The Islamic banking sector in Oman has seen a transformative journey since its inception over a decade ago. Today, it plays a pivotal role in driving economic growth, financing critical projects, and aligning with Oman Vision 2040.
Amor Said Mohamed Al Amri, DGM & Head of Retail Banking, Dhofar Islamic, highlighted the sector’s robust growth. “Over the last ten years, Islamic banking in Oman has matured significantly, gaining a growing share of the market. This progress reflects the expertise, visionary leadership, and ability to innovate while meeting the needs of society and investors alike.
Dhofar Islamic, formerly known as Maisarah Islamic Banking, has emerged as a key player in Oman’s Islamic banking sector. Its recent rebranding signifies a renewed commitment to innovation and customer-centricity. “The new Dhofar Islamic identity embodies a blend of heritage and modernity, symbolized by our logo’s transition from a single star to a galaxy of capabilities, reflecting our core values of ethical banking, transparency, and excellence.
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.
Supporting small and medium enterprises (SMEs) is a top priority for Dhofar Islamic. The bank provides financing, training, and consulting services to foster innovation and entrepreneurship. It has also significantly invested in digital banking, enhancing customer experiences through mobile applications and electronic payment systems.
Dhofar Islamic’s 25-branch 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.
