MUSCAT – EthisX, based out of Muscat, Sultanate of Oman, and part of ethical investment and social finance platform operator Ethis Group, officially launched its first event, “Entrepreneurship Haven - From Idea to Profit through Crowdfunding” to raise awareness on crowdfunding and its importance in growing the local entrepreneurship ecosystem.
The half-day physical event was held at the College of Banking and Financial Studies, Muscat on 23 June 2022 in collaboration with the SMEs Development Authority, Al Jabr, Thawani, Baker Tilly, Oman Technology Fund, Sehatek Advanced Medical Care, Global Psytech, Future Tech Event, Gulf Investment Services and SD Centre for Entrepreneurship Excellence, U.A.E.
The event was officiated by Mr. Mohammed bin Said Al Abri, the Vice President of the Capital Market Authority, Sultanate of Oman (CMA), and had brought together major stakeholders within Oman’s entrepreneurship ecosystem including experienced local and international industry experts.
“I would like to congratulate EthisX on its official launch after it has been approved by the CMA as the first Islamic Global Crowdfunding Platform to operate in the Sultanate of Oman”, says the Vice President of the CMA, Mr. Mohammed bin Said Al Abri. “The facilitative Crowdfunding regulation framework which has been established in the Sultanate is the first of its kind in the GCC region which allows global cross-border fundraisings and investments”, he added.
He also highlighted that the Crowdfunding Platform initiative by the CMA aims to provide an alternative financing platform for companies including SMEs to raise capital directly from global and local investors.
“It also enhances financial inclusion and easier access to finance to all segments of the society and in line with the e.Oman 2030 Digital Strategy as well as Oman Vision 2040”, he explained.
EthisX is the first-of-its-kind global cross-border Ethical Private Capital Marketplace able to offer direct shariah-compliant investments into SME companies, including startups and special purpose vehicle (SPV) projects from the Sultanate of Oman and across the globe via their equity crowdfunding platform. Through EthisX, SME companies can also receive short-term financing for their businesses directly from global and local investors via their Peer-To Peer (P2P) financing crowdfunding platform.
Crowdfunding, though nascent, is gaining acceptance in the Sultanate of Oman and expects to develop even further with the support of the Capital Market Authority, who in an effort to stimulate the local market, announced early this year that companies intending to carry out crowdfunding activities will be exempted from licensing fees until 2023.
About EthisX | The cross-border Ethical Private Capital Market Platform
EthisX, regulated by the Capital Market Authority, Sultanate of Oman, is a global cross-border Ethical Private Capital Marketplace platform that focuses on sustainable and impact-driven crowd investments and financing.
Operated by Ethis Investment Platform L.L.C. which is part of the award-winning Ethis Group, the platform serves to digitally connect startups, funds, and growth companies with HNWIs, the mass and emerging affluent retail segments and corporate investors seeking to provide shariah-compliant funding.
We exist to #circulategood. Our deep desire to create a more ethical form of finance has attracted significant finance and community leaders to support our vision and mission.
For more information about EthisX, please visit https://ethisx.co/
About Ethis Group
Ethis Group operates crowd-investment platforms approved by regulators in Indonesia, Malaysia, and now the Sultanate of Oman.
The platforms serve ordinary people, high-net-worth individuals, corporate, and government entities. Ethis built its initial track record from 2016 to 2020 in social housing in Indonesia where the global community of investors from more than 50 countries funded development projects to build close to 10,000 homes.
Since the onset of COVID-19, Ethis have launched popular new investment products, including short-term, high-yield supply-chain financing projects in Indonesia and equity investment in ‘future tech’ startups in Malaysia. Its social finance marketplace GlobalSadaqah plays a vital role in matching donors and Islamic economy players to better distribute social finance and zakat to NGOs and social enterprises.
Ethis' shariah advisory, Adl Advisory, on the other hand, provides services that cover various sectors in the financial space through talks and training for their clientele. Adl services are inclusive of formulating shariah governance frameworks, marketing and promotion reviews, training, and ad hoc shariah queries.
Ethis exist to #CirculateGood. Their deep desire to create a more ethical form of finance to uplift humanity has attracted significant finance and community leaders to support its vision and mission.
For more information about Ethis Group, please visit https://ethis.co
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Chief Operating Officer
Ethis Investment Platform L.L.C.
Office 343, 2nd Floor, Office Tower 5, Panorama Mall, Muscat, Sultanate of Oman. Email: email@example.com
Afiqah Abdul Aziz
Public Relation and Marketing Executive
Ethis Global Sdn. Bhd