Oman’s BankDhofar pens deal with Trust FinTech to offer banking solutions

By Shilpa Annie Joseph, Official Reporter
  • Follow author on
Representational Image

Oman-based leading financial institution BankDhofar has signed an agreement with Trust Fintech Company in order to provide banking solutions to the customers.

This move is in line with the bank’s ongoing efforts to support innovative FinTech initiatives. According to the statement, “With this partnership, anyone with any bank’s valid Debit card issued in Oman can register and transfer with a few clicks.”

The agreement was mutually signed by Dr. Tariq Taha, Chief Retail Banking Officer at BankDhofar, and Mr. Ahmed Al Rahbi, CEO of Trust Fintech.

Dr. Tariq Taha
Dr. Tariq Taha
Chief Information Officer

“We are glad to sign this agreement with Trust Fintech, as it goes hand-in-hand with our strategy to support initiatives aiming to redefine the payment methods through transforming into digital payments. The banking solutions which will be provided to Trust FinTech will contribute to improving the convenience and efficiency of online transactions, which is the direction supported by the Central Bank of Oman to encourage the adoption of FinTech services in the Sultanate.”

“As FinTech is shaping the future of our finance, we at BankDhofar realize the importance of integrating new technologies into our business. Thus, we have been at the forefront to support FinTech initiatives through collaborating with companies that are delivering innovative business models,” Dr. Taha added.

Mr. Al Rahbi stated that, “Trust Fintech was established in September 2019 to contribute to Oman’s Digital economy. Trust Fintech is built on CBO’s vision of having a dynamic digital financial ecosystem that fosters financial innovation and development, and we look forward to spurring economic growth with the unique offering that we are bringing to the market.”

“Through the partnership with BankDhofar we aim to make use of the core banking functionalities offered by BankDhofar to bring an instant transfer facility for any user in any bank in the Sultanate, 24×7,” the CEO further added.

Related: UAE’s Network International & Saudi-based Foodics to boost F&B payments