The new branch forms part of BankDhofar’s larger strategy to strengthen its presence across Oman. By extending its reach to Thumrait, the bank aims to tap into the economic potential of the Dhofar region, known for its flourishing trade and investment opportunities. BankDhofar's leadership emphasized that this branch is positioned to provide tailored financial services to meet the specific needs of the local community and nearby businesses, especially in sectors such as agriculture and tourism, which are pivotal to the region’s economic growth.
Sheikh Ahmed bin Hamad Al Maawali, who officiated the event, applauded the bank’s initiative, highlighting its contribution to the local economy. He emphasized the importance of expanding banking services to remote areas, where financial institutions play a crucial role in economic development. Thumrait, historically a key trading center in southern Oman, has seen a steady rise in commercial activities over the past decade, and the addition of a BankDhofar branch is expected to support this upward trajectory.
The launch of the new branch is part of BankDhofar’s broader expansion plan, which aims to reach underserved regions and offer more accessible banking services to a wider segment of the population. According to senior officials at the bank, the Thumrait branch will provide a full suite of banking services, including personal banking, corporate solutions, wealth management, and digital banking services. The bank’s management expressed optimism that the new facility will meet the growing needs of local customers, who are increasingly looking for modern and efficient banking solutions.
In a statement from the bank’s CEO, Abdul Hakeem Omar Al Ojaili, he emphasized the institution’s commitment to enhancing customer service and supporting economic development in Oman. He noted that BankDhofar has always sought to be at the forefront of technological advancements in the banking sector, and the new branch in Thumrait will be no exception. Al Ojaili highlighted the bank’s investments in digital infrastructure, which have allowed it to offer innovative solutions such as mobile banking and online financial services. These features will be fully integrated into the Thumrait branch, ensuring customers can access cutting-edge banking technologies.
BankDhofar has been at the forefront of digital transformation within the Omani banking industry, consistently upgrading its systems and services to meet international standards. Its focus on digital innovation has been well received by customers, particularly during the global shift towards online services. The Thumrait branch will feature digital kiosks, enabling customers to perform a range of transactions without having to visit tellers. These innovations are part of the bank's ongoing efforts to streamline operations and provide convenient banking experiences for customers across the country.
The Dhofar region, in particular, has been identified as a key growth area for BankDhofar. With its rich natural resources and expanding tourism sector, Dhofar presents significant opportunities for financial institutions. The governorate has attracted investment from various industries, including logistics, fisheries, and renewable energy, which are expected to further drive economic growth in the coming years. BankDhofar’s presence in Thumrait is seen as a strategic step to position the bank as a partner in this growth, offering customized financial products to businesses and individuals in the region.
Local businesses have welcomed the opening of the branch, viewing it as a positive development that will facilitate easier access to credit and other financial services. Small and medium-sized enterprises (SMEs) in the region, particularly those involved in agriculture, have expressed optimism that the branch will provide them with the support needed to scale their operations. BankDhofar has a long-standing track record of supporting SMEs through various initiatives, including dedicated loan programs and advisory services.
The bank's leadership also emphasized its commitment to corporate social responsibility (CSR), highlighting that the new branch will play an active role in supporting local community initiatives. Over the years, BankDhofar has been involved in various CSR programs across Oman, focusing on education, environmental sustainability, and economic empowerment. The bank plans to continue these efforts in Thumrait, working closely with local authorities to identify areas where it can make a meaningful impact.
BankDhofar’s expansion to Thumrait comes as part of a broader trend within the Omani banking sector, where financial institutions are increasingly looking to diversify their offerings and reach new customer segments. With the country’s Vision 2040 plan placing a strong emphasis on economic diversification and private sector development, banks like BankDhofar are positioning themselves to play a critical role in financing the growth of new industries and supporting national development goals.