CMA takes part in workshop on 'Regulatory Frameworks of Crowdfunding Platforms'

Business Saturday 05/March/2022 15:57 PM
By: Times News Service
CMA takes part in workshop on 'Regulatory Frameworks of Crowdfunding Platforms'

Muscat: The Capital Market Authority (CMA) participated in a workshop titled 'Regulatory Frameworks of Crowdfunding Platforms, Regional and International Experiences' organised by the Arab Monetary Fund on March 2 and 3.

The workshop aimed to highlight the realities and prospects of crowdfunding platforms in the Arab World and to exchange expertise related to the regulatory frameworks of crowdfunding platform based on best regional and global practices through working papers presented by specialists and researchers from the member counties.

CMA participated by working papers on its crowdfunding platforms experience presented by Musab Mohammed Al Lawati, Director of Supervision and Compliance who supervised the regulation of the crowdfunding platforms activity. The paper contained a detailed account of the types of crowdfunding platforms in the Sultanate of Oman, the categories of investors, the general features of the regulation for crowdfunding platforms and the obligations of applicants for financing.

Crowdfunding is a window for entrepreneurs and innovators for financing from donors or investors to support their projects through an electronic platform that enables small and medium enterprises to obtain financing. CMA has issued the Regulation for Crowdfunding vide Decision No. 153/2021 dated November 21, 2021.