Malaysia, Bangladesh further healthcare cooperation

The Malaysia Healthcare Travel Council (MHTC) will be working with Bangladeshi health authorities, healthcare institutions and professionals throughout MYMT2026 to establish durable, mutually-beneficial partnerships that strengthen healthcare cooperation between Malaysia and Bangladesh.

Under Malaysia Year of Medical Tourism 2026 (MYMT2026), themed Healing Meets Hospitality, MHTC has plans to expand its engagement in Bangladesh. Some approaches include potential healthcare awareness and educational programmes, participation by Malaysian healthcare institutions in relevant initiatives, specialist consultation and second-opinion programmes, and government-to-government and institutional engagements.

A delegation from MHTC, led by HE Mohd Shuhada Othman, High Commissioner of Malaysia to Bangladesh, recently met with HE Sardar Md Sakhawat Husain, Honourable Minister of Health and Family Welfare of Bangladesh to further advance healthcare cooperation between Malaysia and Bangladesh.

The engagement was part of MHTC's working visit and engagement in Bangladesh from 17 to 20 August 2026 and builds on the momentum generated by the official visit of the Prime Minister of the People's Republic of Bangladesh to Malaysia on 22 June 2026. During the June visit, the leaders of both countries had been optimistic about expanding bilateral cooperation in the healthcare sector, particularly in conjunction with MYMT2026.

The current meeting explored avenues for closer collaboration in healthcare and medical tourism, while further strengthening the longstanding and friendly relations between Malaysia and Bangladesh. This commitment is underpinned by growing demand, MHTC said. Healthcare travel revenue from Bangladeshi healthcare travellers to Malaysia rose from RM2.2 million in Q125 to RM2.7 million in Q126, representing a 22.7% increase and highlighting the growing potential of Bangladesh as an important market for Malaysian healthcare.

"Malaysia and Bangladesh have built more than five decades of partnership, and in June our leaders agreed to extend that partnership into healthcare. Our responsibility now is to translate that commitment into practical cooperation, not only in healthcare travel, but in the exchange of skills, standards and knowledge that strengthens both our systems," said Dato' Suriaghandi Suppiah, CEO, MHTC.

The Honourable Minister emphasised the importance of making Malaysian healthcare more accessible and affordable to the wider population in Bangladesh, including through competitive pricing and, where possible, special packages. He also stressed the importance of establishing clear and effective communication channels between patients and hospitals to ensure a smooth healthcare journey. Malaysia's combination of medical excellence, accessibility, and a Muslim-friendly environment, supported by high safety standards, specialised healthcare services, and Malaysian hospitality, provides a strong foundation for meeting these needs, he said.

Malaysia's established healthcare ecosystem, regulated under the Ministry of Health Malaysia, together with its patient-centred approach, further provides patients and their families with confidence throughout their healthcare journey.

Representing Irving Aviation, MHTC's local partner in Bangladesh, HBM Lutfur Rahman highlighted the benefits that Malaysian healthcare can offer Bangladeshi patients, including access to experienced specialists and established medical institutions, as well as Malaysia's Muslim-friendly environment, halal food, and renowned hospitality.

Chipotle to open first restaurant in KSA

Chipotle Mexican Grill is to open its first restaurant in KSA later this month in partnership with Alshaya Group, a leading international franchise retail operator. Located at Sidra, the premier dining destination in Riyadh next to the Granada Mall, the restaurant marks another milestone in the company's international growth strategy.

The Riyadh restaurant will serve Chipotle's menu of burritos, bowls, tacos, quesadillas and salads, all made with responsibly-sourced, classically-cooked real ingredients and prepared in an open kitchen. Guests will be able to customise their meals with a choice of proteins, rice, beans, salsas, toppings and Chipotle's signature hand-mashed guacamole.

"We're pleased to introduce Chipotle to guests in Saudi Arabia for the first time," said Nate Lawton, Chief Business Development Officer at Chipotle.

"Expanding into the kingdom advances our international growth strategy and provides a compelling opportunity to serve one of the Middle East's most dynamic consumer markets. Riyadh is home to one of the region's leading shopping and leisure destinations, making it an exceptional place to introduce our brand to both local guests and international visitors. Together with Alshaya Group, we look forward to delivering the distinctive Chipotle experience and establishing a strong long-term presence in the country."

