900 Hajj places taken up in Singapore

The Islamic Religious Council of Singapore (MUIS) has successfully allocated the full quota of 900 Hajj places for 2026 (1447) to eligible applicants who submitted the required medical certificate, as stipulated by the KSA Ministry of Hajj and Umrah (MOHU). 

The health certificates confirm that the pilgrims are medically fit, free from the disqualifying chronic medical conditions, and are physically capable of performing Hajj rituals safely, in line with MOHU’s new health requirements. To better support senior applicants, MUIS had given priority consideration to those aged 70 years and above who have received the letter of intent and are certified medically fit during the final selection for Hajj 2026. 

Of the 900 places, 12% were allocated to senior applicants aged 70 and above who qualified under the quota, an increase of 5% from 2025. MUIS will continue to review and adjust this approach as needed for future allocation exercises. 

Acting Minister-in-charge of Muslim Affairs and Senior Minister of State for Home Affairs, Singapore, Associate Professor Muhammad Faishal Ibrahim said: "The successful allocation of all 900 Hajj places for Hajj 2026 reflects our collective commitment in ensuring a fair, transparent and compassionate process for Singaporean pilgrims. All 900 selected pilgrims are medically fit, having obtained the required medical certificate from registered medical practitioners in Singapore as required by the Ministry of Hajj and Umrah (MOHU) of Saudi Arabia. 

"This measure aims to protect the safety and well-being of our pilgrims. MUIS will continue to work closely with our partners and the Saudi authorities to ensure that our pilgrims are well prepared financially, physically, mentally and spiritually for this sacred journey, as we strive to fulfil our community’s aspirations."

All confirmed pilgrims have purchased their Hajj packages from MUIS-authorised travel agents, MUIS said.

 Applicants who did not receive the letter of offer in this allocation exercise will remain on the waiting list until 20 March 2026, the closing date for Hajj visa processing set by MOHU. Applicants who do not receive any communication from MUIS via the MyHajSG portal after 20 March 2026 may assume no places are available for 2026. Currently, about 65,000 applicants are awaiting their turn.

Mega Matrix, Ihsan Dhahab to develop Islamic precious metals ecosystem

Mega Matrix has signed a memorandum of understanding (MoU) with Ihsan Dhahab in January to finance and operate a an Islamic precious metals ecosystem. 

Under the MoU, the parties agreed to collaborate on a range of projects, including:

- An integrated precious metals special economic zone located in the Middle East, primarily in KSA, Qatar or other locations, dedicated to the entire precious metals value chain, including refining, storage, trading, and manufacturing

- To design, structure, develop, and launch a shari'ah-compliant, real-world asset (RWA) gold-backed token and stablecoin 

- To establish and operate a shari'ah-compliant digital exchange for the trading of precious metals, bullion, and other RWA-based financial instruments

- To create an Islamic digital bullion bank, providing shari'ah-compliant financing, vaulting, logistics, and other banking services for the precious metals ecosystem

- To collaboratively identify, assess, and develop other innovative fintech projects that align with the strategic objectives of the parties.

As part of the collaboration, Mega Matrix will draw on its technical experience in stablecoins and Web 3 to provide advisory support for capital raising and financing, including equity investments, debt arrangements and other compliant financial instruments. Mega Matrix will also provide expertise in corporate structuring, financial modelling, capital markets strategy and international governance standards, and will contribute its technology, intellectual property and global Blockchain and digital asset network to support project implementation and scalable development.

Ihsan Dhahab will act as the founders group and promoter, leveraging their local presence and market knowledge in KSA, Qatar and the wider region to provide strategic direction, sector expertise in Islamic finance and precious metals markets, and to lead regulatory approvals, licensing and day-to-day operations following project commencement.

Yucheng Hu, CEO of MPU commented: "Partnering with Ihsan Dhahab that has deep local experience and resources in the Middle East to develop the precious metals RWA sector represents a measured extension of MPU's stablecoin and its governance token DAT strategy. MPU is contributing to the development of global digital financial infrastructure while broadening its activities within the stablecoin and Web 3 landscape."

DAT stands for digital asset treasury. 

Muslim-focused wearables launched at CES

Muslim-focused consumer technology will appear alongside mainstream global wearables at CES 2026 as iQIBLA unveils its third-generation smart device lineup at the event. The products address daily religious practice, continuous health monitoring, and physically-demanding environments, reflecting how connected devices are increasingly being designed around real cultural and environmental needs.

Source: iQIBLA. The iQIBLA third-generation smart wearables: (from left) the Zikr Ring J03 smart ring, Qwatch S6 smart watch, and the Hajj Band.

