Bank Nizwa supports the growth of Oman’s logistics and transportation industry

In support of Oman’s economic diversification plans, Bank Nizwa sponsored the South Al Batinah Logistics Hub Forum, which was held to showcase potential of the Sultanate’s burgeoning logistics and transportation industry. Organized by the local community of Wadi Al Maawel and in collaboration with the Supreme Council for Planning and under the patronage of HE Khalid bin Hilal Al Mawali, Majlis Al Shoura Chairman, the event highlighted the new integrated logistics facility in Barka, detailed its developmental phases and unveiled investment opportunities. The event also saw the attendance of HE Eng. Ahmed bin Hassan Al-Dheeb, Undersecretary of Ministry of Commerce and Industry, HE Talal bin Sulaiman Al Rahbi, Deputy Secretary-General of the Supreme Council and Eng.  Ahmed bin Said al Azkawi, Acting CEO of the Logistics Hub                                                                              

During the event, Bank Nizwa introduced a range of Shari’a-compliant financing packages available to potential investors in the project. Dr. Ashraf Al Nabhani, General Manager Corporate Support, said, “Since the introduction of Islamic Finance in Oman, Bank Nizwa has been experiencing increased local, regional and global interest in leveraging the available liquidity pool of Shari’a-compliant funds. Therefore, it is important for us to support such events to showcase the benefits associated with our innovative and tailored solutions, while further cementing Bank Nizwa’s role as the bench mark of Islamic banking excellence.”

The development of the South Al Batinah Logistics Hub falls in line with Vision 2040, which aims to capitalize on Oman’s strategic location connecting East and West. Adopted in 2015, the Sultanate’s blueprint for the logistics and transportation industry aims to add 300,000 jobs and contribute $36.8 billion USD to the economy within 25 years.

Committed to contributing to Oman’s diversification strategy, Bank Nizwa has been offering innovative financing products and services to key sectors including real estate, mining, oil & gas and with this latest partnership, it has opened the door to more opportunities in the logistics and transportation sector.