The opening builds on Chipotle's continued expansion in partnership with Alshaya Group. Since 2024, Chipotle has opened 16 restaurants across the Middle East, including seven in the UAE, seven in Kuwait and two in Qatar.

Jeff Kellen, President, Hospitality division at Alshaya Group, said: "Since its launch in the region over two years ago, Chipotle has surpassed all expectations to become one of our most loved brands. Knowing how eagerly consumers in KSA have awaited its arrival, we look forward to meeting their expectations with Chipotle's delicious, fresh, and real-ingredient menu."

Chipotle currently operates more than 4,200 restaurants worldwide and expects to open between 350 and 370 new restaurants in 2026 as it continues to execute its "Recipe for Growth" strategy, including a target of operating 7,000 locations in the U.S. and Canada.

Chipotle's business development group, led by Lawton, continues to evaluate strategic opportunities to accelerate the company's global expansion through partnerships, joint ventures and development agreements. Information on submitting a proposal can be found at https://ir.chipotle.com/contact-us

Labuan IBFC, ASA and STEP further discussion on Islamic wealth management

Labuan IBFC, the official marketing agency for Labuan International Business and Financial Centre (Labuan IBFC), together with the Association of Shariah Advisors in Islamic Finance Malaysia (ASAS) and the Society of Trust and Estate Practitioners (STEP) Malaysia recently brought together industry practitioners and experts to explore the intersection of Islamic wealth planning, estate administration and shari'ah governance, with a focus on cross-border wealth management and family governance. 

The event built on the partnership established through the memorandum of understanding between Labuan IBFC and ASAS, while further strengthening engagement with STEP Malaysia and the wider professional community. Discussions covered estate administration beyond faraid, shari'ah estate administration governance, succession planning and the use of trusts, takaful and other wealth structures. 

Ben Quah, CEO of Labuan IBFC highlighted Labuan IBFC's role as a platform for Islamic private wealth planning and cross-border wealth solutions in a keynote address. "As wealth becomes increasingly global, families need flexible solutions that offer asset protection and long-term continuity. 

"Labuan IBFC is well positioned to meet these needs while complementing Malaysia's leadership in Islamic private wealth through strong ecosystem collaboration," he said. 

The programme opened with Beyond Faraid – The Real Challenges in Muslim Estate Administration, examining practical challenges in estate administration while exploring solutions to translate succession intentions into effective estate planning. This was followed by a dialogue which explored how effective governance and proper documentation can help ensure wealth planning arrangements are implemented consistently with shari'ah requirements. 

In her welcome address, Farah Deba, Branch Chair of STEP Malaysia said: "Beyond faraid means faraid is only one part of estate planning. However, this does not mean planning beyond Islamic principles. We come from three different perspectives - where STEP speaks as advisors to families across generations while Labuan IBFC brings the international family wealth and structuring dimension, whereas ASAS brings the core shari'ah perspective." 

In her closing remarks, Yusaini Yusof, EXCO member of ASAS emphasised: "Shari'ah governance ensures that the legacy is properly structured, successfully implemented and ultimately serves maqasid shari'ah. ASAS shall continue to support this journey for greater engagements and increased professionalism of the wider shari'ah fraternity and practitioners." 

Maqasid (مقاصد) refers to goals and intents.

New at SIAL Guangzhou: a Halal Food Village

Source: Comexposium-SIAL Exhibition Company. Poster for SIAL Guangzhou.

 

New initiatives planned for SIAL Guangzhou in 2026 include a Halal Food Village, reflecting rising demand from Muslim consumers across Southeast Asia, South Asia, and the Middle East as well as growing interest from retailers and foodservice operators looking for certified products with international potential. 

The village will showcase halal-certified products from China's major Muslim food-producing regions, including Xinjiang and Gansu, alongside international exhibitors and country pavilions, including from Thailand. 

With Indonesia, Malaysia, Bangladesh, Pakistan, and Gulf markets continuing to expand on halal food imports that respond to mainstream expectations around quality, convenience and innovation, the segment is expected to become one of the exhibition's fastest-growing categories. 