Founded in 2021, iQIBLA created the smart dhikr (ذِكْر, remembrance of god) ring category and has since shipped more than 3.5 M devices worldwide, with particularly strong uptake across GCC markets including KSA, the UAE, and Kuwait. There has been broader adoption across the Middle East and Southeast Asia, iQIBLA said.  

The Zikr Ring J03, iQIBLA's third-generation smart ring and the first to integrate Qibla direction into a ring-based wearable. Designed for discreet, continuous use, the device supports nine dhikr channels, touch controls, text display, prayer time reminders, and daily activity tracking.

Also featured is the Qwatch S6, a third-generation Bluetooth smart watch equipped with medical-grade sensors. The device monitors heart rate, blood oxygen levels, sleep quality, physical activity, and sedentary behaviour. Alongside these health functions, it includes Quran access, prayer time reminders, qibla direction, a tasbih counter, multiple dhikr channels, and a Hijri calendar.

Completing the lineup is the Hajj Band, developed specifically for Hajj, umrah, and other high-exertion, high-density environments. The wearable continuously collects vital-sign data, uploads health information in real time, and issues alerts as physical strain increases, supporting users during prolonged walking, heat exposure, and crowd-intensive conditions.

"From the beginning, our focus has been on building technology that fits naturally into daily life," said the founder of iQIBLA, Jack Shao. 

"Many of our real-world use cases come directly from the Middle East. CES gives us a platform to show how these products sit naturally alongside the wider global consumer technology industry."

Lights of Vienna reports completion of Makkah lighting project

Lights of Vienna, a global provider of premium custom lighting, has completed the manufacturing and delivery of all chandeliers and luminaires for the Mataf extension at the Holy Mosque in Makkah. 

The Ꞓ90 million project covers gold-gilded chandeliers, ceiling and wall luminaires, and climate-resistant outdoor lighting, all equipped with high-efficiency LED systems. About 550 custom-made fixtures were delivered across 10 lighting types, produced from high-grade stainless steel and more than 200 kg of 24-karat gold. 

All fixtures passed extensive structural, waterproofing, and heat-resistance tests, exceeding international certification requirements. The centrepiece is the 7 m Al Fath Gate chandelier, weighing 3 tons and engineered to meet the extreme environmental and operational demands of the world's most visited mosque. 

"This project highlights our capability to deliver large-scale, technically-sophisticated lighting solutions with cultural relevance," said Lights of Vienna's Managing Partner Alexander Oborny. 

The project extends Lights of Vienna's longstanding involvement in Makkah, following its earlier supply of more than 4,450 luminaires for the Shamiya Extension. Production was carried out in Austria with support from partners in Austria and Italy.

PayNet launches digital aid for Sabah

Payments Network Malaysia (PayNet) has partnered with Gobarakah Tech (Gobarakah) to deliver targeted relief to rural communities impacted by floods and landslides in Penampang, Sabah. 

The digital flood relief supported over 140 individuals from 47 households in heavily-affected areas, including Kampung Madsiang, Kampung Sogumau, Kampung Inobong, Kampung Limbata, and Country Heights.

This marks PayNet’s first digital aid initiative in rural Sabah and its second relief effort for Penampang. Beneficiaries were verified and onboarded onto Gobarakah’s platform, receiving e-vouchers, enabling impacted households to redeem essential goods via Koperasi Wawasan Rakyat Sabah’s mobile supply trucks and local grocery stores. Earlier this year, PayNet also supported repairs at the Madsiang Community Learning Centre (under Moyoq Innovation House) damaged by the 2024 floods.

“The current monsoon season has heavily impacted the residents of Penampang. Our goal was to provide greater control and flexibility in the flood aid relief to the impacted residents. This digital approach in partnership with Gobarakah, empowers beneficiaries to choose what they needed and assures donors that contributions reach the intended recipients,” said Farhan Ahmad, Group CEO of PayNet.

Source: PayNet. Representatives from PayNet and Gobarakah together with residents from Penampang.

Azentio announces 2025 AAOIFI certication for flagship core banking platform

Azentio Software, a technology enabler in the financial space, has received full certification for 2025 from the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) for its flagship Islamic core banking platform iMAL.

This marks the 16th consecutive year that iMAL has achieved AAOIFI certification. 

"We are pleased to conclude the review of the latest version of iMAL for the year 2025," said Omar Mustafa Ansari, Secretary General of AAOIFI. 

"IMAL's proactive approach to compliance with AAOIFI's Shariah and Financial Accounting Standards, including (the) upcoming FAS 44, 45, 46, and 47, demonstrates its commitment to providing the best shari'ah-compliant solution for customers, thereby enhancing the credibility and trust in the Islamic finance industry. Our partnership with Azentio is a vital pillar in advancing the global Islamic finance industry."

