“Can BankDhofar evolve from a traditional Omani commercial bank into a digital-first financial services platform by layering contactless payments, digital card issuance, bancassurance, and SME embedded finance onto its dominant branch network?”
Founded in 1990 as a conventional Omani commercial bank, BankDhofar has grown to become the second-largest bank in Oman by branch distribution, with OMR 5.35 billion in total assets. Over the past decade the bank layered in an Islamic banking window (Dhofar Islamic), a dedicated SME proposition (Numo), and digital payment products (Dhofar Pay) to diversify revenue beyond traditional corporate and retail lending. Its current embedded-finance angle is primarily bancassurance (MetLife partnership) and digital card issuance (Entrust), rather than a platform play for third parties.
Bankdhofar's cards are issued through Entrust.
Bankdhofar uses Entrust for KYC and identity verification.
The Embedded Finance Index 2026 maps 3 layers in Bankdhofar's stack: Card issuing (Entrust); Lending (Short-term working capital loans, Long-term commercial term loans, Capex financing, Real estate loans and 7 others); KYC (Entrust).
Bankdhofar is founded in 1990 and headquartered in Muscat, Oman.
Bankdhofar has raised $613.0M in total.
Get a read on where your own stack stands against Bankdhofar and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.