According to the organisers, the halal category also overlaps with clean labelling, traceability, premiumisation and food safety, all themes that resonate beyond Muslim-majority markets. 

Taking place from 3 to 5 September 2026 at the Guangzhou Poly World Trade Center Expo, SIAL in Guangzhou arrives at a time when international buyers, distributors and retail procurement teams are looking more closely at supplier reliability, product differentiation and faster access to Asian growth markets.

The event is expanding to four exhibition halls this year, hosting over 1,500 exhibitors across 15 sectors. The ambition is to make South China’s edition a more prominent international sourcing platform, especially for buyers seeking export-ready Chinese suppliers and Asian market insight in the same place.

Details

SIAL Guangzhou 2026 | 3–5 September | Guangzhou Poly World Trade Center Expo, Guangzhou, China

Register at https://dwz.cn/I3xC9VAY

 

Uzbekistan's heritage takes centrestage at the first International Forum of Islamic Civilization

The President of Uzbekistan, Shavkat Mirziyoyev, has called for greater investment in education, stronger scientific cooperation, and the promotion of religious tolerance as essential responses to rising global conflict, extremism, and Islamophobia. Mirziyoyev made the remarks at the first International Forum of Islamic Civilization in Uzbekistan on July 7.

The forum, organised by the Center of Islamic Civilization in Uzbekistan, reflects Uzbekistan's growing role as a centre of Islamic scholarship and intercultural dialogue while advancing the concept of Islamic enlightenment. Islamic enlightenment was first introduced by President Mirziyoyev during the 72nd Session of the United Nations General Assembly in 2017.

In a message read at the Forum's opening ceremony, President Mirziyoyev noted that despite unprecedented scientific and technological progress, the world is facing growing geopolitical tensions, declining trust between nations, and increasing attempts to deepen divisions between cultures and religions. "In these challenging times, noble ideals, including Islamic values, remain the most important and enduring foundations of peace, social progress, harmony and enlightenment," he said.

The President stressed that Islam has historically encouraged scientific inquiry, education, artistic development, and intellectual discovery, rejecting the notion that religion is incompatible with modern progress. He paid tribute to the enduring contributions of Central Asia's great scholars, including Muhammad al-Khwarizmi, Abu Rayhan al-Biruni, Ibn Sina, and Mirzo Ulugh Beg, whose achievements transformed mathematics, medicine, astronomy, and philosophy and continue to shape global science today.

Delivering greetings on behalf of the President of Azerbaijan, Ilham Aliyev, His Virtue Professor Dr Allahshukur Pashazade, Chairman of the Caucasus Muslims' Board, Chairman of the Qazi Council (Fetwa institution) of the CMB, and Sheikh ul-Islam of Caucasus, described Uzbekistan as "a beacon of Islamic knowledge for centuries" and praised the country's efforts to preserve and promote its rich intellectual heritage.

Themed The Path of Peace, Tolerance and Enlightenment, the forum brought together more than 450 participants from over 50 countries and examined the contribution of Islamic civilisation to peace, tolerance, enlightenment, and intercultural dialogue. It also underscores Uzbekistan's commitment to preserving its intellectual heritage while expanding international cooperation in science, education, and cultural exchange.

In 2017, President Mirziyoyev said that the principles of peace, tolerance, and enlightenment at the heart of Islam are universal values capable of uniting societies rather than dividing them. He called for combating extremism and Islamophobia through enlightenment, science, and culture, laying the foundation for a state policy based on the principle of Enlightenment Against Ignorance.

Over the years, Uzbekistan has established a modern cultural, educational, scientific, and academic infrastructure that supports the comprehensive study, preservation, and promotion of the intellectual heritage of Islamic civilisation. The cornerstone of these efforts is the Center of Islamic Civilization in Uzbekistan, which brings together research, museum activities, educational initiatives, and international cooperation within a single complex.