Built specifically for Islamic financial institutions, iMAL is trusted by leading banks across the Middle East, Africa, and Asia to support shari'ah-compliant operations from end to end, including customer onboarding, product structuring, accounting, and reporting. 

Azentio's in-house Shari'ah Compliance Team continuously tracks updates to AAOIFI standards and exposure drafts, ensuring iMAL evolves in lockstep with regulatory shifts and emerging market needs. The latest release of iMAL also includes the new Musaqat product, which is tailored for the Islamic finance sector to meet the needs of the irrigation industry. 

Khaled Berjawi, Senior VP Product Management for iMAL at Azentio said: "In a market where trust and compliance are everything, iMAL stands alone. Our continued AAOIFI certification, uninterrupted for 16 years, is more than a regulatory milestone. It reflects our deep commitment to empowering Islamic financial institutions with cutting-edge technology that is rigorously, verifiably shari'ah-compliant. 

"No other platform can make that claim. We are proud to be at the forefront of Islamic fintech, helping our clients deliver modern, compliant services that scale with demand." 

Taman Safari Indonesia introduces tropical wonders to Middle Eastern travellers

With a legacy spanning over four decades, Taman Safari Indonesia Group manages eight premier destinations: Taman Safari Bogor, The Grand Taman Safari Prigen (East Java), Taman Safari Bali, Marine Safari Bali, Solo Safari (Central Java), The Beach Safari Batang, Jakarta Aquarium & Safari, and Enchanting Valley. 

As one of the largest wildlife conservation and recreation institutions in Southeast Asia, Taman Safari Indonesia offers nature and wildlife experiences with Indonesian hospitality, and is highly sought-after by travellers from Oman and KSA, the group said. 

Taman Safari Bogor and Marine Safari Bali are among the most popular with Middle Eastern travellers. Nestled at the foothills of Mount Gede Pangrango, Taman Safari Bogor provides an open-range safari adventure within the cool tropical forest. Visitors can feed giraffes, observe animals from across continents, and take in tranquil mountain views. 

With halal dining options, prayer facilities, and family-friendly accommodations such as Safari Resort and Royal Safari Garden, Bogor stands as the perfect retreat for Muslim families seeking both relaxation and connection with nature.

Meanwhile, Marine Safari Bali combines the island's rich culture with exotic marine encounters. One of its newest attractions is Varuna, an underwater theatrical dining experience that fuses artistry, technology, and halal cuisine.

"We've observed a growing interest among travelers from Oman, Riyadh, and Jeddah in exploring Indonesia's natural and cultural heritage," said Alexander Zulkarnain, ACT CMO of Taman Safari Indonesia Group. 

"Through Taman Safari Bogor and Marine Safari Bali, we aim to create experiences that not only entertain but also enrich the soul and bring visitors closer to the wonders of wildlife." 

Center for Islamic Civilization preps for grand opening

Source: Center of Islamic Civilization website. Image of the centre.

Unique in the region, the Center for Islamic Civilization, whose opening is planned soon, is both a declaration of identity and an invitation to the world to see how the crossroads of Central Asia contributed to the formation of world civilisation. 

Conceived by President Shavkat Mirziyoyev in 2017, the new cultural landmark of Tashkent has a mission to preserve, study, and share the intellectual and artistic heritage of Islamic civilization. During his most recent visit to the site, President Mirziyoyev reviewed the finishing touches and said: "This centre will serve our people for centuries, and each of its patterns will go down in history."  

President Mirziyoyev has also described the project as a cultural and spiritual initiative: "Through the Center for Islamic Civilization, we want to show that our sacred religion is a religion of goodness, humanism, and enlightenment." 

Speaking in September 2025 at the UN General Assembly, the president noted that by consistently pursuing a policy of tolerance in society, Uzbekistan will actively continue its efforts to study the ideas of Islamic enlightenment and promote them worldwide. He also announced that the Center for Islamic Civilization will soon open.

The Center for Islamic Civilization is located in the historic heart of Tashkent, next to the iconic Hazrati Imam. The US$200 M three-storey building measures 145 m by 115 m. 

The building's centrepiece is the Uthman Quran – one of the world's oldest Quranic manuscripts. The significance of the manuscript is reflected by its inclusion in UNESCO's Memory of the World Register, a global initiative to preserve and promote heritage and artifacts of global significance. Displayed in an octagonal hall beneath the building's 65m high central dome, it will set the tone for the entire museum – as a place of faith, scholarship, and enlightenment.

Four thematic galleries will surround this core: 

- Pre-Islamic Heritage: from Khwarezm and Bactria to Sogdiana and Chach (6th century BC), exploring urbanisation, metallurgy, and Zoroastrian traditions.

