Latest news with #DhofarIslamic
Zawya
27-05-2025
- Business
- Zawya
Dhofar Islamic's High Yield Account: A smart way to grow savings
Muscat – Dhofar Islamic, the Sharia-compliant window of BankDhofar, is highlighting the enhanced features of its High Yield Account, which is designed to help customers accelerate the growth of their savings through attractive profit rates. The bank is inviting customers to take full advantage of its High Yield Account - a flexible and rewarding savings solution that is structured to help individuals grow their funds through competitive profit rates based on the Islamic principle of 'Mudarabah'. This account offers a swift and straightforward access via any Dhofar Islamic branch or its state of the art mobile application. Existing and new account holders benefit from instant debit card issuance and monthly profit payments. The actual profit is calculated and distributed on a monthly basis, giving customers a clear and consistent view of their savings growth. Dhofar Islamic also ensures round-the-clock access to services, including local and international transfers, standing instructions, payment orders and deposit offerings through its comprehensive mobile and internet banking platforms. In a High Yield Account, the higher your average monthly balance, the higher your returns. It is a smart way for customers to grow their savings in a manner that's fully aligned with Shari'a principles. It combines the convenience of modern banking with a profit-sharing model that rewards disciplined saving. Based on the Islamic concept of 'Mudarabah', the account operates under a partnership model where customers provide their funds for the bank's Sharia-compliant business activities and, in return, receive a share of the generated profits. A key feature of this account is its tiered profit structure, rewarding customers with progressively higher returns as their average monthly balance increases. The High Yield Account is available to Omani nationals and resident expatriates aged 18 and above, including salaried and self-employed individuals, as well as minors. Dhofar Islamic encourages both existing and potential customers to explore the benefits of this account and experience a smarter way to grow their wealth. Dhofar Islamic offers a wide range of Shari'a compliant financial solutions, products and services that cater to the needs of its retail and corporate customers, which is continuously being positively reflected in the responses of our valued customers. For more information on Dhofar Islamic's products and services, visit any Dhofar Islamic branch or our website at
Zawya
08-05-2025
- Business
- Zawya
Dhofar Islamic launches salary campaign to enhance customer benefits
Muscat - Dhofar Islamic, the Islamic Banking Window of Bank Dhofar," launched the "Salary Transfer" campaign, offering customers a comprehensive package of exclusive benefits designed to enhance their banking experience. The four-month campaign will offer a range of exclusive benefits and privileges for individuals who open new salary accounts or transfer their existing salaries to Dhofar Islamic. Customers with a minimum salary credit of RO 700 will enjoy first-year annual fee waiver on credit cards, as well as benefit from competitive financing rates, faster processing times, and flexible terms. In addition, the campaign features special debit and credit card offers; free debit card issuance for accounts opened through Dhofar Islamic mobile banking, and access to standby cash credit facilities via Dhofar Islamic credit card cash advance facility at competitive pricing. Commenting on the launch, Amor Al Amri, GM & Chief Dhofar Islamic Banking Officer , stated, 'This campaign reflects our commitment to delivering meaningful value to our customers while supporting our growth trajectory. By offering tailored benefits and enhanced digital access, we aim to strengthen our relationship with customers and make Dhofar Islamic their preferred banking partner.' The Salary Campaign aligns with Dhofar Islamic's long-term strategy to expand its customer base, improve market share and enhance brand visibility across the Sultanate. It underscores the bank's commitment to providing innovative and customer-centric financial solutions while contributing to the economic growth of the Sultanate of Oman. The bank has made significant strides in expanding its offerings, launching innovative products like the Savings Plan and MasterCard World Credit Card, and supporting the financing of major projects across sectors such as energy, real estate, and infrastructure. It has also established a 10-Year OMR 250 million Sukuk Al Musharaka Program enabling it to tap into Islamic capital markets. Dhofar Islamic's 25 branches network and its growing portfolio of Sharia-compliant products are testaments to its commitment to meeting the diverse needs of its customers. By continually innovating, embracing sustainability and supporting national development, Dhofar Islamic is set to play an even greater role in shaping the future of Islamic banking in Oman. For more information, customers are encouraged to visit their nearest Dhofar Islamic branch or visit or explore the available services via the Dhofar Islamic mobile banking app.
Zawya
29-04-2025
- Business
- Zawya
Dhofar Islamic's Children Account: A secure path to financial responsibility and future savings
Muscat- Dhofar Islamic offers Children Account aimed at introducing children to Shariah compliant financial services, the basics of banking, financial responsibility as well as to help families save and invest for short-term or long-term goals such as education. The Children Account is rooted in the Islamic concept of Mudarabah and promotes savings habit via its attractive profit rates. This Account is available for children up to the age of 13, ensuring that even the youngest members of society can begin their journey towards financial literacy. With no minimum balance required to open the account, it is accessible to a wide range of families, making it an ideal option for those looking to create a secure savings plan for their children's future. A key feature of the account is the monthly distribution of profits, calculated on the average monthly balance. This means that every deposit made in the account is earning a return, helping the savings grow over time. Moreover, the account facilitates the seamless integration of monthly social protection program benefits, ensuring that children receive essential financial assistance directly. Highlighting the significance of the Children Account, Amor Said Al Amri ,DGM & Head of Dhofar Islamic Retail Banking stated: 'This Account is designed to empower parents to start saving for their children's future while simultaneously fostering financial responsibility from a young age. It serves as a solid foundation for important milestones, like education, while also introducing children to the concepts of money management, saving, and financial planning.' While the account is managed by the parent or guardian, who can deposit and withdraw funds at any time, Dhofar Islamic offers the convenience of an instant debit card issued in the guardian's name. This feature ensures easy access to funds while maintaining parental control. For those looking to open the account, the process is straightforward. Parents or legal guardians can easily open an account with just a few documents, such as the child's passport or national ID, the guardian's ID, proof of address, and additional documents for non-Omani residents. Dhofar Islamic remains committed to supporting families and the future of children in Oman, ensuring that every child has the opportunity to achieve their financial aspirations and goals. Through this initiative, the bank is not only securing a child's future but also empowering parents to take control of their financial journey. For more information on the diverse range of Shariah-compliant products and service offered by Dhofar Islamic please visit or contact us through 24/7 call centre services on 24775777.
