Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Meta Materials and Panasonic Industry Collaborate on Next Generation Transparent Conductive Materials

    September 29, 2023

    Maritime’s green future priced at $28 billion annually until 2050 by UNCTAD

    September 29, 2023

    U.S. Polo Assn. Launches Global Fall-Winter 2023 Collection

    September 26, 2023
    Facebook X (Twitter) Instagram
    Zambia LiveZambia Live
    • Automotive
    • Business
    • Entertainment
    • Health
    • Lifestyle
    • Luxury
    • News
    • Sports
    • Technology
    • Travel
    Zambia LiveZambia Live
    Home » First Islamic global crowdfunding platform to operate in Oman
    Business

    First Islamic global crowdfunding platform to operate in Oman

    March 4, 2022
    Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp VKontakte Email

    Chairman of the Capital Market Authority (CMA), Shaikh Abdullah Salem al Salmi, approved on Thursday the licensing of the first crowdfunding platform operator in the Sultanate of Oman, Ethis Investment Platform LLC. It is the first Islamic global crowdfunding platform to operate in Oman.

    First Islamic global crowdfunding platform to operate in OmanA nod from the Authority is the first since the new Crowdfunding Platform Rules were issued on November 21, 2021. CMA has attracted overwhelming interest from international as well as local crowdfunding fintech players since it has been made very facilitative and allows cross-border investing. As part of the new regulation, the CMA will be regulating all crowdfunding activities for companies in Oman, including donation-based, rewards-based, equity-based, and peer-to-peer (P2P) financing.

    Crowdfunding platform initiative by the CMA seeks to provide an alternative financing platform for companies, including small and medium-sized enterprises (SMEs), to raise funding directly from investors without going through financial institutions, while enhancing financial inclusion by facilitating financial access.

    As a result, it is in line with Oman’s Vision 2040, enabling the development of the economy and attracting foreign investors into the Sultanate of Oman. Fintech is driving crowdfunding, which includes the use of blockchain technology, which is a major milestone for Oman’s Central Market Authority in developing capital markets and fintech.

    Moreover, it is a milestone in the development of Islamic finance in the Sultanate of Oman – since a key component of Shariah-based financing is to promote financial inclusion. Ethis Global Group will operate the crowdfunding platform through Ethis Investment Platform LLC in Oman, which will offer both equity and P2P financing.

    Ethis Group is a licensed equity crowdfunding platform in Malaysia and a licensed P2P financing crowdfunding platform in Indonesia. Both are regulated by their respective securities regulators. They also have a donation-based global crowdfunding platform. The CMA also expects a few more crowdfunding platforms, both conventional and Islamic, to be established and licensed in Oman in the near future.

    Share. Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email

    Related Posts

    Maritime’s green future priced at $28 billion annually until 2050 by UNCTAD

    September 29, 2023

    From India to Brazil, leadership transition marks G20 Summit’s conclusion

    September 11, 2023

    African Union Inducted into G20 on India’s Initiative

    September 9, 2023

    Biden and Modi cement ties as India ascends global stage

    September 9, 2023
    Breaking News

    Maritime’s green future priced at $28 billion annually until 2050 by UNCTAD

    September 29, 2023

    World Tourism Day 2023 calls for sustainable growth in tourism

    September 26, 2023

    UAE and India discuss strategic ties at UNGA78 in New York

    September 26, 2023

    Leaders of UAE and Netherlands convene to reinforce mutual cooperation

    September 26, 2023

    From India to Brazil, leadership transition marks G20 Summit’s conclusion

    September 11, 2023

    African Union Inducted into G20 on India’s Initiative

    September 9, 2023

    Biden and Modi cement ties as India ascends global stage

    September 9, 2023

    UN calls for greater female representation in police forces worldwide

    September 8, 2023
    © 2021 Zambia Live | All Rights Reserved
    • Home
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.