Arabian Post Staff -Dubai DP World has transported more than one million container units across the UAE by road and rail since March, while bringing forward the opening of two Fujairah terminals as disruption in the Strait of Hormuz continues to divert shipping. The Dubai-based ports operator said the cargo moved from east coast gateways to Jebel Ali and domestic markets between the first week of March […]
Arabian Post Staff -Dubai Iran’s Revolutionary Guards said on Thursday that two supertankers carrying more than four million barrels of oil had been engulfed in flames following explosions in the Strait of Hormuz, raising fresh concerns about shipping safety along the strategic waterway. The Islamic Revolutionary Guard Corps (IRGC) Navy said the vessels were immobilised after entering a southern passage that Iranian authorities consider unauthorised. Its statement […]
Nvidia’s board is considering removing chief executive Jensen Huang following allegations of a second extramarital relationship and questions surrounding his contact with a woman suspected by US intelligence officials of links to Chinese espionage. Directors were expected to meet late Wednesday to consider the future of the 63-year-old co-founder, although no dismissal had been publicly confirmed. The possible leadership change comes days after the board expressed confidence […]
ADNOC Logistics & Services has confirmed that one of its vessels was damaged in an attack in UAE territorial waters on Tuesday afternoon, with emergency response operations continuing. The Abu Dhabi-based maritime company said the incident occurred on November 10 in the Arabian Gulf. It did not identify the vessel, specify its location within UAE waters or disclose the extent of the damage. The company also gave […]
Russia-linked cyberespionage group Turla infiltrated government email servers in Romania and Kazakhstan using previously undocumented malware capable of intercepting selected correspondence, including messages involving NATO and European Union institutions, cybersecurity company ESET disclosed on Tuesday. The toolset, named Cereal, operates inside Microsoft Exchange servers and allows attackers to collect emails without disrupting their delivery. ESET attributed the operation to Turla with high confidence in research published on […]
Arabian Post Staff -Dubai Gulf Cooperation Council defence ministers gathered in Bahrain on Tuesday to discuss collective military preparedness amid the continuing conflict involving Iran, although a reported decision to establish a new military command headquarters in Kuwait remained unconfirmed. The meeting brought together representatives of the six GCC states as regional governments sought closer military coordination following months of missile and drone attacks, disruptions to maritime […]
Heavy rainfall could affect parts of the UAE on Wednesday and Thursday as strengthening winds, thunderstorms and rough seas accompany a developing weather system, the National Centre of Meteorology has forecast. The most unsettled conditions are expected on November 11 and 12, with intermittent showers potentially becoming heavy in some locations. Northern and mountainous districts face the greatest likelihood of intense rainfall, while Abu Dhabi, Dubai and […]
Arabian Post Staff -Dubai The number of loaded liquefied natural gas tankers leaving the Strait of Hormuz climbed to its highest monthly level since the outbreak of the US-Iran conflict, with 31 vessels recorded in October, shipping data showed. S&P Global Energy counted 23 tankers carrying cargoes loaded at Qatar’s Ras Laffan export complex and eight from Das Island in the United Arab Emirates. The figures mark […]
The UAE’s non-oil foreign trade rose 10.1% to AED 2.945 trillion in the first nine months of 2026, propelled by record exports and bringing the total close to AED 3 trillion for the first time. The official trade figures, published on Sunday, showed non-oil exports increasing 21.6% to AED 705.8 billion, while imports climbed 11.5% to AED 1.661 trillion. Re-exports amounted to AED 578 billion, reflecting the […]
Arabian Post Staff -Dubai Gulf Cooperation Council states signed an agreement in Bahrain on Sunday to coordinate construction and operation of their regional railway network, which is 55.92 per cent complete and targeted to become fully operational by December 2030. The agreement establishes common obligations for the six member countries and sets out arrangements for integrating national railway systems into a cross-border network carrying passengers and freight. […]
The UAE is expected to generate more solar electricity per person than any other country by 2031, as renewable power development accelerates across the Middle East, the International Energy Agency has forecast. The Paris-based agency projects UAE solar generation exceeding 4,000 kilowatt-hours per capita in 2031, placing it ahead of Australia and Oman. Its Renewables 2026 report, published on Friday, also anticipates a sharp expansion of renewable […]
Arabian Post Staff -Dubai The UAE Coast Guard rescued 22 crew members from a burning cargo ship in the Gulf of Oman, authorities announced on Sunday, as maritime security concerns intensified amid the conflict involving Iran. The National Guard said all those rescued were Arab nationals and were in stable condition after receiving first aid. Specialised response teams located the vessel and evacuated its crew following a […]
Arabian Post Staff -Dubai Abu Dhabi’s Ta’ziz has completed $1.39 billion (Dh5.1 billion) in financing for a chemicals terminal and an ammonia plant in Ruwais, with both transactions attracting commitments above the amounts sought. The company announced the financial close on Wednesday at the Adipec 2026 energy exhibition. More than $928 million was arranged for the Ta’ziz Terminal project, including $225 million in Islamic financing, while the […]
Democrats have regained control of the United States Senate after victories across Republican-held states in Tuesday’s midterm elections, delivering a major setback to President Donald Trump and threatening his party’s hold on the House of Representatives. The November 3 vote overturned expectations that Republicans would retain the Senate, with Democratic candidates winning seats in Texas, Kansas, South Carolina, North Carolina and Ohio. The party also made gains […]
MUSCAT, ABU DHABI/HONG KONG SAR – Media OutReach Newswire – 4 November 2026 – mamun, the Sharia-compliant platform building capital infrastructure for trade finance, has raised a US$3 million seed round led by Phaze Ventures through its Oman Fund, with participation from Jasoor Ventures.