"As Forum participants have noted, the Center of Islamic Civilization in Uzbekistan is becoming a platform for shaping a new international agenda for humanitarian cooperation based on knowledge, enlightenment, mutual respect, and trust. The Forum concluded with agreements to launch numerous joint research initiatives, international expeditions, educational programmes, digital manuscript preservation projects, and other major cultural initiatives aimed at strengthening peace, mutual understanding, and dialogue among civilisations," said Dr Firdavs Abdukhalikov, Director of the Center of Islamic Civilization in Uzbekistan.

During the event, delegates discussed preserving and studying Islamic manuscripts and cultural heritage, applying digital technologies and AI to historical research, expanding international academic cooperation, and exploring the relevance of Islamic intellectual traditions in addressing today's global challenges.

The Forum also served as a platform for presenting new publications, launching major cultural and scientific initiatives, signing international cooperation agreements, and adopting the Declaration of the First International Forum of Islamic Civilization,, which outlined a shared vision for future collaboration in promoting the universal values of Islamic civilisation.

Among the Forum's flagship events are international conferences dedicated to the scholarly legacy of Imam al-Bukhari, Imam al-Maturidi, and Imam al-Tirmidhi, highlighting the influence of their works on the development of Islamic thought and world civilisation.

AAOIFI FAS 54 “Direct Costs: Determination, Attribution and Reimbursement” approved

At its 46th accounting board meeting in Bahrain in June, the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) discussed standard developments including the public consultation on the exposure draft for FAS 54 “Direct Costs: Determination, Attribution and Reimbursement”. 

The standard sets out the accounting and financial reporting principles for the determination, attribution and reimbursement of direct costs incurred by Islamic financial institutions with regard to the shari’ah-compliant contracts and arrangements (and to other institution in connection with their respective Islamic finance transactions). 

The standard has been approved in principle, and is expected to be issued within this year, after completion of the due process. 

Hamad Al Oqab, Chairman of the AAOIFI Accounting Board stated: “The focus of the board has been to facilitate the Islamic financial institutions in implementation of consistent accounting practices with more transparency, in line with shari’ah principles and rules. I believe that FAS 54 will bring greater harmony in financial reporting practices and, additionally, will help improving the level of compliance with Shari’ah principles and rules across the industry”.

iVisa helps simplify umrah procedures globally

According to iVisa, KSA recorded 904,000 pilgrims at Masjid al-Haram in a single day on February 21, 2026 - nearly double the previous record. The US-based company noted that the numbers are still climbing despite global uncertainty and confusion about the logistics of travelling to KSA. 

"Between multiple visa routes, nationality-specific rules, residence permit requirements, Hajj blackout windows, and an  Internet full of blogs, forums, and AI tools offering different answers, many pilgrims don’t know where to start," the company stated.

Umrah pilgrims need to know: 

- Which visa applies to them

- Which route is most convenient for their specific situation

- Is their nationality eligible 

- Which dates are available

The information exists, it’s just scattered, frequently outdated, and not always tailored to individual circumstances, iVisa explained. The situation has inspired iVisa to launch a free 2026-2027 Umrah Visa Guide. 

The regularly-updated guide is built by visa experts, and designed to give every pilgrim a clear answer based on who they are and when they’re travelling, iVisa said.

“Millions of people are planning umrah this year and they deserve accurate, straightforward information,” said Luis Enrique, Head of Fulfilment at iVisa. 

“The challenge isn’t just the visa process itself; it’s that the guidance available online is often inconsistent or out of date. As visa experts, we wanted to create something pilgrims can actually rely on.”

The guide covers eligibility by nationality and residency status, a full cost calculator, realistic processing timelines including Ramadhan windows, a clear comparison of the umrah visa and KSA tourist e-visa, and all key season dates for 2026-2027. 

For pilgrims from India, Pakistan, Bangladesh, and several other countries, it also walks through the Masar system - a step that requires a licensed agent and typically takes five to 10 business days.

“Whether it’s your first umrah or your tenth, the rules can change season to season,” added Enrique. 

“We want pilgrims focused on their journey, not lost in paperwork.”

Details 

The iVisa 2026-2027 Umrah Visa Guide is available at umrah.ivisa.com

Wego to highlight Azerbaijan's travel experiences to MENA audience

Wego, the number 1 travel app and the largest online travel marketplace in the Middle East and North Africa (MENA), has partnered with Azerbaijan Tourism Board to spotlight Azerbaijan's evolving appeal among travelers from the MENA region through a destination campaign focused on culture, nature, leisure, and seasonal experiences.





