Oman’s BankDhofar is the First Bank in the Middle East to Install Diebold Nixdorf’s RM4V Cash Recycling Engine to Deliver a World-Class Customer Experience

Cash recycling pilot on DN Series® ATMs and CDMs reduces cash management costs and provides additional services to customers

MUSCAT, Oman and HUDSON, Ohio, Dec. 6, 2023 /PRNewswire/ — Diebold Nixdorf (NYSE: DBD) today announced that BankDhofar is the first bank in the Middle East to utilize its RM4V cash recycling engine in its DN Series® ATMs and cash dispensing machines (CDMs). The implementation offers customers additional banking services and is managed in collaboration with CNS, Diebold Nixdorf’s partner in Oman.

 Oman's BankDhofar is the First Bank in the Middle East to Install Diebold Nixdorf's RM4V Cash Recycling Engine to Deliver a World-Class Customer Experience

This launch puts BankDhofar at the forefront of customer centricity and innovation. The DN Series Recycler ATM/CDM has the capacity to dispense 300 banknotes more than the usual 50 banknotes and complies with the Central Bank of Oman’s cash and fraud detection protocols. Cash recycling reduces cash management costs for the bank by accepting, storing and recirculating cash that’s deposited in the ATM. Creating a closed-loop recycling environment that automatically moves money through the system provides the additional advantages of extending cash-in-transit (CIT) intervals and drastically reducing CO2 emissions.

The RM4V technology optimizes the cash storage solutions within the ATM and is based on a vertical design configuration of the cassettes without compromising the small footprint of the DN series. The cash recycling engine also provides:

  • Multi-denomination capabilities
  • Larger capacity for more banknotes
  • More secure transport of banknotes
  • Flexible configuration options for dispensing, depositing and recycling

One of the most important advantages of the Recycler ATM/CDM is that it functions like a 24×7 mini cashier, which caters to the diverse needs of individual, medium and large corporate customers. Apart from NFC-enabled technology that enhances customer experience through secure and convenient contactless transactions, customers can increase their withdrawal limits via the BankDhofar mobile app, thereby gaining access to higher withdrawals.

In 2020, BankDhofar also became the first bank in Oman to install DN Series ATMs. The bank’s commitment to transformation is evident in its remarkable network expansion aimed at reaching more customers. Starting the year 2022 with 129 ATMs and CDMs, the bank will grow to more than 300 ATMs and CDMs by the end of 2023. In a strategic move towards a ‘phygital’ experience, Bank Dhofar also expanded its retail branch network from 52 (at the beginning of 2022) to 130 branches by December 2023. This makes BankDhofar the fastest-growing bank in the region with double-digit growth in both physical and digital sectors.

Amjad Iqbal Al Lawati, chief retail banking officer, at BankDhofar said: “Customer experience is at the heart of everything we do. Investing in improving technology for a key banking channel such as ATMs/CDMs will make everyday banking more convenient. We are proud to announce a significant enhancement in our operational efficiency, resulting in an even more seamless and accessible experience for our customers when conducting withdrawals. This advancement is accompanied by a heightened focus on ensuring a secure environment for all transactions. Furthermore, our dedicated team remains committed to actively engaging with customers, fostering interactions, comprehending their needs, and providing thoughtful recommendations for tailored financial solutions.”

Joe Myers, executive vice president, Global Banking at Diebold Nixdorf said: “We are excited that our long-term partner BankDhofar is the first bank in the Middle East to utilize our RM4V cash recycling engine. This technology is driving the recycling market in many countries. The high level of availability of the DN Series, along with its security and efficiency, continue to make it the best solution on the market for cash recycling.”

About BankDhofar
BankDhofar is one of the best banks in the region that is responsive to customers’ needs and requirements and sets the standard for the best customer experience in the banking industry in Oman by using the latest technologies and providing cutting-edge financial solutions. The Bank has more than 100 branches and 300 plus ATMs, CDMs, FFMs and MFKs across Oman. BankDhofar customer can conduct their banking transactions 24/7 through internet banking and the award-winning mobile banking app which offers exclusive financial services. Customers can access the financial services through a wide network of branches, ATMs, CDMs, FFMs and MFKs across the Sultanate, operating 24 hours a day and boasting a highest ATM availability of 99.4%. Website:

About Diebold Nixdorf
Diebold Nixdorf (NYSE: DBD), Incorporated automates, digitizes and transforms the way people bank and shop. As a partner to the majority of the world’s top 100 financial institutions and top 25 global retailers, our integrated solutions connect digital and physical channels conveniently, securely and efficiently for millions of consumers each day. The company has a presence in more than 100 countries with approximately 21,000 employees worldwide. Visit for more information.

X: @DieboldNixdorf


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