Mamun, Oman’s leading P2P financing platform, was recognised as the Best Islamic Finance and Investment Startup at the inaugural Themar Islamic Banking Conference and Excellence Awards 2024. The award was presented by H.E. Abdulsalam Al Murshidi, President of the Oman Investment Authority (OIA), whose commitment to nurturing Oman’s startup ecosystem has significantly advanced the growth of innovative ventures across the country.
The Themar Islamic Banking Conference, held at the Intercity Hotel in Muscat, gathered key players in the Islamic finance sector to discuss pivotal topics such as economic stability, regulatory frameworks, and the impact of digital transformation on financial transactions. The event, supported by leading institutions such as the Financial Services Authority and Muscat Stock Exchange, culminated in an award ceremony recognizing excellence across various categories in Islamic finance.
Mamun’s recognition comes as a testament to its pioneering approach to Islamic P2P financing in Oman. Since its launch in October 2023, Mamun has facilitated over 1.4 million OMR (approximately 3.64 million USD) in Sharia-compliant supply chain financing, attracting over 4,000 investors from more than seven countries. Mamun has demonstrated double-digit month-on-month growth in financing volume and investor base, reflecting the growing trust and adoption of its innovative solutions. By leveraging cutting-edge technology and robust risk management models, Mamun has emerged as a leader in delivering fast, accessible, and ethical financial solutions to businesses of all sizes.
Mamun is poised to become a global leader in Islamic P2P financing, with ambitious plans to introduce a myriad of instruments and solutions that address the evolving needs of businesses and investors alike. The company’s embedded finance technology, already being used by the likes of Oman Housing Bank and other notable institutions, continues to demonstrate its versatility and potential for driving innovation in financial services.
This prestigious accolade adds to Mamun’s growing list of achievements, including its recognition by Deloitte as one of MENA’s Rising Star 50 startups—a clear endorsement of the platform’s impact and scalability. With zero non-performing loans (NPLs) to date and consistent growth, Mamun continues to set new benchmarks for alternative finance in Oman and beyond.
“We are incredibly honored to receive this recognition from H.E. Abdulsalam Al Murshidi, who has been a cornerstone of support for startups in Oman,” said Saleh Al Tamami, Co-Founder & CEO of Mamun. “This award highlights not only our commitment to innovation and ethical finance but also the potential of Islamic P2P financing as a vehicle for economic empowerment.”
The Themar Islamic Banking Conference and Excellence Awards, established by TAS, is poised to become a major annual event, celebrating the success stories that are shaping the future of Islamic finance in Oman. Mamun is proud to be at the forefront of this journey, aligning closely with Oman’s Vision 2040 for sustainable and diversified economic growth.
