MUSCAT — BankDhofar has appointed Deloitte & Touche for a market assessment and feasibility study into the launching of an Islamic Window at the Bank. This study is in response to the Royal Decree issued last year by His Majesty Sultan Qaboos, which approves the establishment of Islamic Banking in the Sultanate.
BankDhofar is dedicated to the implementation of Islamic financial services and has already invested in some training programmes for its executives providing them with insights into planning and executing Islamic banking products and services. It has also appointed a new Head of Islamic Banking, to prepare the Bank to handle this new service through dedicated Islamic windows.
Mohamed Redha Jawad (pictured) — General Manager, Wholesale Banking, said: “At BankDhofar we are planning to offer our customers Sharia-compliant products and services through dedicated service channels. The feasibility studies which we have commissioned Deloitte & Touche to work with us on will enable us to offer our customers the best services possible and to ensure that we are abreast of all new regulations and standards for Islamic financial services.”