O Gold, the UAE’s leading digital gold investment platform, has partnered with Mawarid Finance to launch the region’s first Shariah-compliant prepaid card backed by physical gold.
The groundbreaking initiative seeks to transform gold from a traditional store of value into a practical, ethical financial tool. Users will be able to access and spend gold through a prepaid card fully aligned with Islamic finance principles.
“This partnership is a major step forward in offering ethical financial products that blend gold’s enduring value with modern usability,” said Bandar Alothman, Founder of O Gold.
O Gold enables users to buy, sell, lease, and redeem physical gold and silver through its digital platform. Backed by entities such as SAM Precious Metals and AKW Consultants, the platform emphasizes transparency and ease of access to precious metals.
Mawarid Finance, founded in 2006, is a prominent Shariah-compliant institution offering ethical banking solutions to individuals and businesses across the UAE. CEO Rashid Al Qubaisi said the collaboration reflects a shared vision of responsible innovation.
“Through this partnership, we aim to deliver secure, asset-backed alternatives that are accessible and aligned with our values,” he said.
The gold-backed prepaid card is expected to appeal to a broad range of users seeking secure, ethical, and tangible financial solutions.