- The First Renaissance (8th–13th centuries): This space captures the golden age when outstanding and inspiring scholars such as al-Khwarizmi, al-Fergani, Ibn Sina, and al-Biruni transformed mathematics, astronomy, medicine, and philosophy. Their discoveries have helped future generations worldwide. 

Artifacts such as Abu Rayhan al-Biruni's globe are being reconstructed at the complex. "We know that Abu Rayhan (al-Biruni) once made a globe, but it has not survived to our time. However, the coordinates of this globe have been preserved in his works. Together with our international partners, we have now reconstructed this globe. In his writings, (he) provided the coordinates of 600 cities of his time and we have managed to include 150 of them in this reconstruction. Thus, we have been able to recreate the globe of Abu Rayhan Beruni, which was previously considered lost," disclosed the VP of the Academy of Sciences of Uzbekistan, Professor Bahrom Abduhalimov.

This gallery also reflects the role of hadith studies and Islamic theology in the development of the spiritual and intellectual life of the region. It was during this period that Imam al-Bukhari, Imam at-Tirmidhi, and other outstanding muhaddiths collected and systematised authentic hadiths of the Prophet Muhammad, laying the foundation of Islamic legal and ethical thought. 

Theologians and thinkers such as al-Maturidi developed kalam (عِلْمُ الْكَلَامِ), rational theology, harmoniously combining faith and reason. Their works contributed to the formation of a mature theological school that deeply influenced Islamic thought and remains relevant to this day. 

- The Second Renaissance (15th century): The subsequent Timurid era comes alive in a gallery recreating Ulugh Beg's observatory. Scholars and philosophers who made great discoveries in the history of civilisations are honoured. Digital projections will emphasise Samarkand's status as the intellectual capital of the Muslim world. 

- Modern New Uzbekistan is the foundation of a new Renaissance, combining heritage, the visionary reform programme of President Mirziyoyev, and a new strategic course for Uzbekistan, showcasing education, interfaith dialogue, and sustainable development. Here, history meets innovation, reflecting Uzbekistan's pioneering vision of a human-centred future.

The opening of the Center this autumn (roughly Q3-Q4) will mark the culmination of Uzbekistan's repatriation programme. This summer, fragments of 9th-century Kufic Qurans, Timurid ceramics, and original manuscripts by Ibn Sina and al-Biruni were returned from private European collections. Indian daggers, jade handles, rare Sogdian fabrics—which now form the largest collection of their kind in the world—as well as the largest collection of Central Asian coins globally, were also returned. This includes 21 fragments of fabric in various sizes, four complete caftans, and silver vessels crafted by Sogdian masters.

In May, a lost collection of Seljuk jewelry that was up for auction at Christie's was recovered from London. It included 35 items — rings, earrings, bracelets, chains and clasps. They will be displayed alongside Rumi's "Masnavi" miniatures, as well as personal clothing and weapons of the Baburids. Among them is Babur's own mantle, adorned with calligraphic inscriptions of Quranic verses.

"This step demonstrates the President's commitment to his words and promises, his consistent dedication to investing effort and attention in the development of education, science, and culture, creating new opportunities for international dialogue and cooperation," Firdavs Abdukhalikov, Director-General of the Center said. 

"This is a priceless contribution to the preservation and study of Uzbekistan's cultural heritage, which will inspire our people for centuries." 

The main museum covers about 15,000 sqm. The Center for Islamic Civilization will further house a research centre, library, restoration laboratories and a digital archive of 25,000 storage units, allowing scholars to conduct new research. 

A children's museum — the first in the region — will additionally bring history to life through "living portraits" of great thinkers. The portraits will be interactive, and able to answer visitors' questions.

Firdavs added: "The Center for Islamic Civilization (CIC) places Uzbekistan alongside the world's greatest cultural institutions. Like the Louvre in Paris, it will become a national symbol of pride and identity. Like the Smithsonian Institution in Washington, it will combine a museum and a major research complex. And like the Arab World Institute in Paris, it will present Islamic civilization as a dynamic force of creativity and dialogue. 

"But the CIC will be unique: it combines a museum, science, and innovative technologies, a library, and educational centers in a single space created in the heart of the Islamic world. It will inspire a new generation of researchers, scientists, and thinkers."  

Sara Noshadi, Head of the UNESCO Office in Uzbekistan shared that she has visited the Center several times, since 2022. "Seeing the tremendous progress and the pace of development over this period has brought me great joy," she said.

"It is truly gratifying to witness the Center entering a new phase of its activity, with new directions being opened. I believe this initiative represents an exceptional effort in Uzbekistan to integrate science, culture, and religious heritage."

