Oman will launch its first crowdfunding platform.
According to the CMA( Capital Market Authority), crowdfunding will be a new financing option for small and medium-sized businesses and entrepreneurs.
MUSCAT: The Capital Market Authority (CMA) announced that Oman will launch its first crowdfunding platform before the end of the year, providing a new financing option for small and medium-sized enterprises and entrepreneurs.
According to the CMA, the board of directors of the authority approved amending capital market legislation and licensing crowdfunding platforms in the Sultanate. The new regulations are getting towards the end of the plan of execution.
“The importance of accelerating the introduction of this type of financing product is to support small and medium-sized economic projects in the Sultanate, which are critical to promoting economic development and creating job opportunities,” the CMA stated in a statement.