COVERAGE

Trusted Compliance Solutions for Oman

Specialised compliance solutions for Oman, engineered to meet local regulatory standards so your operations remain protected and efficient. 

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Who are the regulators in Oman?

National Anti-Money Laundering and Terrorism Financing Committee (NAC)

Oman’s NAC oversees AML/CFT, coordinates policies, and ensures inter-agency implementation to protect the financial system.

National Centre for Financial Information (NCFI)

Oman’s FIU collects, analyzes, and disseminates suspicious transaction reports, collaborating with national and international agencies to ensure AML/CFT compliance across all sectors.

Central Bank of Oman (CBO)

The Central Bank of Oman regulates banks, financial institutions, and money service businesses to comply with AML/CFT laws, apply risk-based controls, retain records, and report suspicious activities to the NCFI.

Capital Market Authority (CMA)

Regulates Oman’s securities sector, ensuring brokers and investment firms comply with AML/CFT laws through monitoring, audits, and enforcement of robust compliance policies and controls.

Ministry of Commerce, Industry, and Investment Promotion (MOCIIP)

The MOCIIP oversees DNFBPs, ensuring customer due diligence, suspicious activity reporting, and AML/CFT compliance.

Who is regulated in Oman?

Financial Institutions (FIs)

Who are classified as FIs?

Banks
Credit Institutions
Payment Service Providers
Money Exchange Houses
Insurance and Takaful companies
Investment Firms

Designated Non-financial Businesses and Professions (DNFBPs)

Who are classified as DNFBPs?

Real Estate Agents
Precious Metal Dealers
Lawyers
Auditors
Virtual Asset Service Providers (VASPs)
Company Service Providers

Expectations for regulated firms

Firms must adopt a risk‑based approach to ML/TF risk, perform Customer Due Diligence (CDD) including beneficial‑owner verification, monitor transactions and submit Suspicious Transaction Reports (STRs) to the national FIU.

Entities must appoint a senior‑level compliance officer (MLRO), maintain internal controls and audit functions, and ensure board‑level oversight of AML/CFT compliance.

AML/KYC Checklist for Oman

  • Verify identity and legal status of clients (natural or legal persons); verify beneficial owners for entities.
  • Conduct risk profiling (considering PEPs, sanctions exposure, geography, product /channel risk) and apply Enhanced Due Diligence (EDD) where needed.
  • Maintain records of CDD, monitoring and STRs for the statutory retention period; monitor ongoing business relationships and update customer risk as required

Supervision & Enforcement

The CBO and FSA supervise regulated entities through inspections and enforce AML/CFT rules; they have authority to issue warnings, fines, freeze assets, suspend licences and disqualify individuals for non‑compliance.

For example, the Capital Market Authority (Oman) warned companies under Article 52 of the AML law and may impose fines between OMR 10,000 and OMR 100,000 for non‑compliance.

Supported ID documents from Oman

National ID

Idenfo can verify the Omani National ID, issued by the Royal Oman Police, ensuring accurate data matching and full compliance with Omani regulatory requirements.

Document Verification

  • Evaluates document quality by checking for glare or blur.
  • Identifies any signs of tampering or forgery within the document.
  • Confirms the authenticity of hologram prints.
  • Extracts key data using optical character recognition (OCR).

NFC Scanning

  • Reads data from the identity card's NFC chip.
  • Verifies the NFC chip data for integrity and authenticity.

Omani Passport

Idenfo verifies Omani passports issued by the Royal Oman Police, confirming the holder’s name, date of birth, and contact details as part of Enhanced Due Diligence for KYC in Oman.

Document Verification

  • Evaluates document quality by detecting glare or blur.
  • Identifies potential tampering or forgery.
  • Verifies the document’s format for accuracy.
  • Cross-checks data against the MRZ code and hologram.

NFC Scanning

  • Reads data from the passport's NFC chip.
  • Verifies the NFC chip data for integrity and authenticity.

How it works

Document Capture

Scan and extract key identity details from official documents.

Liveness Check

Ensure the person is real and matches their verified ID photo.

Data Verification

Cross-check personal details against trusted government sources.

Risk Screening

Assess AML and sanctions risks before onboarding customers.

User Authentication

Simplify returning logins with secure biometric authentication.

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