Oman Fintech Mamun Expands Hong Kong Presence to Support GCC Trade Finance
Oman-based fintech Mamun is expanding its operations in Hong Kong as it looks to deepen trade finance connections between the Gulf Cooperation Council (GCC) and Asia. The move reflects the company’s wider effort to build a stronger cross-border financing network linking the Gulf region with China’s Greater Bay Area.
According to a report by Arab Founders, the expansion is part of Mamun’s strategy to strengthen trade finance flows between GCC markets and China-linked commercial activity. The company first entered Hong Kong earlier this year with support from InvestHK, the city’s investment promotion agency.
As part of its growing presence in the market, Mamun executives recently met with InvestHK officials, including Global Head of Financial Services King Leung and Senior Vice President of Fintech Peggy Kwok. The discussions reportedly focused on potential new trade finance partnerships and the role Hong Kong can play in the company’s regional growth plans.
Building a Two-Way Financing Corridor
Mamun is positioning its Hong Kong expansion around a two-way financing corridor, rather than a one-directional model focused only on funding Gulf imports from Asia. Under this approach, GCC buyers can source products from Hong Kong, while Hong Kong-based businesses and financial institutions gain access to trade opportunities in the Gulf.
The company has also highlighted Hong Kong’s growing importance in its operating structure. At present, financial institutions and businesses based in Hong Kong handle around 40% of Mamun’s trade finance settlements. These transactions are executed for GCC customers through Murabaha contracts, an Islamic finance structure commonly used in trade and working capital financing.
Mamun expects that share to increase as it develops more commercial relationships in the region. The company’s expansion comes at a time when more Gulf financial institutions are looking at Hong Kong as a gateway for financing trade with Asia.
Role of Regulated Digital Infrastructure
Mamun says its platform combines regulated digital infrastructure with Islamic finance principles to simplify access to working capital for businesses operating across markets. By linking compliant digital tools with Shariah-aligned trade finance structures, the fintech is targeting companies that need efficient cross-border financing solutions.
The company’s Hong Kong strategy suggests that it sees the city not only as a financial center, but also as a key operating hub for settlements and partnership development across its GCC-Asia trade finance network.
Industry Analysis
Mamun’s expansion highlights the growing relevance of Hong Kong in GCC-Asia trade finance corridors. For fintechs operating in Islamic finance, the combination of regional trade demand, digital infrastructure, and an established international financial center can create new opportunities for settlement, funding, and partnership growth.
The move also reflects broader interest among Gulf institutions in diversifying trade finance access beyond traditional routes. If Mamun’s Hong Kong network continues to grow, it may serve as a model for fintech-led trade finance structures that connect Middle Eastern buyers with Asian suppliers and financial institutions through regulated, Shariah-compliant channels.
Featured image credit: Edited by Fintech News UAE, based on an image by Mamun via LinkedIn.
