NUQI GOLD and Mawarid Finance sign MoU to launch the GCC's first gold-backed co-branded card
Nuqi Gold, a DMCC-registered fintech entity, and Mawarid Finance, a UAE Central Bank–regulated institution, have signed a Memorandum of Understanding (MOU) to launch the GCC's first gold-backed co-branded card — a landmark step in ethical, asset-backed digital finance.
The partnership brings together Nuqi's proprietary digital gold infrastructure, Transguard DMCC's institutional-grade vaulting and insurance, and Mawarid's Shariah-compliant financial expertise to deliver a product built for the way people actually live: buy certified 24K physical gold digitally, hold it securely, and spend against it instantly.
Clients who purchase gold through the Nuqi Gold platform — every gram fully backed by real, insured, vaulted physical gold — can immediately access a Platinum Mastercard worth up to 70 per cent of their gold's current value. The gold continues to grow. The card works anywhere.
Card benefits
· Up to 10 per cent cashback on spends
· Global airport lounge access
· Valet parking privileges
· Flexible payment plans
Available in two variants: virtual card for digital-first users; exclusive physical card for premium clients.
This initiative marks a significant convergence of physical asset ownership and modern payments infrastructure — redefining liquidity, luxury, and ethical finance for the GCC and beyond.
Leadership commentary
"Backed by NUQI's proprietary fintech infrastructure, Transguard's vaulting and insurance, and Mawarid's financial expertise — this is a major leap forward in ethical, asset-backed digital finance. The safety of gold. The flexibility of modern payments. Innovation built in Dubai, designed for the world." — Imran Farooqui, Founder & CEO, Nuqi Group
"The NUQI GOLD Card blends innovation, liquidity, and Shariah-compliant finance in a way that actually fits how people live. Let your gold grow while you go. Karak in the morning. School fees by afternoon. Flight booked by evening. Everyday transactions. Backed by something real." — Shremohan Chauhaan, Co-Founder & CxO, Nuqi Group
"This partnership redefines how customers can access and utilize their wealth — combining the stability of gold with the convenience of digital payments, fully aligned with our Shariah-compliant principles and our mission to deliver innovative, responsible financial solutions." — Rashid Al Quwaisi, CEO, Mawarid Finance
