O Gold and Mawarid Finance Launch Region’s First Shariah-Compliant Gold-Backed Prepaid Card

Dubai: In a pioneering move at the intersection of ethical finance and fintech, O Gold, the UAE’s leading digital gold investment platform, has announced a strategic partnership with Mawarid Finance, a renowned Shariah-compliant financial institution, to launch the region’s first prepaid card backed by physical gold and fully compliant with Islamic finance principles.
This landmark collaboration marks a new chapter in the digital transformation of real assets, bringing consumers a secure, ethical, and innovative way to integrate gold into everyday financial transactions. The prepaid card, underpinned by physical gold reserves, combines the enduring value of precious metals with modern-day convenience.Founded to democratize access to precious metals, O Gold provides users with a seamless platform to buy, sell, lease, and redeem physical gold and silver. With partners like SAM Precious Metals and AKW Consultants, the company empowers individuals to interact with gold not just as an investment, but as a functional financial tool in daily life.“Our objective is to offer customers ethical financial products that combine the timeless value of gold with practical modern use,” said Bandar Alothman, Founder of O Gold. “This partnership with Mawarid Finance is a significant milestone in our mission to bring inclusive and Shariah-compliant innovation to the market.”Rashid Al Qubaisi, CEO of Mawarid Finance, emphasized the partnership’s alignment with Islamic values and the growing demand for asset-backed financial alternatives. “Leveraging our deep expertise in Shariah-compliant finance, Mawarid Finance is excited to collaborate with O Gold on this groundbreaking initiative. This partnership allows us to extend the benefits of real asset-backed value to a wider audience through a convenient and ethically sound prepaid card.”Established in 2006, Mawarid Finance is recognized for its broad portfolio of ethical financial solutions for individuals, SMEs, and corporates—grounded in transparency and social responsibility.As digital finance continues to evolve, this collaboration sets a precedent for innovation rooted in integrity. The gold-backed prepaid card is expected to appeal to a diverse audience, particularly those seeking Shariah-compliant and secure alternatives in the modern financial ecosystem.