Dhofar Islamic's High Yield Account: A Smart Way to Grow Savings
Dhofar Islamic, the Sharia-compliant window of BankDhofar, is highlighting the enhanced features of its High Yield Account, which is designed to help customers accelerate the growth of their savings through attractive profit rates.
The bank is inviting customers to take full advantage of its High Yield Account - a flexible and rewarding savings solution – that is structured to help individuals grow their funds through competitive profit rates based on the Islamic principle of ‘Mudarabah’.
This account offers a swift and straightforward access via any Dhofar Islamic branch or its state of the art mobile application. Existing and new account holders benefit from instant debit card issuance and monthly profit payments. The actual profit is calculated and distributed on a monthly basis, giving customers a clear and consistent view of their savings growth.
Dhofar Islamic also ensures round-the-clock access to services, including local and international transfers, standing instructions, payment orders and deposit offerings through its comprehensive mobile and internet banking platforms.
In a High Yield Account, the higher your average monthly balance, the higher your returns. It is a smart way for customers to grow their savings in a manner that’s fully aligned with Shari’a principles. It combines the convenience of modern banking with a profit-sharing model that rewards disciplined saving.
Based on the Islamic concept of ‘Mudarabah’, the account operates under a partnership model where customers provide their funds for the bank's Sharia-compliant business activities and, in return, receive a share of the generated profits. A key feature of this account is its tiered profit structure, rewarding customers with progressively higher returns as their average monthly balance increases.
The High Yield Account is available to Omani nationals and resident expatriates aged 18 and above, including salaried and self-employed individuals, as well as minors. Dhofar Islamic encourages both existing and potential customers to explore the benefits of this account and experience a smarter way to grow their wealth.
Dhofar Islamic offers a wide range of Shari’a compliant financial solutions, products and services that cater to the needs of its retail and corporate customers, which is continuously being positively reflected in the responses of our valued customers.
