Muscat – BankDhofar is setting new benchmarks in the world of modern banking with its cutting-edge Transaction Banking Services. Committed to innovation and customer satisfaction, the Bank continues to raise the bar, delivering unparalleled convenience and efficiency to its valued Corporate, Small and Medium Enterprises, and Government customers.

Over the past several decades, BankDhofar has been at the forefront of the banking industry, empowering individuals and businesses alike to achieve their financial ambitions. Their cutting-edge Wholesale Banking approach reaffirms their dedication to excellence and cements their position as a trailblazer in the financial sector. As part of the wholesale banking strategy, BankDhofar has embraced the latest technological advancements and charted a transformative roadmap to enhance the financial landscape.

Established in 2022, the Transaction Banking Division empowers customers to effortlessly manage their financial transactions with its ground-breaking suite of services, designed to streamline banking experiences, enhance security, and transform customers’ banking journeys.

The division is focused on providing clients with effective solutions to manage their collections and payments digitally, backed by a robust MIS and reconciliation platform. Their main objective is to help clients enter new markets and capitalize on existing sales and supply chains with aims to improve key relationships, mitigate risks, and optimize working capital while providing receivables and payables financing facilities.

The Trade Finance Sales unit under this division is a testament to the Banks commitment to support and facilitate growth by enlisting professionals specialized in selling trade products and providing customers with effective trade solutions. The success of its operations delivery has been corroborated by customers in a recent survey, which demonstrated a high Net Promoter Score in providing world-class services to its clients.

BankDhofar believes that forging strong partnerships is the cornerstone of sustainable growth, which is why it seeks to closely understand the specific needs of its clients before sharing customized solutions, including fund and non-fund based structures. This not only helps mitigate payment risks for buyers and sellers but also accelerates expansion into new and existing markets, thereby driving revenues and market shares. Consequently, customers can free up their cash flow, unlock cash to reinvest in their businesses, enhance reconciliation, and enjoy financing support to key counterparties.

Commenting on the Transaction Banking Services, Fatema Salim Abdullah Barham Baomar, Head – Trade & Transaction Banking at BankDhofar, said, “At BankDhofar, we believe that banking should be a seamless experience that fits into our customers’ busy lives. Transaction banking is an expression of our commitment to empower businesses with bespoke financial solutions. It redefines the transaction banking experience, simplifies complex processes, and delivers real value to our clients. Through strategic partnerships, cutting-edge technology, and a deep understanding of our clients’ evolving needs, we are shaping the future of banking and propelling businesses towards unprecedented growth and success.”

BankDhofar’s Transactional Banking services underscore its relationship with its customers; it enhances financial management while reinforcing trust and transparency. As the pioneer in introducing innovative banking solutions in Oman, BankDhofar continues to shape the future of banking and raise the bar for excellence.

It is important to note that BankDhofar is the first corporate center in Salalah to have a corporate branch, Trade Finance operations, Business Banking, Trade Sales, and Treasury Relationship Managers under one umbrella.