Regulators: Central Bank of Oman and the Financial Services Authority
Co-Regulatory Sandbox: contained environment in which some regulatory exemption is granted for innovators of fintech applications by the regulators to test their efficiency and viability for a group of volunteer clients.
Fintech: innovative applications aiming to render or develop financial services through reducing cost, enhancing safety and improving financial inclusion to contribute to financial development and economic growth.
Applicant: legal person Or registered company who apply to participate in direct testing in the Co-regulatory sandbox.
Participant: Applicant who obtained final approval from the regulators
Client: Person who volunteer in the test in the sandbox approved by the regulators
License: The license granted by regulators to carry out the business.
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