MUSCAT: Oman will launch its first crowdfunding platform before the end of this year which will open a new financing option for small and medium enterprises and entrepreneurs, the Capital Market Authority (CMA) announced.
CMA said the authority’s board of directors approved amending the capital market legislations and licensing crowdfunding platforms in the Sultanate. The new regulations are in their final stages of preparation.
“The importance of expediting the introduction of this type of financing product is to support small and medium economic projects in the Sultanate, which are key to promoting economic development and creating job opportunities,” CMA said in the statement.
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