UK-based retail giant Sainsbury’s is preparing to establish a new operations hub in Sohar Port, Oman to launch more than 12,000 products in the Middle East and Africa region.
National Bank of Oman (NBO) said it has been selected as the onshore banking partner for International Distribution Network, the distribution arm of Sainsbury’s.
Sainsbury’s, a multi-brand, multi-channel retailer, has over 1,400 stores throughout the UK.
Through the operations hub of International Distribution Network 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 plans to supply Saudi Arabia, the UAE, Qatar, Kuwait, Bahrain, Jordan, Egypt and Pakistan, as well as Oman.
Asif Redha, head of Global Transaction Banking at NBO, said: “We are glad to offer our services to International Distribution Network 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, 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.”
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