Thawani and BankDhofar partner to offer advanced FinTech products

By Leandra Monteiro

Thawani Technologies, an Omani digital payments platform, has signed a strategic partnership with BankDhofar, a bank in the Sultanate, to introduce trending and innovative solutions to the market. This partnership in Oman comes after Thawani Technologies acquired its payment solutions provider license from the Central Bank of Oman (CBO), and will see the company bring FinTech solutions to the table, while BankDhofar will provide its extensive infrastructure and expertise towards accelerating Oman’s digital transformation and the trending remote payments.

Eng. Majid Al Amri, Founder and CEO of Thawani Technologies Company said, “BankDhofar is one of the fastest growing institutions in the Sultanate and has long been a trend-setter in digital payment services. This underscores the confidence of the private sector, as well as the small and medium enterprise community in Omani entrepreneurs recognizing their pivotal role in streamlining digital transformation in the Sultanate.” He added, “We aim to promote innovation in the market in order to meet the discerning requirements of customers looking for not only smart solutions to help them seamlessly run their businesses, but also, to remain ahead of the curve when it comes to top-notch digital services. We are confident that with such partnerships with the banking sector, we will take smart digital payments’ services to a whole new level in Oman.”

Dr. Tariq Taha, Chief Retail Banking Officer at BankDhofar said, “We are pleased to start this long-term partnership with Thawani Technologies, in order to provide the market with robust electronic payment solutions ensuring ease and flexibility. By joining forces, we can deliver excellent customer experience in this fast-moving landscape.”

As the supervisory and regulatory authority of the National Payment Systems, CBO has been developing the technical capabilities of the banking and financial system which supports modern financial technology. In 2017, CBO launched the Mobile Payment Clearing and Switching System allowing corporates to make payments and conduct transfers conveniently through mobile phones. In 2018, CBO introduced the National Payment Systems Law to create a conducive and legislative environment, while keeping pace with the latest trends in the payments system sector in the Sultanate. This agreement is part of BankDhofar’s continuous transformation plan, which puts digital technology and innovation at the core of its strategy.