Baku



As travelers across the region continue to seek destinations that combine convenience, variety, and immersive experiences, Azerbaijan is increasingly attracting interest for its mix of contemporary city life, mountain landscapes, wellness retreats, culinary experiences, and layered cultural heritage.



Through this collaboration, Wego and the Azerbaijan Tourism Board will showcase different sides of the destination, from the vibrant atmosphere of Baku and the historical character of Shaki to the scenic mountain escapes of Shahdag and the country's nature-focused retreats. The campaign will also highlight Azerbaijan's culinary scene, local traditions, outdoor activities, and family-friendly experiences that resonate with travelers across the GCC and wider MENA region.

Mamoun Hmidan, Chief Business Officer at Wego, said: "Azerbaijan continues to attract travellers from across MENA thanks to its unique blend of cultural familiarity, diverse experiences, and ease of travel. From vibrant city experiences in Baku to scenic mountain landscapes and wellness escapes, the destination offers something for every type of traveller while maintaining a sense of connection and comfort that many visitors from the region value."

The campaign will be activated across Wego's digital ecosystem through curated destination content, storytelling-led campaigns, influencer collaborations, and travel inspiration tailored to evolving traveler interests and seasonal travel demand.

Florian Sengstschmid, CEO of the Azerbaijan Tourism Board, commented: "We are pleased to collaborate with Wego to further strengthen Azerbaijan's presence among travelers from the Middle East and North Africa. The market continues to show strong interest in destinations that combine culture, nature, leisure, and accessibility. Through this partnership, we aim to bring greater visibility to the unique experiences visitors can enjoy across Azerbaijan throughout the year."

AAOIFI shari’ah standards to be translated into Uzbek

The AAOIFI Centre for Islamic Finance Development and Mezon Kengashi, the shari’ah-based financial advisory body in Uzbekistan, have signed an agreement to produce the official Uzbek-language translation of the AAOIFI Shari’ah Standards.

Signed May 2026, the project covers the latest official Arabic edition of the standards — 61 issued shari’ah standards across approximately 1,200 pages — translated directly from Arabic into Uzbek. The translation will be carried out in coordination with AAOIFI and in accordance with its authorisation and quality-review procedures.

The agreement builds on the strategic partnership established between AAOIFI and Mezon Kengashi in December 2025, under which the two institutions cooperate on training, professional certification, regulatory standardisation and knowledge dissemination.

The initiative comes at a pivotal moment for Uzbekistan’s financial sector. In March 2026, the President of Uzbekistan signed Law No. O’RQ–1126, On Amendments and Additions to Certain Legislative Acts of the Republic of Uzbekistan Aimed at Introducing Islamic Banking, which establishes a formal regulatory and licensing framework for shari’ah-compliant operations and entered into force on 29 June 2026.

The availability of authoritative AAOIFI standards in Uzbek is essential to the effective and consistent implementation of this framework. An authoritative Uzbek edition will give regulators, the Central Bank of the Republic of Uzbekistan, commercial banks, legal professionals, educators and finance specialists direct access to the global reference framework that governs Islamic financial products. It will support:

- Consistent application of shari’ah standards across the national market

- Incorporation of the standards into regulatory and supervisory practice

- Alignment with internationally-recognised benchmarks

- Development of local expertise, including the opportunity for Uzbek specialists to pursue internationally-recognised AAOIFI professional certifications in their own language

The translation will be delivered over approximately six months by a multidisciplinary team of shari’ah scholars, professional translators, editors and legal and financial reviewers, several of whom hold AAOIFI professional qualifications (CSAA, CPSS, CIPA). 

The work extends beyond linguistic translation to include shari’ah terminology harmonisation, legal and regulatory review, structured editorial review and quality assurance, ensuring fidelity to the original Arabic text and consistency of terminology throughout.

“The AAOIFI shari’ah standards are the foundation of trust in Islamic finance. Making them available in Uzbek removes one of the last structural barriers to building a credible Islamic finance ecosystem in our country, and equips our regulators, banks and specialists with an authoritative reference as the new legislation takes effect,” said Muzaffar Khusnidinov, CEO, Mezon Kengashi.

