Latest news with #sharingeconomy
Zawya
7 hours ago
- Business
- Zawya
Omani-Dutch Collaboration: Oman Data Park signs strategic agreement with "Daily Millionaire" to redefine Sharia-Compliant Luxury E-Commerce
Muscat: In a strategic move that reflects its commitment to driving digital transformation and fostering innovation aligned with Islamic principles, Oman Data Park (OPD) has announced a partnership with Rihal (Data Migration and Services) to build and host a groundbreaking digital platform named "Daily Millionaire". The agreement was signed by Mr. Abdullah bin Salem Al Abadi, co-founders of the platform and Mr. Haider Al Maktoumi, co-founders, as part of a joint investment valued at USD 13 million (approximately OMR 5 million) in its first phase. The platform represents a transformative concept in the realm of the sharing economy, combining e-commerce, Sharia-compliant digital raffles, and fractional ownership. It enables users to purchase shares in luxury assets such as cars, villas, and gold and enter transparent digital draws powered by blockchain technology. The platform also includes a digital wallet and a loyalty points system designed in accordance with Islamic finance principles, offering users a fair and empowering digital experience that blends smart purchasing with a spirit of solidarity. Commenting on the announcement, Khalid Al Abri, Chief Financial Officer in Oman Data Park (OPD), stated: "We are proud to lead the development of this platform in collaboration with Rihal. 'Daily Millionaire' reflects our commitment to supporting high-impact digital solutions through secure and sovereign cloud infrastructure. Hosting the platform on our cloud ensures scalability and flexibility, while aligning with Oman's Vision 2040 goals of fostering a knowledge-based economy and an integrated digital society." From his side, Mr. Azzan Al Kindi, Co-founder & Chief Executive Officer of Rihal, added: "This platform is the result of our vision to offer an innovative digital model that combines commerce, investment, and social solidarity meeting the aspirations of younger generations seeking fair and sustainable solutions. We believe that merging technology with values can deliver a unique experience that promotes digital justice and opens doors to broader community engagement through innovation." The platform leverages cutting-edge technologies such as artificial intelligence and advanced analytics to deliver a secure, transparent, and fair experience that enables users to contribute to sustainable social impact. It also aims to support local employment opportunities and attract tech sector investments, through an Omani–Dutch partnership that showcases local talent and works with European partners to deliver globally scalable solutions. The platform is planned to be a global one, including participants from all countries around the world. This strategic roadmap aims to position the platform as a promising tech gateway that bridges Omani innovation with international standards, offering a digital experience rooted in human values and Sharia-compliant frameworks. This partnership exemplifies a powerful synergy between Oman Data Park's smart infrastructure and Rihal's innovative vision, supported by European collaborators. Together, they are shaping a new model of tech entrepreneurship built on ethical foundations and social responsibility paving the way for a more just and sustainable digital future.
Jordan Times
11-05-2025
- Business
- Jordan Times
Sharing economy: A cross-sectoral approach by local governments
In response to the pressures of global inflation, shifting trade dynamics, and the need to support the middle class, Jordan has recognised that innovative economic thinking is no longer optional—it is essential. The country must develop strategies that are rooted in local strengths but not overly dependent on government subsidies or external resources. Central to this approach is the idea of a sharing economy, where municipalities play a key role in organizing and maximizing the use of available assets across sectors, particularly in agriculture. Jordan's economy is small and resource-constrained, and only about 11per cent of the country's land is suitable for agriculture. Much of that land is underutilised, fragmented, or threatened by urban expansion. Yet this challenge presents an opportunity: municipalities can lead efforts to revitalise unused land by coordinating land-sharing initiatives between landowners and farmers, without requiring ownership transfer. This approach fosters local cooperation, increases food production, and directly contributes to the national goals of food security, sustainability, and economic growth. The sharing economy model allows for mutual benefit: landowners provide unused agricultural plots, while farmers or cooperatives offer labour and expertise. While some communities in Jordan have already practiced informal land leasing, these efforts remain scattered and unstructured. Municipalities can formalize these arrangements by creating digital and social platforms that facilitate transparent, cooperative farming ventures based on fair, documented agreements. Local governments have a critical role to play. They can start by assessing public and private land availability, using geographic information systems to determine suitability based on factors like soil type, location, and water access. Municipalities can then launch a user-friendly digital platform, in Arabic and mobile-compatible, where landowners list plots and interested farmers apply. These platforms should also include tools for creating profit-sharing contracts, crop plans, and tracking project outcomes. Alongside this, an interactive social platform, developed in collaboration with NGOs, universities, schools, and cooperatives, can help farmers and landowners communicate, share experiences, and access support. The system must include outreach via SMS or in-person visits for farmers with limited digital literacy, in coordination with the Ministry of Agriculture. These platforms will ensure inclusivity and transparency, especially for marginalized groups such as women, youth, and refugees. Participation should be encouraged through awareness campaigns, workshops, and municipal incentives. Just as importantly, the land-sharing model must incorporate sustainable agricultural practices, such as drip irrigation, organic farming, and water harvesting, to align with Jordan's environmental goals and water scarcity challenges. The success of these programs also depends on well-structured support systems. Municipalities should maintain a public database of available land, ensure the quality of soil and water access, and offer logistical support. They can further boost local economies by helping farmers market their products through urban markets, festivals, or direct links to retailers and export companies such as the Jordan Agri-Food Export Company. Encouraging cooperatives to pool resources for processing facilities, like olive presses and drying units, will also increase the value of local produce. Dispute resolution is another essential component. Legal frameworks must be built into the system, with contracts reviewed by municipal and Ministry of Agriculture legal experts. Disagreements should be resolved through local committees that ensure fairness and accountability. Additionally, municipalities should work to build community trust by involving the public at every stage, from project design to implementation. This can be done through public meetings, open consultations, and consistent communication with all stakeholders. Ultimately, the role of municipalities extends beyond regulation, they are catalysts of local development. By guiding land-sharing initiatives, ensuring inclusivity, resolving disputes, and connecting farmers to markets, local governments can transform the sharing economy into a practical, community-driven solution for Jordan's most pressing challenges. In doing so, they not only promote food security and economic resilience but also foster social cohesion and environmental stewardship. Jordan stands at a critical juncture. With strategic planning, technological integration, and committed local leadership, the sharing economy can serve as a powerful engine of sustainable, cross-sectoral development. The future of inclusive growth lies not in centralised mandates, but in community-led solutions. Page 2
