Muscat: The Central Financial institution of Oman and Omantel, the main supplier of built-in telecommunication companies within the Sultanate of Oman, have joined fingers to ship a six-month accelerator programme devoted to nurturing and empowering fintech start-ups.
The accelerator programme seeks to help revolutionary fintech start-ups by the challenges of the extremely aggressive fintech trade by mentorship, coaching, networking, and fundraising help.
The programme targets promising, high-potential native start-ups with fintech options in debt-based crowdfunding, purchase now pay later, microfinancing and ROSCA system, a rotating financial savings and affiliation system.
The 5 start-ups chosen for the accelerator are Al-Jumaeiah, an utility that helps create, handle and organise completely different jamaeiahs (teams) on a single platform; Hal Capital, a Sharia-compliant embedded fintech providing various financing services and products to SMEs and people; TasHeel Monetary Options that gives monetary ease to shoppers by a Purchase Now Pay Later answer; Wadiaa, an equity-based crowdfunding and peer-to-peer lending answer for start-ups and SMEs; and Zumr Fintech which offers micro-financing alternatives by encouraging the behavior of saving.
His Highness SayyidaGhada Al Stated, Senior Supervisor, Omantel Innovation Labs, mentioned “It has been a pleasure to work with the Central Financial institution of Oman to create a useful fintech programme for the native start-up ecosystem that mixes the experience of Omantel and the Central Financial institution of Oman. The partnership leverages our shared imaginative and prescient and strengths to contribute to the expansion of fintech start-ups within the nation and we look ahead to doing our half in accelerating these promising start-ups.”
Ghada Al Kharusi, Performing Supervisor on the Innovation Division, Central Financial institution of Oman, mentioned, “Fintech is important to the way forward for the Sultanate of Oman’s monetary sector, and we’re dedicated to supporting fintech start-ups within the nation. We’re delighted to be working with Omantel on this program that we consider might be a catalyst for accelerating fintech start-ups in Oman.”
Along with receiving free desk house on the Omantel Innovation Labs, a 1,100 sqm facility within the coronary heart of the Omantel headquarters at Madinat Al Irfan, chosen start-ups can even achieve entry to a community of over 100,000 traders, corporates and mentors and might be eligible for perks price over $250,000 in cloud computing, authorized companies, accounting and different areas.
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