“This agreement reflects the Centre’s mission to support the adoption and localisation of AAOIFI standards across the CIS and Central Asia. Uzbekistan is one of the region’s most promising markets for Islamic finance, and an authoritative Uzbek edition of the standards is an important step toward its sustainable, well-regulated development,” said Amier Al Moussa, Director, AAOIFI Centre for Islamic Finance Development.

OMFIF: The case for tokenised sukuk

Investing in energy diversification in ASEAN and reconstruction in the GCC requires market infrastructure that can deliver trusted capital, noted Mariam Khan an Economist at OMFIF in an OMFIF commentary. 

According to Khan, innovations in digital finance can provide a mechanism to meet this need when paired with traditional capital market instruments such as sukuk. 

"Already tested by the private sector, tokenised sukuk can offer a potential means for countries to mobilise capital for reconstruction and recovery, while simultaneously fostering deeper, more resilient local capital markets over the longer term," she noted in the commentary.

Khan suggested that with maturity, tokenisation can enhance the sukuk market." "Tokenisation is often used to fractionalise larger instruments, lowering the minimum denomination and thus enabling broader access. There is also a community, though fairly small at present, that may be inclined to buy securities available on a Blockchain but not through traditional markets," she said.

Her longterm vision is that smart contracts can automate the lifecycle processes of the instruments, making them cheaper and easier to issue. Tokenised sukuk designed to be interoperable with existing markets might well end up enhancing liquidity, while a post-trade settlement system could be more efficient than traditional systems.

Khan's predictions are influenced by how sukuk are now an investment-grade asset class in their own right, with a wide international investor base, particularly in GCC and ASEAN economies.

"In times of geopolitical stress, sukuk markets have remained resilient," she pointed out.

But regulation and standardisation will be  challenges, Khan added. "Financial architecture matters as much as the instrument and the investor," she said. 

Wego, KSA Ministry of Hajj and Umrah to transform the digital umrah experience

- Wego is committed to simplifying the travel experience for pilgrims worldwide 

- It is among the first platforms to enable electronic umrah visa issuance 

Source: Wego. Wego Partners with the KSA Ministry of Hajj and Umrah.

Wego, the No. 1 travel app and the largest online travel marketplace in the Middle East and North Africa (MENA), has announced a strategic partnership with the KSA Ministry of Hajj and Umrah to introduce a fully integrated digital platform designed to enhance and simplify the umrah for pilgrims worldwide. 

The collaboration marks a significant step in advancing KSA's vision of delivering a seamless, digitally-enabled pilgrimage experience, Wego said. The new platform is designed to redefine how umrah services are accessed and delivered. The agreement brings together Wego's travel technology and extensive regional reach with the kingdom's trusted network of licensed umrah service providers to offer pilgrims a streamlined, end-to-end booking experience. 

Specifically, Wego will leverage its expertise in travel search, payments, and digital distribution to manage marketing, sales, and customer transactions, while trusted, licenced umrah service providers focus on delivering high-quality, on-ground services. Through a single, intuitive flow, travellers can access flight bookings, verified hotel bookings, licenced ground services, and facilitated umrah visa request submissions, ensuring a more transparent, efficient, and reliable journey from planning to arrival. All visa issuance is conducted by the relevant authorities in KSA.

The KSA Ministry of Hajj and Umrah plays a key regulatory and supervisory role in overseeing the umrah ecosystem, ensuring compliance, quality standards, and a consistent experience for pilgrims, while licensed operators are responsible for service delivery and operational execution.

This model enhances operational efficiency while ensuring consistency and accountability across the entire pilgrim experience. All transactions are securely processed in Saudi riyals at the time of booking, reinforcing transparency and eliminating unexpected on-ground costs. 

Mamoun Hmidan, Chief Business Officer at Wego said: "Through our collaboration with the Saudi Ministry of Hajj and Umrah, we are enabling a more seamless and transparent umrah journey powered by technology. By integrating flights, facilitated visa request processes, verified accommodations, and licensed ground services into one unified platform, we are enhancing the overall pilgrim experience while creating new growth opportunities for umrah service providers across Saudi Arabia."

