Dhofar Islamic and Al Madina Takaful form strategic bancatakaful partnership in Oman
Dhofar Islamic, the Sharia-compliant window of BankDhofar, has announced a landmark strategic bancatakaful alliance with Al Madina Takaful, Oman’s leading provider of ethical and Sharia-compliant insurance solutions. The partnership marks a significant step forward in expanding integrated Islamic financial and protection offerings across the Sultanate.
Under the agreement, Dhofar Islamic will distribute Al Madina Takaful’s comprehensive portfolio of retail and SME protection products through its nationwide branch network and advanced digital channels. Customers will benefit from seamless access to Sharia-compliant coverage spanning, motor, home, medical, travel, personal accident, SME & Corporate solutions, fully embedded within the bank’s financing and service ecosystem.,
For Dhofar Islamic, the collaboration enhances its value proposition by integrating Takaful solutions alongside its financing and deposit products. This enables the bank to offer holistic financial well-being packages, allowing customers to enjoy protections. The alliance is expected to deepen customer engagement and foster long-term loyalty through a unified, end-to-end Sharia-compliant offering.
Mr. Amor Said Mohamed Al Amri, Chief Islamic Banking Officer, said: “This partnership reflects our unwavering commitment to delivering holistic Islamic financial solutions that safeguard our customers’ future while adhering to the highest standards of Sharia compliance. By integrating Takaful into our banking journey, we are creating a seamless experience that empowers customers with choice, convenience and confidence. This strategic alliance is not just about distribution—it is about shaping the future of ethical finance in Oman.”
Mr. Usama Al Barwani, Chief Executive Officer of Al Madina Takaful, added: “This collaboration establishes a powerful distribution channel by leveraging Dhofar Islamic’s expanding customer base, strong brand trust and robust digital infrastructure. Through the bank’s relationship managers and online platforms, Al Madina Takaful will be able to deliver its family, general and corporate solutions with greater reach and accessibility.”
Beyond commercial synergies, the partnership supports Oman’s broader objective of strengthening its Islamic finance ecosystem by fostering closer collaboration between banking and Takaful institutions. By combining Dhofar Islamic’s banking expertise with Al Madina Takaful’s specialized protection capabilities, the alliance aims to set new benchmarks in customer-centricity, transparency and innovation within the Sultanate’s Sharia-compliant financial services landscape.
