Sharia-Compliant Gold Souq Platform Debuts in Bahrain
The Gold Souq digital platform has launched in Bahrain, marking the country’s first Sharia-compliant application for saving, investing, and trading gold. During the event, Ayman bin Tawfiq Almoayyed attended in his capacity as Secretary-General of the Supreme Council for Youth and Sports and Chairman of the Board of Hope Fund. Moreover, the platform introduces a modern digital system that allows users to buy, sell, save, and invest in gold in line with Islamic principles. As a result, it represents a notable step in the Kingdom’s financial technology and investment landscape.
Focus on innovation and youth empowerment
Almoayyed emphasized the importance of expanding innovative digital solutions in the investment sector to support the national economy and create wider opportunities for entrepreneurs and Bahraini talents, particularly in the creative industries. In addition, he noted that supporting innovation-driven entrepreneurial projects aligns with SCYS’s strategy to empower youth and encourage their participation in future-oriented sectors with regional and international potential. Furthermore, he said that the platform reflects an advanced approach to adopting digital solutions that enhance investment sustainability. At the same time, it integrates financial technology with Sharia compliance to strengthen public confidence in modern saving and investment tools.
Platform model and creative integration
During the launch, Almoayyed was briefed by Nawaf Saeed, founder of the application, on the operating model connecting savers, jewelry designers and traders, factories, and financial institutions. Additionally, the platform offers secure and flexible options for buying and selling gold, alongside a smart saving feature that enables users to preserve value and maintain full control through a single digital interface. Meanwhile, it introduces a model that combines saving and utilization, enabling users to generate direct returns on gold through organized, Sharia-compliant mechanisms without full reliance on global price fluctuations.
Hussam Saif, Vice Chairman of the Board of Directors, stated that the application supports multiple business models, including B2B and B2C transactions. He added that it was designed to provide a secure and efficient environment for investors and goldsmiths, while linking them with specialized gold bullion factories and offering integrated operational and Sharia-compliant solutions. Moreover, he announced the successful completion of the platform’s second seed funding round, highlighting growing investor confidence in its expansion potential.
As part of the launch activities, a showroom was inaugurated at Yateem Centre in Manama. There, the Secretary-General viewed collections by five Bahraini female jewelry designers that combine modern aesthetics with cultural heritage. Consequently, the showroom aims to act as an incubator for national design talent. At the same time, the digital platform enables independent designers to present their creations with protected intellectual and commercial rights, while also providing exhibition spaces and integrated marketing services.
