Taiwan plans to open a tourism office in Indonesia next year as it looks to capture a greater portion of one of the world’s fastest-growing outbound travel markets. 

More than 200,000 Indonesians visit Taiwan each year. Taiwan is looking to ramp up those figures by establishing an on-the-ground presence in Jakarta in 2026. 

Lin Hsin-jen, Taiwan's deputy representative in Indonesia, described the Southeast Asian country as a market Taiwan can no longer afford to overlook, noting that the country of 280 million is not only "the world's largest Muslim tourism market," but also one of the region's most reliably growing economies.

"For Taiwan, this is our new blue ocean for tourism," Hsin-jen told the Central News Agency (CNA). 

Taiwan also consistently ranks second or third worldwide in global surveys evaluating Muslim-friendly tourism destinations, he added.

"Visitors can shop, enjoy mountains and rivers, and experience culture - all in one place. In this way, Taiwan's tourism products are a perfect match for the Indonesian market."

Taiwan is also strengthening industrial and trade ties with Indonesia, Lu Feng-ching, director of the economic division of the Taipei Economic and Trade Office (TETO) in Indonesia, told CNA.

This year, Taiwan and Indonesia signed a design cooperation agreement aimed at expanding exchanges in exhibitions, professional judging and young designer talent, he said.

An agreement on halal promotion was also inked, enabling Taiwanese food, beverages, cosmetics and pharmaceuticals certified by the Taiwan Halal Integrity Development Association to enter Indonesia without additional certification.

This agreement not only promotes bilateral trade, but also opens doors to Middle Eastern markets, Feng-ching said.

Taiwanese businesses are expanding their footprint across Indonesia, with roughly 2,000 companies active in manufacturing and services, across shoe, textile and electronics manufacturing to financial services, telecommunications and transport.

The scope of educational exchanges with Indonesia through scholarships and specialized programs has also been broadened, according to Grace Ou, director of the education division at TETO.

The Taiwan government launched a new initiative in 2023 offering dual-degree programs, where students from Indonesia, the Philippines, Vietnam and Thailand spend two years studying in their home countries and two years in Taiwan, with the goal of enabling them to stay and work in Taiwan after graduation, she said.

Red Sea Global (RSG) has secured SAR 6.5 billion ($1.73 billion) in financing from a consortium of Saudi banks to advance the next phase of construction at AMAALA, the luxury wellness tourism destination on the kingdom’s Red Sea coast.

The facility, arranged under a mix of conventional and Islamic financing, was led by Riyad Bank as sole underwriter, with The Saudi Investment Bank (SAIB) and Bank AlBilad acting as mandated lead arrangers. The structure follows RSG’s Green Loan Framework, which aligns with global sustainability-linked lending standards.

The financing marks the latest collaboration between RSG and Riyad Bank, which also supported the company’s earlier SAR 2 billion facility for a joint venture to develop the Four Seasons Resort on Shura Island.

The deal was advised by Akin (borrower counsel) and Linklaters (lenders counsel), which structured the package under internationally recognised Green Bond and Green Loan Principles.

The transaction adds to a growing pipeline of green financing in Saudi Arabia as the country positions sustainable tourism as a key pillar of economic diversification.

Amazon UAE has teamed up with Emirates Islamic and Mastercard to launch its first credit card in the Middle East and North Africa region. 

The free-for-life card bears no annual membership fee, and will soon be available in the UAE.

The Amazon Emirates Islamic Mastercard Credit Card will earn customers value back of up to 6% on their purchases off Amazon website and up to 2.5% on purchases elsewhere. Benefits will be credited and available to redeem as a discount on their next Amazon purchase. 

“True to our commitment that Prime is the best way to enjoy Amazon, this card is no different, offering incremental savings along the way to Prime members who sign up for the card,” said Ronaldo Mouchawar, Vice President, Amazon Middle East, Africa, and Turkey.

“This collaboration with Amazon and Emirates Islamic highlights the trust in our ability to drive digital-first innovation at scale. By combining security, rewards, and convenience, the Amazon Credit Card is set to become a preferred option for consumers while supporting the UAE’s growing digital payments landscape,” said Dimitrios Dosis, President, Eastern Europe, Middle East and Africa, Mastercard. 

Qatar Financial Centre has rolled out a proof of concept to facilitate the uptake of blockchain technology across Islamic finance. 

The Qatar-based business hub will demonstrate a blockchain-based digital receipt system to bolster transparency and regulatory compliance in Shariah-compliant asset-backed finance. 

The system will operate on HashSphere, a private distributed ledger technology (DLT) built by software company Hashgraph, utilising Google Cloud infrastructure, in collaboration with QFC’s Digital Assets Lab, a statement said. 

A distributed ledger is a database shared by multiple participants in which each member maintains and updates a synchronized copy of the data. The ledger enables members to verify, execute and record transactions, obviating reliance on intermediary entities such as banks, brokers or auditors. 

QFC will offer infrastructure support and expertise to guide the use case development, Blade Labs will lead the develop of the receipt system, while AlRayan Bank will validate the system’s functionality and explore commercialisation pathways. 

“Through our Digital Assets Lab, we’re proud to facilitate this pilot as a step forward in exploring how blockchain can bring greater efficiency and scalability to Shariah-compliant financial products,” said Yousuf Mohamed Al-Jaida, chief executive officer at QFC. 

“The Digital Receipt System POC will showcase that blockchain, smart contracts, and global identity standards can address the operational bottlenecks that currently prevent Islamic finance institutions from scaling certain Shariah-compliant asset-backed products,” said Sami Mian, CEO, Blade Labs. 

In 2023, QFC signed an agreement with blockchain technology platform to collaborate on blockchain and digital asset initiatives in the financial industry.
 

Malaysia's Zetrix AI Bhd has unveiled a Shariah-aligned large language model to offer Shariah-compliant guidance and support across several domains, including finance, law, healthcare, education, and daily lifestyle. 

The NurAI platform aims to provide culturally relevant, faith-compliant assistance for Muslim-majority markets, starting with Malaysia, Indonesia, and Brunei, which has a combined population of 340 million. The service is available in Bahasa Melayu, Bahasa Indonesia, Arabic, and English.

The model is built on China’s open-source DeepSeek model with technical input from Chinese researchers under the ASEAN–China AI Lab initiative.

“This is a prime example of how we can harmonise religion and technology for the benefit of the ummah and the advancement of the nation,” deputy premier Dr Ahmed Zahid Hamidi said at the launch.

NurAI will offer AI Avatar channels which will simulate interactions with Islamic scholars and subject experts. These avatars, trained on exclusive datasets, will provide personalised advice on topics ranging from inheritance law and Islamic finance to medical bioethics.

Zetrix AI has partnered with institutions including INCEIF University, an affiliate of Bank Negara Malaysia, to ensure financial services channels meet scholarly standards.

The system is guided by a formal Shariah Supervisory Board and works with religious bodies such as JAKIM in Malaysia, the Indonesian Ulama Council (MUI), the International Islamic Fiqh Academy, and Egypt’s Al-Azhar University.

Future updates will expand coverage across different religious schools of thought.

Fadzli Shah, co-founder and head of AI development at Zetrix AI, said the project addresses a critical gap in global AI development.

“Current models are shaped by Western and Chinese contexts. With two billion Muslims and a $3 trillion Islamic economy, there is clear demand for AI tools aligned with Islamic perspectives and Global South priorities."

NurAI is rolling out as a freemium consumer app during its launch phase, with premium tools such as inheritance calculators to follow.

In its second phase, Zetrix AI plans to integrate the platform into financial institutions, halal certification bodies, and government agencies.