions easier, safer and more efficient. The company continues to expand its services, introduce payment technologies and strengthen strategic partnerships to support individuals, businesses and institutions.

According to data published by Forbes Middle East, Thawani processed financial transactions worth more than US$428 million in 2025. By the end of December that year, its application had recorded more than 383,000 downloads, while its user base exceeded 216,000. The company also had a network of more than 5,500 merchants and had issued 22,000 prepaid Visa cards.

These figures point to the growing adoption of digital payment services in Oman and the role of fintech companies in supporting the transition towards electronic transactions and wider financial inclusion.

Thawani has also expanded its product portfolio, obtaining a licence from Visa International to issue credit cards and launching the “Mojab for Business” card to help companies manage their expenses.

Its services include digital payment acceptance, online payment gateways, payment links and point-of-sale solutions using smart devices. Through the Thawani application, customers can also access bill payments, international money transfers, insurance and card services.

The company has further developed the “Thawani Store”, which offers shopping and instalment payment options for customers.

As part of its continued focus on innovation, Thawani is developing advanced payment technologies based on biometric solutions and expanding partnerships with public- and private-sector institutions. These efforts aim to broaden access to digital financial services, improve transaction efficiency and support digital transformation across economic sectors.

Thawani’s latest recognition adds to the growing profile of Oman’s digital financial services industry as the country pursues its broader goals of innovation, economic diversification and a more competitive digital economy under Oman Vision 2040.