BankDhofar Launches Dedicated Digital Banking Platform for SMEs

BankDhofar has launched a dedicated digital banking platform designed specifically for small and medium enterprises, extending its digital capabilities to business customers with features tailored to their operational needs.

The platform offers SME-specific functionality including self-registration, bulk salary upload, secure Wage Protection System payments, and business card services. These capabilities address the operational requirements that distinguish business banking from retail services, where SMEs need tools for payroll management, supplier payments, and cash flow monitoring.

The WPS integration is particularly significant for Omani businesses, as the Wage Protection System is a regulatory requirement that mandates electronic salary payments for employees. BankDhofar's platform enables SMEs to manage WPS compliance through a streamlined digital process rather than manual bank branch submissions.

BankDhofar said the SME platform reflects its commitment to supporting Oman's small business sector, which is a key pillar of the country's Vision 2040 economic diversification agenda. The Sultanate has been encouraging the growth of SMEs as an alternative to dependence on oil revenues, and access to modern digital banking services is considered essential for business formation and growth.

The launch builds on BankDhofar's broader digital banking programme, which has included the Dhofar Pay mobile payment service, the Entrust digital card partnership, and the acquisition of Bank of Baroda's Oman operations. The SME platform adds a business banking dimension to what has primarily been a retail-focused digital strategy.

The platform is available to existing and new BankDhofar business customers through the bank's digital channels.