← Embedded Finance Index 2026

Bankdhofar

“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?”

Founded1990
HQMuscat, Oman
Total raised$613.0M
IndustryBank / National
The story

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.

Last 12 months
2024-01
2024-01
2025-01
Product timeline
1990
Founded and licensed by the Central Bank of Oman as Bank Dhofar SAOG.· banking
2015
Launched Dhofar Islamic, an Islamic banking window offering Sharia-compliant products including Murabaha, Mudaraba and Wakala financing.· banking
2023
Launched Numo SME Banking proposition offering POS-linked financing and tailored SME products.· lending
2024
Launched Dhofar Pay contactless payment wallet to enhance digital payments in Oman.· card
2024
Selected Entrust to enable digital card and in-app payment capabilities for cardholders.· card
2024
Launched Intelligent Easy Payment Plan (iEPP) for credit card holders to buy in 0% interest instalments.· lending
2025
Partnered with MetLife to distribute Critical Illness Care, Circles of Protection and Salary Protect insurance products via bancassurance.· banking
Regulated entities
1
regulatory licence held by Bankdhofar
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
3 layers disclosed in Bankdhofar’s embedded-finance stack
Card issuing
Entrust
Lending
in the full report
KYC
in the full report
Accounting gap: none
12 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.