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Wednesday, June 12, 2024

Mamun Secures Full Crowdfunding and PSP Licenses, Paving the Way for Fintech Innovation in Oman


Mamun, a Omani financial technology (fintech) firm, has announced the acquisition of a comprehensive crowdfunding license from the Capital Market Authority (CMA). Adding to this remarkable achievement, Mamun has also received preliminary approval for a coveted Payment Service Provider (PSP) license from the Central Bank of Oman (CBO).

These regulatory milestones mark a significant stride for Mamun, reaffirming its unwavering commitment to furnishing state-of-the-art fintech infrastructure capabilities to a diverse spectrum of third-party systems. The fintech leader avowed that these accomplishments underpin its dedication to innovation and growth within the fintech landscape.

Positioning itself as a preeminent provider of fintech infrastructure-as-a-service, Mamun empowers telecom giants, financial institutions, and burgeoning startups with a proprietary technology platform. This platform equips them with the essential tools and resources to seamlessly launch and manage an array of fintech services and products.

Expressing his enthusiasm, Mohammed al Tamami, Mamun’s co-founder and chief commercial officer, exclaimed, “We are elated to have received the CMA’s full crowdfunding license and a pre-approval for the PSP license from the CBO. These licenses underscore our commitment to delivering cutting-edge fintech solutions. We eagerly anticipate broadening our offerings and forging partnerships with industry titans like Fasset to shape the future of finance.”

Mamun proudly stands as the first Omani tech firm to export its groundbreaking technology beyond national borders. Currently, Mamun’s technology enjoys licensure with Saudi Arabia’s Foodics, a unicorn in the industry valued at over a billion dollars.

In line with its successful trajectory, Mamun aims to capitalize on its robust payment technology and crowdfunding expertise. The goal is to deliver holistic financial, investment, and payment products to an array of enterprises and investors. Al Tamami emphasized, “By synergizing these two potent technologies, Mamun is poised to revolutionize fintech by offering seamless, end-to-end solutions.”

A recent strategic alliance between Mamun and Fasset, a renowned fintech innovator, was also unveiled. This collaboration seeks to co-create advanced products that further amplify Mamun’s comprehensive approach to fintech services. By amalgamating their distinct strengths and expertise, Mamun and Fasset endeavor to stimulate innovation, accessibility, and convenience within the financial sector.

Highlighting Mamun’s pioneering role in fintech advancements, Al Tamami remarked that the firm continues to empower businesses, investors, and end-users with secure, efficient, and transformative financial solutions. He asserted, “With the full crowdfunding license and pre-approval for the PSP license, Mamun is primed to lead the industry’s digital transformation and cultivate a thriving fintech ecosystem in Oman.”

As Mamun forges ahead, armed with its regulatory endorsements and industry partnerships, it emerges as a torchbearer in the burgeoning domain of fintech, promising a future where innovation and financial inclusivity converge for the benefit of Oman and beyond.

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