MUSCAT – Dhofar Islamic, the Islamic banking window of BankDhofar, has announced the opening of five new branches in key locations across the Sultanate, strengthening its network to a total of 30 branches covering all governorates of Oman. This milestone underscores Dhofar Islamic’s growing role
in advancing the future of Islamic banking through innovative Sharia-compliant products and services that align with the goals of Oman Vision 2040.

The new branches are located in Sinaw, Al Bidaya, Al Qurum, Bahla, and Khazaen Economic City. Through its expanding footprint, Dhofar Islamic continues to deliver comprehensive financial and investment advisory services and financing solutions for a wide range of projects. The Bank places strong emphasis on supporting small and medium-sized enterprises (SMEs), fostering innovation, entrepreneurship, and sustainable economic growth.

Serving all segments of society, Dhofar Islamic offers tailored products and services for children and minors, youth, women, entrepreneurs, and Al-Riyadah cardholders, meeting their diverse financial needs. The Bank remains committed to keeping pace with evolving trends in the Islamic banking sector, providing innovative, Sharia-compliant solutions that meet the highest standards of quality and transparency.

It is also investing heavily in digital banking, enhancing customer experiences through mobile applications and electronic payment systems. In response to growing demand for Islamic investment products, Dhofar Islamic has launched several Sukuk issuances as part of its Islamic treasury services,
offering customers advanced financial solutions rooted in Sharia principles. Notably, Dhofar Islamic introduced a 10-year Musharaka Sukuk programme valued at OMR 250 million, enabling access to Islamic capital markets and reinforcing its position as a trusted Islamic investment partner.

Reflecting its expertise, OQ Base Industries (OQBI), a Salalah-based petrochemicals company, has appointed Dhofar Islamic to review and certify the Sharia compliance of its financial and commercial activities. Upon completion, a Sharia compliance report endorsed by Dhofar Islamic’s Sharia Supervisory Boardwill be submitted to the Muscat Stock Exchange and shared with investors and
stakeholders.

Formerly known as Maisarah Islamic Banking Services, Dhofar Islamic’s rebranding reflects its renewed commitment to innovation, Sharia compliance, and customer-centricity. Its new identity blends heritage with modernity, underscoring its values of transparency and integrity.

Financially, Dhofar Islamic reported strong growth in the first half of 2025. Total income from financing, investments, and deposits rose to OMR 25.72 million, up from OMR 23.49 million in the same period last year. Total assets increased by 9.68% to OMR 999.23 million, while customer deposits surged by 26.10% to OMR 798.68 million, compared to OMR 633.36 million a year earlier.