BankDhofar and Social Protection Fund Partner to Advance Fintech Innovation in Oman

BankDhofar  has signed a cooperation agreement with the Social Protection Fund  to advance financial technology solutions, underscoring the bank’s commitment to driving innovation in Oman’s banking sector and supporting the ambitions of Oman Vision 2040.

Under the agreement, BankDhofar will provide a suite of advanced digital tools, including virtual accounts for efficient cash flow management, secure digital banking transactions, and innovative B2B services designed to empower businesses with the latest financial technologies.

As a pioneer of digital innovation in Oman, BankDhofar has consistently introduced transformative solutions. In 2024, it launched Dhofar Pay, enabling customers to settle bills with a simple phone swipe at retail POS devices, followed by the rollout of Samsung Pay and Apple Pay. This year, the bank extended its digital offering to SMEs with a specialized platform supporting self-registration, secure payroll solutions, and comprehensive digital services. Strategic partnerships with international firms have further strengthened its infrastructure, while artificial intelligence tools continue to enhance security and innovation.

BankDhofar also holds the distinction of being the first bank in Oman to enable RippleNet-powered remittances to India, offering customers instant, low-cost cross-border transfers. Its expanding portfolio includes online payment gateways—such as those integrated with Oman Air—and the relaunched “Intilaqah” digital onboarding app, which provides seamless account opening through video-based KYC, direct integration with the Mala’a Credit Information Center, and a fully digital experience.

Security remains a cornerstone of BankDhofar’s digital journey. The bank employs AI-driven transaction monitoring, advanced anti-fraud systems, and regular awareness campaigns to safeguard customers in an increasingly digital economy.

With more than 140 branches across the Sultanate, equipped with the latest technology and highly trained professionals, BankDhofar is shaping the future of digital banking in Oman. By combining global best practices with local expertise, the bank continues to play a pivotal role in accelerating the nation’s digital economy and enabling institutions like the Social Protection Fund to deliver greater value to the communities they serve.