World food day 2025: Bank DBS Indonesia goes for better foods and a better future

To mark World Food Day 2025, Bank DBS Indonesia worked with multiple partners to support national food security in line with this year's theme, Hand in Hand for Better Foods and a Better Future.

Head of Group Strategic Marketing & Communications PT Bank DBS Indonesia Mona Monika said, “The theme of Hand in Hand for Better Foods and a Better Future reflects the importance of collaboration in creating fair and sustainable access to food for all. As a bank committed to ESG principles, we want to act as a catalyst in strengthening the food supply chain, improving the welfare of farmers, driving the green economy in the agricultural sector, and increasing equitable access to nutritious food. This is the tangible manifestation of our sustainability pillar, Impact Beyond Banking.”

As part of its vision to be the Best Bank for a Better World, Bank DBS Indonesia believes that a sustainable food future can only be achieved through cross-sector collaboration between the financial sector, the government, businesses, communities, and the general public. Through various green financing initiatives, support for agritech startups, and social programmes held jointly with DBS Foundation, Bank DBS Indonesia plays an active role in building a resilient, inclusive, and competitive food system:

- The FEAST (Flores Empowerment for Agricultural Sustainability and Transformation) programme, held in collaboration with Yayasan Humanis dan Inovasi Sosial, equips farmers with climate-smart agricultural practices, financial literacy, and nutritional knowledge. A total of 40 village champions have been trained to assist 1,600 smallholder farmers (half of them women) in eight districts in Flores, Nusa Tenggara Timur (NTT). 

They take part in 50 climate field school sessions and test climate-smart agriculture methods in demonstration farm plots. Additionally, the programme provides nutrition education for 4,000 farming families to improve their knowledge and nutritional status. The programme will be expanded to all districts in Flores within the next 2-3 years.

- Green financing in the form of blended finance for Adena Coffee to nurture coffee farmers and increase coffee bean production in a sustainable manner, as well as to develop software to support compliance with the European Deforestation Regulation (EUDR). 

In addition, Adena Coffee will establish a Multipurpose Production and Training Centre by building new wet mill and fermentation facilities to train farmers in the proper application of wet processing and fermentation methods, ensuring consistent and high-quality yields; and conduct six capacity-building sessions for 500 small-scale coffee farmers in Gayo, Flores, Bali, and West Java.

- The Food Rescue Warrior programme, held in collaboration with FoodCycle Indonesia and DBS Foundation. From January 2024 to September 2025, the programme saved 1.36 million kg of surplus food from 155 partner hotels, restaurants, and plantations. Of the total, more than 600,000 kg was edible and packaged into more than 3 million food packages for 128,000 recipients. 

The programme succeeded in reducing the food insecurity rate from 77% to 36% in 17 months, according to a FoodCycle survey of a sample of recipients. Additionally, more than 700,000 kg of food waste were processed into animal feed and compost fertiliser at the urban farm developed under this programme. Education on the circular food system was also actively provided for the community at the urban farm to raise awareness about sustainable food security.

Food waste management is also very crucial for food sustainability.

- Magalarva, a social impact company and a recipient of the DBS Foundation Grant 2023, has made a significant impact on food waste management over the past two years. Food waste processing volume increased to nearly 3,000 tonnes per year, double the amount of the previous year. This has also reduced greenhouse gas (GHG) emissions by 9,000 tonnes.

Founder & CEO Magalarva Rendria Labde said, “Since partnering with DBS Foundation, we have been able to accelerate the transformation of our waste management system. We have now increased our food waste processing capacity by 66%, improved efficiency through waste sorting units and a new operational fleet, and opened up export opportunities to more countries. The impact is being felt by both the environment and the economy.”

ESG stands for environmental, social, and governance.

UNESCO publishes research on AlUla’s documentary heritage

As part of the Memory of the World (MoW) Programme’s project to preserve documentary heritage in AlUla, implemented in partnership with the Royal Commission for AlUla, UNESCO has published a landmark academic study examining how AlUla’s unique documentary heritage fosters intercultural dialogue within the Arab Region and beyond.

AlUla has been a site of cultural exchange for millennia, as a continually-inhabited social and commercial hub, and as a gathering point along the historic pilgrimage route. In alignment with the region’s historic cultural revival under UNESCO’s partnership with the Royal Commission for AlUla (RCU), the MoW Programme publication is a resource for the ways in which AlUla can serve as a blueprint for dialogue and a cross-cultural understanding of our shared history.

Source: UNESCO/Studio Ketchup Mayo, attribution 3.0 IGO (CC BY 3.0 IGO). AlUla community member (right) with UNESCO staff (left) in Jabal Ikmah, AlUla.

