Al-Naamani raises a maximum of OMR 100,000 for a projected return on investment of 10% from a minimum investment of OMR 250.
MUSCAT, OMAN – EthisX, a component of the Ethis Group, has filed a P2P crowdfunding crusade for Al-Naamani, one of the oldest tailoring chains in the Sultanate of Oman, and owned by Mazin Humaid Al Mahruqi Trading L. L. C for a maximum construction of OMR 100,000.
The one-year allocation aims to fund the company’s expansion through the direct acquisition and import of filaments and yarn fabrics from Indonesia, Korea and Japan. The company’s largest shareholder, Mazin Humaid Khalfan Al Mahruqi, fully acquired Al-Naamani’s menswear business. in 2021, he is an experienced local entrepreneur. Al-Naamani recorded an annual turnover of more than OMR 300,000 in 2021 despite the demanding situations posed by the COVID-19 pandemic.
“EthisX has a flexible financing formula that meets the wishes of our business. The team is incredibly sharp and analytical, and their threat investigation and due diligence procedure is thorough, especially in the specificity required for each campaign,” said Mazin Humaid Khalfan Al Mahruqi. , CEO of Mazin Humaid Al Mahruqi Trading L. L. C.
“In fact, it is an honor to be the first crusade presented on the EthisX platform and, as a local company, I hope our crusade resonates well with other Omani investors,” he said. “For a fairly low access point of 250 OMR, investors get a competitive return on investment of 10%. We have high hopes for this crusade, and see it as a street for Omanis who wish to contribute to the MSME ecosystem in the Sultanate of Oman.
As the first moral cross-border personal capital marketplace of its kind, EthisX provides Shariah-compliant direct investments in SMEs and special purpose vehicle (SPV) projects worldwide. Approved through the Capital Market Authority (CMA), the capital and insurance market regulator and administrator of the Sultanate of Oman, EthisX is controlled through Ethis Investment Platform LLC, in Muscat, Sultanate of Oman and Kuala Lumpur, Malaysia.
“For EthisX, we are completely focused on bringing new capital resources to Oman through a good look for Oman’s local investors, but most importantly for our global investor base from over 80 countries,” said Riza Ismail, Chief Operating Officer of EthisX. The need for new capital resources aligns with the Oman 2040 vision which, according to Dr. Yousuf Hamed Al Balushi, chief economist of the Oman 2040 Vision Working Group, calls for a replacement of key elements and notes that the long-term expansion of business in Oman, adding capital, and this can be achieved with foreign direct investment and local personal resources.
“Through EthisX, we are well placed for Omani corporations to attract significant FDI to enable the country to take a new path of progression based on investment, production and exports that will enable the country to meet its two biggest challenges: economic diversification and task creation, in the future. “it was post-pandemic,” he said.
Founded in 1979, Al-Naamani is one of the oldest tailoring chains in the Sultanate of Oman. It offers a tailor-made garment and ready-to-wear for the formal and informal men’s fashion of Oman, the dishdasha similar to a thobe, and that will have to be used compulsorily in all official places, and culturally, also used daily. Al-Naamani has a total of 30 branches spread across the Sultanate of Oman, covering major cities. They also sell their prepared dishes to some of the leading hypermarkets in the Sultanate of Oman.
Oman’s menswear fabric market included various types, basically artificial fabrics, as well as spun, filamentous and knitted fabrics. the Southeast Asian region, as well as Korea and Japan. Al-Naamani has a factory that also functions as a sewing center in the city of Bidbid, with more than 70 well-trained tailors.
“Al Namaani is the stall where I get my clean Dishdasha, not only for me but also for all my brothers and my father, the shop is our reference when we are looking for a dishdasha of high quality, comfortable and tailor-made. It has been a circle of family tradition,” said Mohammed Alruqaishi, an unwavering visitor and spouse of EthisX.
Disclaimer: The content of this press release has been provided through a third-party third-party provider. This online page is not guilty of this external content and does not. This content is provided on an “as is” and “as available” basis and has not been modified in any way. Neither this online page nor our affiliates warrant the accuracy or endorse the perspectives or reviews expressed in this press release.
The press release is provided for informational purposes only. The Content does not provide tax, legal or investment recommendations or reviews relating to the suitability, price or return of any specific security, portfolio or investment strategy. Neither this nor our affiliates shall be held responsible for errors or inaccuracies in the content, or for any action taken through you based thereon. You expressly agree that your use of the data contained in this segment is at your own risk.
To the fullest extent permitted by applicable law, this website, its parent company, subsidiaries, affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors shall be liable (jointly or individually) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including, but not limited to, lost profits, loss of savings and loss of revenue, whether by negligence, tort, contract, or any other theory of liability, even if the parties have requested the option or may simply have foreseen such damages.