Mamun Launches "Trade Now, Pay Later" Solution to Empower Merchants and Trading Businesses

Muscat, Oman – October 23, 2024 – Mamun, Oman’s leading Sharia-compliant P2P financing platform, is excited to announce the launch of its latest financing solution, "Trade Now, Pay Later." This innovative service is designed to empower merchants, trading companies, and SMEs by providing flexible payment terms for purchasing inventory, enabling them to scale operations without cash flow constraints.

With "Trade Now, Pay Later," businesses can purchase products and inventory today and defer payment, giving them the agility to meet customer demands while managing their cash flow effectively. The solution supports trading businesses across various sectors, including wholesale, retail, and e-commerce, making it easier to secure the goods they need for growth.

Empowering Business Growth Amid Regional Trade Expansion Oman has been experiencing significant trade growth, establishing itself as a vital trading and export hub in the region. The country’s strategic geographic position, bordering key trading partners such as the UAE, Saudi Arabia, and Iran, has driven a steady rise in trade volumes. In 2023, Oman's total non-oil trade surpassed 9 billion OMR, with a significant portion attributed to exports and re-exports to neighboring countries.

The "Trade Now, Pay Later" solution from Mamun addresses the growing demand for flexible financing solutions that accommodate the dynamic needs of businesses operating in this rapidly expanding market. As Oman continues to solidify its position as a gateway for regional trade, Mamun's new offering ensures that merchants and trading companies can maintain inventory levels, fulfill orders on time, and operate seamlessly without tying up capital.

"We are thrilled to bring the 'Trade Now, Pay Later' solution to market," said Saleh Al Tamami, Co-Founder & CEO of Mamun. "This launch aligns with our mission to provide flexible, Sharia-compliant financing solutions that cater to the unique needs of Oman's business community. By enabling merchants to trade now and pay later, we are helping businesses unlock new growth avenues and operate with greater financial flexibility."

How It Works The "Trade Now, Pay Later" solution allows businesses to purchase inventory through Mamun’s platform and defer payment for a specified period, with flexible terms tailored to each company’s financial needs. As part of Mamun's financing process, merchants can easily apply for payment extensions, access competitive rates, and enjoy seamless approval processes designed to meet their operational timelines.

Oman's Growing Role as a Trading Hub Oman's strategic location along the Arabian Peninsula makes it an ideal conduit for trade between the Gulf, East Africa, and South Asia. Recent infrastructure developments, such as the expansion of ports in Sohar, Duqm, and Salalah, have bolstered the country’s capabilities as a re-export hub, further driving trade growth. According to government data, Oman's re-export activities grew by 15% last year, underscoring the increasing demand for inventory financing and trade facilitation services.

Mamun’s "Trade Now, Pay Later" solution is tailored to support businesses capitalizing on this growth, especially trading companies facing cash flow challenges due to delayed customer payments or large purchase orders. The flexibility to defer payments not only stabilizes cash flow but also allows companies to maintain competitive pricing, increase inventory levels, and take on more significant projects.

"We designed 'Trade Now, Pay Later' with the modern merchant in mind," added Mohammed Al Tamami, Chief Commercial Officer of Mamun. "Trading companies and SMEs often need to balance between meeting customer demands and managing capital constraints. With this solution, we are providing a practical way to manage those challenges, ensuring businesses can operate smoothly and scale efficiently."

Aligning with Oman Vision 2040 The launch of "Trade Now, Pay Later" is part of Mamun’s broader strategy to support Oman’s Vision 2040, which emphasizes the growth of the private sector and alternative financing models to stimulate economic development. Mamun’s flexible, Sharia-compliant financing solutions are tailored to the needs of the evolving business landscape, positioning the company as a key player in the region's financial innovation space.