Follow the trade, investment and partnerships bringing China and the UAE closer together.
Sharia-compliant fintech platform mamun has secured $3 million in seed funding led by Phaze Ventures. The Muscat-, Abu Dhabi-, and Hong Kong-based platform provides trade financing for SMEs across the Greater Bay Area–Oman–UAE corridor.
Sharia-compliant trade finance platform mamun has raised a US$3 million seed round led by Phaze Ventures with participation from Jasoor Ventures. The capital will expand its AI-native underwriting infrastructure across the Greater Bay Area–Oman–UAE trade corridor. Approximately 40% of the platform's settlements currently clear through Hong Kong-based entities.
Major Chinese financial institutions have emerged as leading syndicated debt providers for prominent Gulf energy operators including ADNOC, QatarEnergy, and Saudi Aramco. Analysts note Gulf state champions are deliberately tapping Chinese capital to secure narrow credit margins and diversify financing pools. In the UAE, three Chinese banks joined a consortium delivering up to USD 11 billion for ADNOC's offshore gas project.
Chinese engineering and equipment firms are playing an expanding role in the UAE's clean energy transition through major utility-scale projects. Developments include the 1.5-gigawatt PV3 Al Ajban solar project, phases of the Mohammed bin Rashid Al Maktoum Solar Park, and integrated battery storage facilities.
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