The Omani fintech company Mamun gets a crowdfunding license
Muscat – Mamun, a leading Omani financial technology (fintech) firm, announced that it has received a full crowdfunding license from the Capital Market Authority (CMA). Mamun has also received pre-approval for a PSP (Payment Service Provider) license from the Central Bank of Oman (CBO).
These significant regulatory milestones reinforce Mamun’s commitment to providing cutting-edge fintech infrastructure capabilities to a variety of third-party systems, the firm said.
As a fintech infrastructure-as-a-service provider, Mamun offers a proprietary technology platform that provides telecom companies, banks and large startups with the tools and capabilities necessary to roll out fintech services and products.
“We are delighted to have been granted a full crowdfunding license by the CMA and a pre-approval for the PSP license by the CBO,” said Mohammed al Tamami, co-founder and commercial director of Mamun.
He said: “These licenses from the regulators are proof of our commitment to deliver state-of-the-art fintech infrastructure and comprehensive solutions. We are excited to expand our offerings and partner with industry leaders like Fasset to shape the future of finance.”
Mamun is the first home-grown technology company of its kind to have exported its technology beyond Oman. The company’s technology is currently licensed by the likes of Foodics in Saudi Arabia, a unicorn valued at over a billion dollars.
According to Tamami, based on its success, Mamun now aims to leverage its comprehensive payment technology and crowdfunding expertise to deliver comprehensive financial, investment and payment products to businesses and investors. “By integrating these two powerful technologies, Mamun is poised to revolutionize the fintech landscape by providing seamless, end-to-end solutions,” he said.
Mamun recently announced a strategic partnership with Fasset, a recognized innovator in the fintech field. This collaboration aims to co-create advanced products that further improve Mamun’s holistic approach to fintech services. By combining their respective strengths and expertise, Mamun and Fasset strive to drive innovation, accessibility and convenience in the financial services industry.
Tamami noted that Mamun continues to pioneer the fintech space, providing businesses, investors and end users with secure, efficient and transformative financial solutions.
“With a full crowdfunding license and pre-approval for the PSP license, Mamun is well positioned to lead the industry’s digital transformation and foster a thriving fintech ecosystem in Oman,” he added.