Oman-based fintech Mamun is expanding its operations in Hong Kong to build stronger trade finance links between the Gulf region and Asia.
The company seeks to strengthen cross-border trade finance between the Gulf Cooperation Council (GCC) and China’s Greater Bay Area, according to a report by Arab Founders.
The expansion follows the company’s entry into the Hong Kong market earlier this year with support from InvestHK.
Mamun executives recently met with InvestHK representatives, including Global Head of Financial Services King Leung and Senior Vice President of Fintech Peggy Kwok, to discuss new trade finance partnerships.
Two-way financing corridor
The company is developing a two-way financing corridor rather than focusing solely on funding Gulf imports from Asia.
This structure allows GCC buyers to source products from Hong Kong while enabling Hong Kong businesses and financial institutions to participate in Gulf trade opportunities.
Hong Kong has emerged as a central hub for the company’s operating infrastructure. Hong Kong-based financial institutions and businesses currently handle approximately 40% of Mamun’s trade finance settlements.
Mamun executes these settlements through Murabaha contracts for its GCC customers. The company expects this share to grow as it builds commercial relationships across the region.
The expansion comes as more Gulf financial institutions look to Hong Kong as a gateway for financing trade with Asia.
Mamun combines regulated digital infrastructure with Islamic finance principles to simplify working capital access for businesses operating across these markets.
Featured image credit: Edited by Fintech News Hong Kong, based on image by Mamun via Linkedin
