BUSINESS REPORTER -
MUSCAT, Dec 27 -
International Distribution Network SPC, the distribution arm of Sainsbury’s — one of the UK’s largest food retailers — has selected National Bank of Oman (NBO) as its onshore banking partner as it prepares to establish a new operations hub in Sohar Port. The Oman will support the distribution of over 12,000 FMCG products in the Middle East and Africa region.
Asif Redha, Head of Global Transaction Banking at NBO, said, “We are glad to offer our services to International Distribution Network SPC Oman and looking forward to strengthening our mutual collaboration over the coming years. NBO is always at the forefront of providing innovative technological solutions to international and local businesses.”
Shahid Rafique K, Director Sales & Operations at International Distribution Network SPC, added, “We are delighted to have chosen NBO as our onshore banking partner and are confident that the collaboration will help us to capitalise on the geographical advantages that Oman offers, as well as its rapidly developing transport and logistics infrastructure, as we seek to grow our presence in the wider region.”
Sainsbury’s, a multi-brand, multi-channel retailer, has over 1,400 stores throughout the UK.
Through the operations hub of International Distribution Network SPC set up recently in Sohar, Sainsbury’s now has access to potential markets encompassing the Middle East and Africa, which is home to nearly 1.4 billion people.
From this hub, International Distribution Network SPC plans to supply and reach Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Bahrain, Jordan, Egypt and Pakistan, besides Oman.
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