BankDhofar has launched Basic Savings Account for the Wage Protection System, a new banking product specifically designed for employees earning a monthly salary of OMR 350 or less. This new product reflects BankDhofarโs commitment to providing accessible financial products that meet the needs of different segments of society and support the integration of individuals into the banking system in the Sultanate of Oman.
The new product aims to facilitate access to safe and reliable banking services for both citizens and residents, and to provide a financial environment that ensures the speed and ease of conducting daily transactions. This, in turn, enhances financial stability and contributes to the development of the electronic payment system in the Sultanate of Oman.
The new account also offers a range of features that align with customer needs and provide them with an efficient banking experience. These include no minimum balance requirement, giving customers complete flexibility in managing their money without any obligations, and no account closure fees, providing a convenient banking experience free from additional financial burdens.
In addition, customers will receive a free national payment card, โMaal,โ upon opening the account. The card is dedicated for use within the Sultanate of Oman and allows customers to conduct daily transactions easily and securely. Customers can also benefit from digital banking services through the BankDhofar mobile app and online banking, including 24/7 account viewing and transaction management.
Account opening will be subject to a set of conditions, including a maximum balance of OMR 3,000, a daily cash deposit limit of OMR 100, a daily cash withdrawal limit of OMR 500, and a limit of OMR 500 for local and international transfers.
Those wishing to open a Basic Savings Account can visit any of BankDhofar’s more than 145 branches located throughout the Sultanate of Oman. Bank staff will complete the simplified Know Your Customer (KYC) process and assist with filling out the account opening form.
The launch of the Basic Savings Account under the Wage Protection System represents an important step that aligns with Oman Vision 2040, which focuses on promoting financial inclusion, enhancing the structure of the banking sector, and improving its efficiency to meet the aspirations of the national economy. The introduction of this new product also reaffirms BankDhofarโs commitment to offering innovative banking solutions based on best practices and tailored to meet the diverse needs of customers, whether individuals or institutions.
