Wednesday 07 / May / 2025
Muscat: Nine companies were licensed to carry out crowdfunding activity in Oman, according to the latest statistics by the Capital Market Authority (CMA) on the crowdfunding platforms.
The companies were Ethis Investment Platform, Beehive Financial Technology, New Sphere, Ithbar, Alwadiaa for Commercial Operations, Rawafid Finance, Smart Group for Finance, Mamun Financial Technologies and Sharek Investment.
Meanwhile, 21 companies received financing since their establishment; as the total financing volume is nearly OMR2 million (OMR1,804,169) which was provided by Ethis Investment Platform and Beehive Financial Technology at the end of 2022.
Through launching crowdfunding platforms, the CMA aims to expand the financing options in the market, facilitating access to financing and finding alternatives that cope with the technological revolution in the global capital markets.
The crowdfunding platforms are considered a breakthrough in the sector since they are dependent on one of the innovative financing types and they provide four financing options: donations, products, equity or investment note.
It is worth mentioning that in 2022, the CMA launched the mechanism for financing initiatives and projects through crowdfunding platforms which, in their turn, enabled project owners to present their projects through such platforms to get the required financing.
This translates to the CMA’s plan to enhance the role of the capital market as an instrument for financing projects in all their volumes and types. Additionally, such platforms will enable small and medium enterprises (SMEs) in particular and other projects, in general, to get their required financing from a wide base of national and foreign investors. Finally, crowdfunding platforms play a key role in driving economic development and injecting liquidity into the market; in line with the Oman Vision 2040.