An exporter in Muscat ships today and gets paid in 60 to 90 days. Banks rarely bridge that gap, as they usually rely on a long financial track record that many small exporters find hard to provide. The Asian Development Bank puts the global trade finance gap at US$2.5 trillion, and 41% of SME trade finance applications are turned down.
mamun’s AI-native underwriting assesses the company behind the trade, alongside the shipment itself: the contract, the buyer, the trade documents and the trading history between them. Its origination engine finds and screens that trade as it forms. Then investors on the platform finance the gap.
The hard part is the border. A cross-border transaction spans two regulators, two banking systems and two legal regimes, with settlement that has to land in another jurisdiction on time, and the collateral is in motion, travelling with the goods along the route.
That complexity is why most of the region’s financing platforms have stayed domestic, and it is mamun’s moat. The platform was built across the corridor: an FSA-regulated home and origination base in Muscat; Abu Dhabi for Gulf capital and UAE flows; and Hong Kong SAR, the financing gateway of the Belt and Road Initiative, for the Greater Bay Area and the Gulf–Asia trade routes.
Roughly 40% of the platform’s trade finance settlements already clear through Hong Kong-based financial institutions and businesses.
mamun’s licence sits within the FSA’s crowdfunding framework, which allows the platform to bring in investors from inside and outside the Sultanate, and to finance companies inside and outside the Sultanate, subject to the platform’s eligibility criteria and the laws applicable in each investor’s country.
The corridor is growing. Oman’s non-oil exports ran about 10% higher year-on-year through the first seven months of 2026 and re-exports 13.6% higher, with the UAE its largest non-oil trading partner. New corridors bring new counterparties: businesses trading together for the first time, with no shared history for a lender to underwrite against.
The round brings together capital from Oman and the UAE: Phaze Ventures invests through its Oman Fund, dedicated to homegrown, AI-enabled Omani businesses, and Jasoor Ventures is an early-stage venture capital firm backing technology founders across the Middle East, North Africa, and Turkey.
The US$3 million will scale that AI-native origination and underwriting, growing the volume of trade the platform can originate, assess and finance along the Greater Bay Area – Oman – UAE corridor. It is where the industry is heading: 84% of banks in the Asian Development Bank’s January 2026 survey already apply AI to trade finance risk. mamun was built that way from origination onward.
“Our thesis is backing the homegrown companies that turn Oman’s diversification agenda into regional infrastructure. mamun is exactly that — structured across the corridor, and built by a team that has executed quietly and precisely. It is a natural commitment from the Oman Fund.”
— Abdullah Al Shaksy · Co-Founder & CEO, Phaze Ventures
mamun was founded by Saleh Al Tamami, Co-Founder & CEO, Mohammed Al Tamami, Co-Founder & Chief Commercial Officer, and Ahmed Al-Issaei, Co-Founder & CTO, and was named a Rising Star on the Deloitte Technology Fast 50 Middle East 2025, ranking 26th.
This announcement is for information only and does not constitute an offer or invitation to invest. mamun is not licensed by the Securities and Futures Commission of Hong Kong (SFC).
Hashtag: #mamun
The issuer is solely responsible for the content of this announcement.
mamun builds capital infrastructure for trade finance. The platform is Sharia-compliant, licensed and regulated by the Financial Services Authority of Oman (FSA Licence CMI051). This licence covers the Omani entity only. The group also has entities in Abu Dhabi and Hong Kong SAR. It connects businesses and investors to finance cross-border trade — exports, imports and the working capital that moves goods between markets.
Founded in 2018, Phaze Ventures is Oman’s oldest private venture capital firm. Headquartered in Oman, with a presence in Saudi Arabia and the UAE, it backs early-stage AI and deeptech companies globally and homegrown technology businesses through the Oman Fund.
Jasoor Ventures, meaning “courageous” in Arabic, is an ADGM-based venture capital firm, investing across the Middle East, North Africa, and Turkey. Arabian Post Staff -Dubai French natural hydrogen explorer Mantle8 has obtained exclusive rights to negotiate an exploration agreement for Block 7 in Ras Al Khaimah, clearing the way for the emirate’s first dedicated geophysical survey of naturally occurring hydrogen. The arrangement with the Ras Al Khaimah Department of Energy allows the Grenoble-based company to begin a non-invasive investigation of the block’s underground geology before any decision on […]
Iranian missile and drone strikes against American military installations across the Middle East initially concentrated on early-warning radars and air-defence systems before expanding to aircraft, warehouses and troop accommodation, exposing extensive damage to Washington’s regional military infrastructure. Satellite imagery and assessments of battlefield damage establish that more than 115 strikes claimed by Iran or Iranian-backed militias damaged or destroyed structures at 26 military bases and other facilities […]
A federal judge has dismissed President Donald Trump’s $10 billion defamation lawsuit against The Wall Street Journal and Rupert Murdoch over its reporting on a purported birthday letter to Jeffrey Epstein. US District Judge Darrin Gayles ruled in Miami on Saturday that Trump’s amended complaint failed to establish that the newspaper and other defendants acted with actual malice. He dismissed the case with prejudice, preventing the president […]
Attacks on commercial vessels transiting the Strait of Hormuz and surrounding waterways have reached their highest monthly level since the war involving Iran began in February, with fresh strikes during the final days of October intensifying concerns over maritime security. The Washington Institute for Near East Policy recorded 28 confirmed and reported attacks during October as of October 23, bringing its tally to 113 since the US-Israeli […]
Greenlogue/AP Climate change is causing increasingly severe health damage worldwide, prompting researchers behind the 2026 Lancet Countdown to demand formal recognition of a global health emergency and stronger international action. The assessment, published on Wednesday ahead of the COP31 climate summit, finds that deaths associated with extreme heat, exposure to drought and other climate-related dangers have increased faster than efforts to protect populations. Its authors want the […]
