Muscat: As the school season is approaching; Dhofar Islamic continues to offer innovative banking solutions that meet the various financial requirements of customers throughout the year, with the Minor Savings Account, a Sharia compliant account based on Mudarabah Structure. The account is designed to empower young individuals and instill positive financial habits from a young age.

The Minor Savings Account offers a comprehensive range of features that provide a strong foundation for a secure financial future. It brings to fore Dhofar Islamic’s commitment to financial literacy, demonstrating that the account isn’t just about deposits and withdrawals.

The Minor Savings Account is specially crafted to cater to the unique needs of minors aged between 13 and 18 years, providing them with a safe and accessible platform to manage their funds while learning the essential principles of money management. With no minimum balance requirement, profit payment with expected rates based on monthly average balance, flexibility in changing withdrawal limits as per the request of the father/ guardian, young account holders enjoy the benefits of an innovative product whilst being assured of monthly financial assistance through social protection program.

The Minor Savings Account can be opened by the minor’s father/ guardian with a copy of a passport or national ID, birth certificate, and proof of address (electricity/ water bill). The father/ legal guardian will also have to provide ID (if Omani). Expatriates will have to provide copies of the Resident Card and the passport visa page.

On the other hand, Dhofar Islamic enables customers to open a new Minor Account at their convenience in a few minutes, with easy steps through its Mobile Banking Application. Customers may download Dhofar Islamic’s Mobile Banking App, which is available for IOS, Android and Huawei – App Gallery mobiles or smart devices, and follow the steps. In addition to the account opening, users may follow-up on the status of their application through Dhofar Islamic’s mobile App. This option is available for all Omani and non-Omani residents of the Sultanate of Oman. 

Dhofar Islamic – BankDhofar’s Islamic Banking window, offers a wide range of Shari’a compliant financial solutions 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.

To learn more, visit the nearest Dhofar Islamic branch, check out the official page https://www.dhofarislamicbank.com/accounts/minor-account/ or call 24775777 for further inquiries.