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CMA of Oman approves first Islamic global crowdfunding platform after rules change

The Sultanate of Oman's Capital Market Authority (CMA), led by Executive President His Excellency Abdullah Salem Al Salmi, granted the licence of the first worldwide crowdfunding platform operator, Ethis Investment Platform L.L.C., to be created in the Sultanate of Oman on March 3, 2022. In addition, it is Oman's first Islamic worldwide crowdfunding site.

The CMA will regulate all crowdfunding operations for enterprises in Oman, including donation-based, rewards-based, equity-based, and peer-to-peer (P2P) financing, under the new regulation. The CMA's crowdfunding platform aims to provide an alternative financing platform for businesses, including small and medium-sized enterprises (SMEs), to raise funds directly from global and local investors without going through a financial institution intermediary, while also increasing financial inclusion by making financial access more accessible to all segments of society. It also aligns with Oman's Vision 2040 as a means of developing and diversifying the economy, as well as attracting foreign investors to the Sultanate.

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