Dr Nour Allah Munawar's Documentary Heritage for Intercultural Dialogue: A Case Study of AlUla, Saudi Arabia explores the deep link between the ancient documentary heritage sprawling across the walls of AlUla’s mountains and its capacity to foster cross-cultural understanding, affirm cultural identity and serve as a powerful resource for dialogue among diverse communities. 

Situated along the historic incense route, AlUla is home to thousands of inscriptions in ancient languages that help trace the evolution of the Arabic alphabet. Its ‘open-air library’, Jabal Ikmah, contains the largest concentration of well-preserved Dadanitic and Lihyanite inscriptions found anywhere in the world, and in providing a gateway into ancient life by illuminating our understanding of the history of the Arabian Peninsula. 

Jabal Ikmah’s inscriptions have since entered UNESCO’s Memory of the World (MoW) International Register as an internationally significant item of documentary heritage.

Dr Munawar’s study places particular emphasis on the voices of AlUla’s local community, incorporating their perspectives through focus group discussions that achieved gender balance and included a majority of participants under the age of 35. 

The publication also incorporates insights of heritage professionals through in-depth interviews, merging international understanding with the wisdom of community custodians who have played a key role in enabling the identification and preservation of, as well as access to, AlUla’s documentary heritage.

The research explores and proposes the empowerment of community members as stewards and custodians of documentary heritage while recommending the integration of a documentary heritage education into formal pedagogical curricula across KSA, as well as informally through community engagement, public events, and cultural festivals to educate the general public.

The research also considers the harnessing of innovative technologies as crucial for using documentary heritage for intercultural dialogue. High-resolution 3D scanning and photogrammetry can digitally preserve fragile rock inscriptions and artefacts, especially those at risk from environmental decay, while virtual and augmented reality technologies can recreate historical documentary heritage sites to bridge distances and enable intercultural appreciation of documentary heritage.

For awareness and enhancing engagement with documentary heritage in the Arab region among both the general public and heritage professionals, the publication advocates for the promotion of knowledge production on documentary heritage in the region, including through initiatives for Arabic-language research, the translation of key documentary heritage and MoW Programme resources, the development of digital platforms, and other activities. 

Established in 1992, UNESCO’s MoW Programme helps safeguard documentary heritage throughout the world, facilitating its preservation, promoting access to it, and enabling awareness of its significance.

Indonesia Shariah Economic Festival 2025 increases exposure for startups, designers

The Indonesian National Committee of Sharia Economics and Finance (Komite Nasional Ekonomi dan Keuangan Syariah or KNEKS), together with the Department of Economy and Shariah Finance at Bank Indonesia (DEKS), have held a Halal Startup Demo Day (HSDD) as part of Indonesia Shariah Economic Festival (ISEF) 2025. ISEF is Indonesia's largest annual shari'ah economic and financial event. 

Themed Dare to Jumpstart Halal Industry With Ambition, HSDD 2025 brought 20 halal industry startups, investors, mentors, and stakeholders together.

Rp21 B has been set aside for selected startups. Potential business partners and committed investors include the Indonesian Muslim Entrepreneur Community (Komunitas Pengusaha Muslim Indonesia or KPMI), the Gaido Group, Equitree, PUM Netherlands, the Rahmania Foundation, HASAN Venture Capital, BTPN Syariah Venture Capital, and LBS Urun Dana. Other participants included the Indonesian Fintech Association (AFSI), the Venture Capital Association for Indonesian Startups (AMVESINDO), Gobi Partner, and World Startup.

"On behalf of Bank Indonesia, we express our highest appreciation and appreciation to the KNEKS and all parties participating in the implementation of this activity—from the organising partners, supporting institutions, to startups that today will showcase their work and innovation in the halal industry sector," said Yono, Deputy Director of Economics and Finance of Sharia at Bank Indonesia in a statement in Bahasa Indonesia*.

“In line with the great vision of Asta Cita Indonesia, Bank Indonesia is committed through this activity to supporting the acceleration of the national halal startup ecosystem in order to cement Indonesia as the world’s halal industry hub through matching innovators with investors, and opening wider access to Islamic financing. This activity is also a platform to strengthen the halal value chain and nurture superior startups that are ready to compete globally.”

“The Ministry of Industry is committed to supporting the growth of technology startups in the industry through the Startup for Industry programme. This programme is a forum for coaching and acceleration for startups to collaborate with the industrial sector, present technology-based solutions, and strengthen the national supply chain," said Dini Hangandari, Director of IKM, LMEA, Ministry of Industry.

