Non profit organisations of societies are not allowed to go for crowd funding as per the law, and only selected categories can seek funds on crowd funding platforms, according to.
In the implementation of the Oman Vision 2040 and in response to the requirements of the capital market participants and entrepreneurs, the Executive President of the Capital Market Authority, His Excellency Abdullah Salim al Salmi, announced that the new Rules for Crowdfunding Platforms is ready and operational for those who wish to practice the business in.
Landmark gesture: The move is aimed at stimulating the economic recovery, spurring various types of crowdfunding platforms, attracting local and foreign investors, supporting SMEs and entrepreneurs, and enhancing GDP growthBUSINESS REPORTERMUSCAT, NOV 22New rules governing the operation of crowdfunding platforms in the Sultanate of Oman are now in force,.
Crowdfunding platforms will shortly become a reality in the Sultanate of Oman with the Capital Market Authority (CMA) preparing to roll out legislation that aims to, among other things, position the Sultanate of Oman as a leading player in the crowdfunding space in the region.According to a high-level official, new legislation regulating crowdfunding.