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Oman’s BankDhofar launches SME business banking account

By Delisha Fernandes

March 06, 2024

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  • Bankdhofar
  • Banking Solutions
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Bankdhofar

BankDhofar, an Oman-based financial institution, has launched an SME Business Banking account to offer a diverse range of banking solutions.

The solution takes into consideration the day-to-day needs of the customers. It provides features aiding their business enhancement along with expanded branch networks, digital solutions, and strategic technology integration.

Key Features of the account:

  • Simplified Account Opening: Convenient account opening and documentation process, making it easier for businesses to get started with their banking journey. Customers can walk into any of the 115 branches across Oman.
  • POS Connection Support: With this account, customers can also take advantage of SoftPOS and normal POS (point-of-sale) systems. This will aid customers in their cash receivables and enhance their sales.
  • WPS Solution: BankDhofar offers a unique Wage Protection System (WPS) solution that simplifies salary payments and provides a convenient and efficient way to manage employee payroll. It allows the customer to process the salary online by uploading a file or walk-in to the extensive branch network and providing a bar-coded document to process the salary.
  • Cards: Customized credit and debit cards designed to meet the unique needs of SMEs.
  • RCCD Service: Remote Cheque Capture and Deposit services are designed to facilitate bulk cheque processing remotely and adds efficiency, flexibility, security, and cost effectiveness to SME’s business operations
  • Payment Gateway: It also offers payment gateway to aspiring SME customers to collect payments for their online transactions by integrating BankDhofar’s Payment Gateway on their websites or ecommerce platforms

The bank offers specialized advisory services to help SMEs select appropriate financing and banking solutions, aligned with their unique business models. Market insights are also provided, assisting SMEs to proactively address challenges and ensure smooth operations.

BankDhofar offers a range of investment solutions, including time deposits and financial products, to help businesses grow and maximize their surplus funds. The Bank has a dedicated department that oversees the implementation of its SME strategy. This department oversees the creation of new organic products and services and also extends towards collaborating with third parties to provide SMEs with financial and technical benefits.

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