Zawya
28-04-2025
- Business
- Zawya
BankDhofar's ladies account: Exclusive services for modern life
Muscat – Designed to cater to the needs of Omani and expatriate women across the Sultanate, BankDhofar's Ladies Account continues to offer a wide range of financial and lifestyle benefits. It boasts improved benefits including, a higher interest rate on high yield accounts, and exclusive merchant offers. The key feature of the enhanced offering is the visually distinctive new vertical purple debit card, providing a modern and personalised way for Ladies Account holders to manage their finances. Additionally, account holders benefit from the preferential high yield interest rates of up to 4.15 percent on savings, allowing customers to grow their wealth while maintaining easy access to their funds. Additionally, the Bank recently launched an exclusive credit card, offering a range of services such as exemption from annual fees for the first year, and benefiting from exclusive rewards through the reward points program that can be redeemed through the mobile banking application or website. In addition BankDhofar's Ladies credit card also offers, unlimited airport lounge access in Muscat ,Salalah and Duqum, comprehensive travel and purchase protection, and global acceptance in millions of locations across the world. Commenting on the significance of the account, Amjad Al Lawati, Chief Retail Banking Officer of BankDhofar said, 'BankDhofar has long been dedicated to serving the specific financial needs of women in Oman through the Ladies Account. Introduction of the exclusive vertical purple debit card, alongside other enhanced benefits, underscores our ongoing commitment to this important segment. The account is open to female Omani nationals and expatriates aged 23 years or above, with the minimum age of 18 years for those who have their salary assigned to BankDhofar. The bank's strategy is centered on providing an exceptional and unique experience to customers through distinctive and exclusive services and offers, and deepening existing relationships and retaining them. The bank anchors on relationship banking growth oriented model built on customer centricity, accountability, collaboration, performance driven. BankDhofar's extensive branch network of 131 branches, including Dhofar Islamic across Sultanate of Oman ensures convenient access for all customers. The bank also provides comprehensive mobile banking services, including bill payments (mobile and utility), cardless cash withdrawals, and Dhofar Pay , Apple Pay, and Samsung Pay activation, facilitating seamless and secure financial management. For more information about the enhanced BankDhofar Ladies Account, interested individuals are encouraged to visit the bank's website:
Zawya
24-04-2025
- Business
- Zawya
BankDhofar named Oman's fastest growing bank by branch network
Muscat – BankDhofar has been recognized as Oman's Fastest Growing Bank in terms of branch network expansion by world business outlook magazine . This prestigious award highlights the bank's commitment to enhancing accessibility and delivering a comprehensive suite of banking services tailored to meet the evolving needs of its diverse customer base. In the past two years, BankDhofar expanded its footprint by opening over 43 new branches, bringing its total to 131 branches across Oman, including 25 Dhofar Islamic branches. This achievement positions BankDhofar as the second-largest bank in the country in terms of branch network, with state-of-the-art facilities equipped with modern technology to enhance customer experience. BankDhofar continues to cater to a broad customer base, offering specialized banking solutions for women, youth, minors ,children, and high-income groups, particularly Al Riyada and Al Rifaa cardholders. High-net-worth individuals and their families also benefit from exclusive, confidential financial services designed to meet their unique needs. To support long-term financial planning, the bank provides investment and savings solutions, including fixed and recurring deposit accounts, education savings plans to help parents secure their children's higher education, and retirement savings accounts to assist employees in building long-term financial security. With customer experience at the heart of its operations, BankDhofar has taken proactive steps to enhance service quality, address customer feedback, and streamline banking processes. This has directly increased the onboarding of new customers through traditional and Islamic banking services in the last year, bringing the total number of customers to 600,000. Additionally, BankDhofar has strengthened its cybersecurity infrastructure, ensuring robust protection for customer data and banking operations. Reflecting its strong growth trajectory, BankDhofar reported a 12.5% increase in net profits, reaching OMR 43.6 million in 2024, compared to OMR 38.7 million in 2023. The bank also invested heavily in digital banking solutions, being among the first in Oman to introduce Apple Pay and Samsung Pay for seamless transactions, wholesale cash deposit machines to enhance business banking, and Easy Biz, a digital collections and settlement platform for enterprises. By prioritizing expansion, innovation, and customer satisfaction, BankDhofar continues to solidify its position as a leading financial institution in Oman.