The platform introduces three service tiers:

Essential

Core services including airport reception and dedicated on-ground support. 

Standard

Enhanced convenience with intercity transportation between key locations such as Makkah and Madinah. 

Premium

A more personalised journey featuring private transfers, curated sightseeing experiences, and round-the-clock support.

To further strengthen trust and reliability, the platform incorporates clear consumer protection policies, including flexible booking modifications and refund eligibility under defined conditions. These measures are designed to provide peace of mind while maintaining operational efficiency for service providers.

Additionally, multilingual support capabilities and dedicated customer service channels ensure accessibility for pilgrims from diverse global markets, reinforcing Wego's commitment to inclusivity and service excellence.

As part of this initiative, Wego is inviting qualified umrah service providers to participate in the platform.

Details

The platform www.wego.com/umrah will be ready for launch in June 2026, aligning with the beginning of the umrah season.

BtcDana launches Eid al-Adha community support initiative in Pakistan

UAE-headquartered BtcDana, a contract for difference (CFD) broker, has announced a community support initiative in Pakistan following its Eid al-Adha Trading Rewards Campaign. 

In Pakistan, BtcDana's support will focus on child welfare and orphan care. These programmes provide essential resources, care, and assistance to children who require additional social support and protection. 

"Eid al-Adha is a time of generosity, compassion, and shared responsibility," said Peter Chow, founder of BtcDana. 

"Through this initiative, we are proud to channel our clients' trading momentum and our brand's commitment into meaningful, lasting support for children, education, and local communities."

Qatar's General Authority of Endowments partners with Wahed to develop AI-powered equity analysis capability

Source: Wahed. Qatar's General Authority of Endowments will work with Wahed to develop an AI-powered equity analysis platform.

Wahed, a global Islamic fintech and asset manager, has announced that its Qatar-based entity, Wahed MENA, has signed a memorandum of understanding (MoU) with The General Directorate of Endowments at the Ministry of Awqaf and Islamic Affairs in Qatar.

Under the terms of the agreement, Wahed MENA will develop and pilot an AI-powered shari'ah equity analysis and screening platform tailored to the needs of Qatar's endowment sector. Bringing together Wahed's global expertise in Islamic fintech and asset management with Awqaf's shari'ah and investment expertise in endowment oversight, the initiative is designed to build a smarter, more efficient approach to screening and analysing equities listed on the Qatar Stock Exchange (QSE) for shari'ah compliance.

The project supports Awqaf's efforts to leverage cutting-edge technologies and digital innovation in line with the Ministry's Strategic Plan (2025-2030), which focuses on digital transformation, AI technologies, institutional innovation, performance efficiency and sustainability. It also aligns with Qatar National Vision 2030 and the country's broader transition toward a knowledge-based economy.

The platform will combine AI-driven equity screening, natural language processing (NLP), financial indicator and ratio analysis, and a bilingual Arabic-English interface to support Awqaf's internal investment assessment processes. Features under development include dividend screening, historical shari'ah compliance tracking, risk-based analysis and an AI-assisted shari'ah screening support chatbot for internal use.

By combining financial data analysis, compliance monitoring and intelligent screening capabilities, the platform is expected to enhance the speed, consistency and scalability of investment analysis, strengthen governance and transparency in endowment investment management, and provide institutional-grade insights to support decision-making on robust Shariah and financial foundations.

Mohammed Abdullah Al Harmi, Director of the Investment Department at the General Directorate of Endowments, described the project as a crucial step in advancing endowment work. "This initiative ushers in a new era of endowment operations that combines shari'ah authenticity with technological innovation," he said.

"This partnership reflects our commitment to putting technology in service of Islamic finance principles," said Khalid Al Jassim, Executive Chairman of Wahed MENA.

"By working with Awqaf, we are taking a meaningful step toward making shari'ah-compliant investment intelligence more precise, accessible and scalable."

The initiative represents a significant step forward in the adoption of AI within Islamic asset management. Upon completion, the platform will serve as a model for endowment institutions, asset managers, sovereign entities and financial organisations seeking to integrate AI into shari'ah-compliant investment processes.