Potential of Financial Technology in Transformation of Islamic Banking Sector in Oman

The overall aim of this paper is to explore the potential fintech in transforming Islamic banking industry Oman. banks Oman lack economies scale, limited nationwide outreach, low penetration rate due level public awareness. FinTech present a huge opportunity for sector be more competitive marketplace. Data and technology are converging, so, at end day, must deliver excellent financial services relatively cost. Collaboration or joint venture between firms will allow attract customers, increase efficiency, but importantly introduce proposition youth excited join drive its development growth.