A new digital application has been launched to provide a modern system for saving, investing and trading gold in accordance with the provisions of Islamic Sharia.
The Gold Souq electronic platform reflects an advanced approach towards adopting innovative digital solutions to enhance investment sustainability and represents a practical model for integrating financial technology with compliance with Sharia regulations – thereby strengthening individuals’ confidence in modern saving and investment tools, said Supreme Council for Youth and Sports (SCYS) secretary general and Hope Fund board chairman Ayman Almoayyed as he announced the launch.
He emphasised the importance of continuing to deploy innovative digital solutions in the investment sector to support the national economy and expand opportunities for entrepreneurs and Bahraini talents, particularly in the creative industries.
“Supporting innovation-based entrepreneurial projects aligns with the SCYS’s directions to empower youth and encourage their engagement in future-oriented sectors with regional and international reach, he added.
Mr Almoayyed was briefed by application founder Nawaf Saeed on its operating mechanism, which manages processes among four main parties: savers, jewellery designers and traders, factories and financial institutions.
The platform provides flexible and secure options for buying and selling gold, in addition to a “smart saving” feature that enables individuals to preserve value and maintain full control over their savings through a unified digital platform.
The platform also adopts an innovative model that combines saving and utilisation, allowing users to generate direct returns on the gold itself through organised mechanisms compliant with Sharia regulations, without full reliance on price fluctuations in global markets.
Gold Souq Company board of directors vice-chairman Hussam Saif said, “The application supports multiple business models, including business-to-business (B2B) and business-to-consumer (B2C) transactions.”
He underscored that the platform was designed to provide a secure and efficient environment for investors and goldsmiths, while linking them with specialised gold bullion factories and offering integrated operational and Sharia-compliant solutions.
He also affirmed the platform’s success in completing its second seed funding round under the supervision of Bunat Ventures and RZM Investments, reflecting investor confidence in the project’s capacity for expansion and growth.
As part of the launch activities, the Gold Souq showroom was inaugurated at Yateem Centre in Manama, where the secretary general viewed the creations of five Bahraini female designers who presented distinguished collections blending modernity with the authentic spirit of Bahraini heritage.
The showroom serves as an incubator for national talents in jewellery design, while the Gold Souq platform enables independent designers to showcase their designs with guaranteed protection of their intellectual and commercial rights, enhancing the value of national creativity and limiting the replication or copying of designs.
The showroom also represents a supportive operational and logistical arm for designers by providing exhibition spaces and integrated marketing services, achieving integration between the digital experience via the application and the on-ground experience within the showroom.
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