BankDhofar and Taageer Finance Forge Strategic Partnership to Redefine Customer-Centric Financial Services
BankDhofar, the Sultanate’s second-largest bank by branch network, has signed a landmark Memorandum of Understanding (MoU) with Taageer Finance Company SAOG, one of Oman’s leading non-banking financial institutions. This strategic alliance aims to deliver innovative, customer-focused financial solutions that set new benchmarks for convenience, security, and efficiency.
The partnership underscores both organizations’ shared vision to accelerate Oman’s financial services transformation by leveraging advanced technologies such as Open Banking, Direct Debit, and Virtual Account-based collections. These innovations will empower customers with seamless, secure, and integrated services while ensuring strict adherence to data privacy and regulatory compliance.
“Through this collaboration, BankDhofar reaffirms its commitment to driving digital transformation and creating tangible value for customers, by joining forces with Taageer Finance, we aim to unlock synergies that enhance convenience, efficiency, and security for individuals, SMEs, and corporates alike.”” said Maryam Yousuf Al Balushi, AGM & Head of Large Corporates & Stressed Assets.
BankDhofar has consistently led the way in digital banking innovation in Oman. Its robust digital ecosystem integrates open banking principles, direct debit, salary payments, and virtual account capabilities to deliver a unified, customer-first experience. Flagship solutions include:
Business Digital Banking Platform consolidating multiple accounts under a single user ID and streamlining payroll, bulk transfers, utility payments, and account management and Intilaqa Digital Onboarding App – enabling paperless account opening and KYC verification via secure video calls.
Integration with national systems such as Mala’a (Oman’s Credit and Financial Information Centre) further enhances efficiency, compliance, and customer trust in digital-first processes.
This digital ecosystem delivers a seamless and secure experience built around customer convenience and trust. It offers anytime, anywhere access without paperwork, supported by robust security protocols that protect every transaction and data exchange. Designed for speed and efficiency, it enables faster onboarding, payments, and financial management, while ensuring comprehensive coverage through tailored solutions that meet the diverse needs of personal, SME, and corporate clients.
For Taageer Finance, this collaboration marks a pivotal step in its digital transformation journey. Established in 2000 and listed on the Muscat Stock Exchange, Taageer Finance offers a diverse portfolio including auto loans, consumer financing, leasing, working capital, structured finance, and corporate deposit solutions.
Together, BankDhofar and Taageer Finance are shaping a new era of collaboration in Oman’s financial sector. By combining BankDhofar’s digital leadership with Taageer Finance’s expertise in non-banking financial services, the partnership aims to co-create solutions that support customers at every stage of their financial journey—anchored in innovation, compliance, and trust.
