Dhofar Islamic, the Sharia-compliant window of BankDhofar, has announced a strategic bancatakaful partnership with Al Madina Takaful, Oman’s leading provider of ethical and Sharia-compliant insurance solutions. The partnership represents an important milestone in expanding integrated Islamic banking and protection solutions across the Sultanate of Oman.
Through this agreement, Dhofar Islamic will distribute Al Madina Takaful’s comprehensive range of retail, SME, and corporate Takaful products via its nationwide branch network and digital platforms. Customers will gain seamless access to Sharia-compliant coverage, including motor, home, medical, travel, personal accident, and SME and corporate solutions, fully integrated within the bank’s financing and service ecosystem.
The collaboration strengthens Dhofar Islamic’s value proposition by embedding Takaful solutions alongside its financing and deposit offerings. This integrated approach enables the bank to provide holistic financial well-being solutions, enhancing customer experience, deepening engagement, and fostering long-term loyalty through a unified Sharia-compliant journey.
Commenting on the partnership, Mr. Amor Said Mohamed Al Amri, Chief Islamic Banking Officer of Dhofar Islamic, said that the alliance reflects the bank’s strong commitment to delivering comprehensive Islamic financial solutions that protect customers’ futures while maintaining the highest standards of Sharia compliance. He added that integrating Takaful into the banking journey creates greater convenience, choice, and confidence for customers, while contributing to the advancement of ethical finance in Oman.
Mr. Usama Al Barwani, Chief Executive Officer of Al Madina Takaful, stated that the partnership establishes a strong distribution channel by leveraging Dhofar Islamic’s growing customer base, trusted brand, and robust digital infrastructure. He noted that the collaboration will enable Al Madina Takaful to extend its family, general, and corporate solutions to a wider audience through both relationship managers and digital platforms.
Beyond commercial benefits, the partnership supports Oman’s broader objective of strengthening its Islamic finance ecosystem. By combining Dhofar Islamic’s banking expertise with Al Madina Takaful’s specialized Takaful capabilities, the alliance aims to set new standards in customer-centricity, transparency, and innovation within the Sultanate’s Sharia-compliant financial services sector.