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 diverse range of third-party systems, the firm said.

As a fintech infrastructure-as-a-service provider, Mamun offers a proprietary technology platform that empowers telecom companies, banks, and large startups with the tools and capabilities necessary to roll out fintech services and products.

“We are thrilled to have been granted the full crowdfunding license by the CMA and a pre-approval for the PSP license by the CBO,” said Mohammed al Tamami, co-founder and chief commercial officer of Mamun.

He said, “These licenses from the regulators are a testament to our commitment to delivering 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-of-its-kind home-grown tech company that has 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, building on its success, Mamun now aims to leverage its comprehensive payment technology and crowdfunding expertise to deliver holistic financial, investing, and payment products to businesses and investors. “By integrating these two powerful technologies, Mamun is poised to revolutionise the fintech landscape by offering seamless, end-to-end solutions,” he said.

Mamun recently announced a strategic partnership with Fasset, a renowned innovator in the fintech field. This collaboration aims to co-create advanced products that further enhance 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 industry.

Tamami noted that Mamun continues to pioneer advancements in the fintech space, empowering businesses, investors, and end-users with secure, efficient, and transformative financial solutions.

“With the 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.

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