The Gold Souq digital platform, Bahrain’s first Sharia-compliant application for saving, investing and trading gold, has been launched in the presence of Ayman bin Tawfiq Almoayyed, Secretary-General of the Supreme Council for Youth and Sports (SCYS) and Chairman of the Board of Hope Fund.
The platform offers a modern digital system that enables users to buy, sell, save and invest in gold in accordance with Islamic Sharia, marking a milestone in the Kingdom’s financial technology and investment landscape.
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. 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.
The Secretary-General said that the launch of the Gold Souq platform reflects an advanced approach to adopting digital solutions that enhance investment sustainability, while integrating financial technology with Sharia compliance to strengthen public confidence in modern saving and investment tools.
During the launch, Almoayyed was briefed by Nawaf Saeed, founder of the Gold Souq application, on the platform’s operating model, which connects four key stakeholders: savers, jewelry designers and traders, factories, and financial institutions. The platform provides secure and flexible options for buying and selling gold, along with a ‘smart saving’ feature that allows users to preserve value and maintain full control over their savings through a single digital interface.
The platform also introduces an innovative 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.
Image credits: BNA | Cropped by GBN
Hussam Saif, Vice Chairman of the Board of Directors of Gold Souq Company, stated that the application supports multiple business models, including business-to-business (B2B) and business-to-consumer (B2C) transactions. He added that the platform 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.
Saif also announced the successful completion of the platform’s second seed funding round under the supervision of Bunat Ventures and RZM Investments, highlighting growing investor confidence in the project’s expansion and growth potential.
Image credits: BNA | Cropped by GBN
As part of the launch activities, the Gold Souq showroom was inaugurated at Yateem Centre in Manama. The Secretary-General viewed collections by five Bahraini female jewelry designers, showcasing designs that combine modern aesthetics with Bahrain’s cultural heritage.
The showroom aims to serve as an incubator for national jewelry design talents, while the Gold Souq platform enables independent designers to present their creations with protected intellectual and commercial rights. It also provides designers with exhibition spaces and integrated marketing services, creating synergy between the digital platform and the on-ground showroom experience.