The 20 startups came from a variety of sectors, including food and beverage, fashion, health, shari'ah finance, Muslim-friendly tourism, renewable energy, as well as media and recreation.

The Director of Business and Entrepreneurship of Sharia at KNEKS, Putu Rahwidiyasa, said that HSDD 2025 is an important part of KNEKS' commitment in driving the growth of the innovation-based sharia economy. “We want to help startups be ready to compete in the domestic and global markets by taking advantage of funding opportunities and a wider network,” he said.

HSDD 2025 is here to address the obstacles faced by many startups in obtaining adequate access to funding, networking, and business assistance. Through this activity, startups are expected to gain access to funding, guidance from experienced mentors, and expand the network with investors, buyers, and strategic partners. The programme also provides mentoring through the development of pitch decks.

Wahyu Wicaksono, Director of Applications, Ministry of Creative Economy, Indonesia, shared that the development of halal-based creative economic startups has been prioritised. "Through digital technology and creativity, startups can deliver halal products and services that are more inclusive, competitive, and have a broad economic impact,” he said. 

“Continuous collaboration between stakeholders — governments, financial institutions, investors, academia, and the entrepreneurial community. The hope is that this activity will give birth to a generation of halal startups that are innovative, competitive, and make a real contribution to the progress of the nation," said imbuh Irwansyah, Asdep Incubation And Digitalization of Entrepreneurial Deputy for Entrepreneurship, Ministry of Micro, Small and Medium sized Enterprises (MSMEs). 

"HSDD 2025 is expected to be a strategic meeting point that strengthens the synergy between stakeholders and opens up greater opportunities for halal startups in Indonesia," Putu added.

The Indonesia International Modest Fashion Festival (IN2MOTIONFEST) 2025, also part of ISEF 2025, showcased 1,785 modest fashion works, highlighting the richness of Indonesian wastra***.

Organised by the Indonesian Fashion Chamber (IFC) together with Bank Indonesia, IN2MOTIONFEST is committed to optimising the use of Indonesia's rich cultural diversity and wastra in sustainable modest fashion products. This approach aligns with the implementation of a green economy within the Indonesian modest fashion industry, positioning it as a strong player in the global market.

Themed One Vision, One Movement: Advancing Indonesia Modest Fashion Through Synergy & Collaboration the event emphasised collective action, cross-sector collaboration, and synergy among industry players to enable Indonesia's modest fashion to dominate the domestic market and compete globally.

A wide variety of wastra from across Indonesia—including batik, songket, ikat weaving, ATBM (non-machine weaving), lurik, tapis, sasirangan, jumputan (tie-dye), embroidery, knits, and ecoprints—were showcased in diverse modest fashion styles. These pieces were designed by members of IKRA (Indonesia Sharia Creative Industry), fashion brands, MSMEs, and fashion school students.

Source: IFC. The Grand Finale on Opening Day at IN2MOTIONFEST 2025. Models wearing Khanaan fashion.

IN2MOTIONFEST 2025 featured a fashion show and trade exhibition, presented modest fashion collections from 214 designers and brands, both local and international, along with 100 wastra artisans participating in the Wastra Business Matching programme. This year, IN2MOTIONFEST collaborated with 11 international designers from Thailand, Bangladesh, the Philippines, Malaysia, Turkey, Italy, Spain, Australia, and the UAE (Dubai).

Explore

View catwalk videos from the at https://www.instagram.com/in2motionfest/?hl=en

*Parts of this content came from an e-translated press release and may be inaccurate as a result.

**Asta Cita refers to the eight aspirations conceived by Indonesian President Prabowo Subianto towards achieving the vision of a Golden Indonesia in 2045. The aspirations cover welfare, economic resilience, food and energy sovereignty, education and human resource development, and strong national defence.

***Wastra refers to traditional Indonesian textiles, such as batik and tenun ikat, which come with a rich cultural heritage, and are associated with complex symbolism and quality craftsmanship.

UAE citizens, residents now able to invest in treasury sukuk

The UAE has made shari'ah-compliant treasury sukuk (T-sukuk), which were previously available only to institutional investors, accessible to all citizens and residents in the UAE, the Emirates News Agency (WAM) has reported.

Retail Sukuk, a new initiative from the UAE Ministry of Finance (MoF), enables individual investors to invest in shari'ah-compliant, government-backed T-sukuk through fractionalised digital investment platforms operated by participating banks in the country.

The initiative seeks to promote financial inclusion and expand the investor base for government financial instruments by enabling citizens and residents to invest easily and securely in line with Islamic principles. It also seeks to stimulate long-term investment in T-sukuk as a secure and sustainable savings tool. 

Retail sukuk are denominated in AED and linked to government-backed T-sukuk already traded in the market and designated for institutional investors. Investments of AED4,000 and up are accepted.

HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy PM and Minister of Finance of the UAE was quoted by WAM: “The Retail Sukuk initiative reflects the UAE’s vision and its leadership’s directives to empower the community and enhance participation in the national development journey through financial policies that prioritise human wellbeing. Launched within the framework of the Year of Community, the initiative opens new horizons for citizens and residents to contribute to shaping the future through secure, government-backed investment instruments.”

He added that the MoF seeks to "transform investment in government bonds into an accessible, comprehensive digital experience, enabling all segments of society to access high-quality financial instruments that were previously limited to institutional investors" with the initiative. "This represents a strategic step towards advancing financial inclusion and promoting a culture of long-term savings, ensuring the sustainability of the UAE’s financial resources and supporting development goals across various sectors,” he added.

Mohamed bin Hadi Al Hussaini, UAE Minister of State for Financial Affairs said: “The Retail Sukuk initiative represents a qualitative leap in the development of government investment instruments, enhancing individual participation in economic growth and providing a direct avenue to contribute to the national development journey. This initiative realises the Ministry of Finance’s vision of building an innovative financial environment that provides secure, sustainable investment solutions that benefit the entire community.”

He added, “The initiative aligns with the objectives of the Year of Community by promoting responsible saving habits and increasing financial awareness across all segments of society. It also reflects the spirit of partnership between the public and private sectors in fostering the values of giving and active economic participation, contributing to building a balanced, sustainable economy that serves future aspirations.”

Details

Investment in retail T-sukuk will be available through participating banks, with the name of the first bank to be announced on 3 November 2025. 

Development partnership for KSA's Ministry of Culture and Royal Commission for AlUla

The KSA Ministry of Culture (MoC) and the Royal Commission for AlUla (RCU) have signed a Memorandum of Understanding in Riyadh during the Cultural Investment Conference to strengthen cooperation in culture, heritage and development. 

Source: PRNewsfoto/Cultural Investment Conference. The agreement was signed by KSA Vice Minister of Culture Hamed Fayez (right) and RCU CEO Abeer AlAkel (left), marking a key step towards positioning AlUla as a global cultural destination.

HE Vice Minister of Culture Hamed Fayez affirmed that this agreement drives forward the partnership between the Ministry of Culture and RCU, paving the way to significantly enhance the presence of Saudi cultural identity in AlUla. He noted that AlUla seamlessly blends diverse natural landscapes with authentic heritage and thousands of years of history. It stands as an open-air museum and a powerful reflection of the human civilisations that have flourished across KSA land.

Abeer AlAkel, CEO of RCU, stated that the agreement significantly strengthens RCU's partnership with MoC and builds upon previous successes in areas of shared cultural interest. She added that this agreement represents a fundamental step for cultural development in AlUla, aligning with the cultural ambitions of Saudi Vision 2030, and will contribute to the integration of expertise and innovations at both national and global levels, empowering the cultural and knowledge-based economy. 

The agreement outlines broad areas of cooperation, underscoring the joint development of cultural infrastructure in AlUla. This includes long-term planning, addressing development needs, and implementing initiatives to ensure the continuity and sustainability of cultural activities across the arts and heritage sectors.

It also supports the coordination of cultural events, festivals and initiatives across a wide spectrum of disciplines, including heritage, cinema, music, museums, culinary arts, visual arts, architecture, design and libraries. The agreement encourages closer cooperation between cultural institutions and RCU to facilitate the exchange of expertise and enhance the quality and diversity of cultural content in AlUla.

In addition, the MoC and RCU will support the development of community-focused, educational and professional programmes aimed at nurturing talent and enabling broader participation in the cultural sector at local, national and international levels. The agreement also seeks to stimulate the cultural economy, attract investment into creative industries, and support cultural entrepreneurs in establishing ventures in AlUla, driving inclusive economic growth and generating high-value employment anchored in creativity and knowledge.

The MoC and RCU have a strong history of collaboration. Successful initiatives include the Wadi AlFann Dialogue, the AlUla Future Culture Summit and the 2023 AlUla World Archaeology Summit. The two entities have also jointly supported the Prince Mohammed bin Salman Project for the Development of Historical Mosques and have worked together to expand cultural programming across AlUla. The scope of the agreements extend to initiatives supporting the growth of public and private cultural schools in AlUla.

The Cultural Investment Conference highlights culture as both a pillar of national identity and a promising investment opportunity. The annual two-day event positions culture as a sustainable economic engine by supporting innovation, fostering entrepreneurship, while serving as a meeting point to exchange expertise, explore innovative financing tools, and build international partnerships that advance sustainable cultural investment and the growth of creative industries.