The Islamic Food and Nutrition Council of America (IFANCA) was among the donors contributing to a global pledging event in Abu Dhabi that secured $1.9 billion for polio eradication, helping reduce the remaining financing gap in the Global Polio Eradication Initiative (GPEI) strategy to $440 million.

Hosted by the Mohamed bin Zayed Foundation for Humanity during Abu Dhabi Finance Week, the forum titled "Investing in Humanity: United to End Polio" was held in the presence of His Highness Sheikh Hamdan bin Mohamed bin Zayed Al Nahyan and brought together senior government officials, global health leaders and philanthropic organisations. IFANCA was recognised by GPEI and the Foundation as a key contributing partner.

“Today’s pledges demonstrate our shared determination to end polio and protect every child from this preventable disease,” said Her Highness Sheikha Mariam bint Mohamed bin Zayed Al Nahyan, Chair of the Mohamed bin Zayed Foundation for Humanity. “Under the guidance of His Highness Sheikh Mohamed bin Zayed Al Nahyan, we are proud to stand with countries, donors and partners as we work hand-in-hand to achieve it.”

Pledges included $1.2 billion from the Gates Foundation, $450 million from Rotary International, $140 million from the Mohamed bin Zayed Foundation for Humanity, $100 million from Bloomberg Philanthropies, $154 million from Pakistan, $62 million from Germany, $46 million from the United States, $6 million from Japan, $4 million from IFANCA, and contributions from Luxembourg and other partners.

Dr Tedros Adhanom Ghebreyesus, WHO Director-General, called the new support “instrumental” to reaching children in the last two endemic countries — Afghanistan and Pakistan — and stopping variant outbreaks in other regions. Bill Gates said the world is “99.9% of the way there,” but stressed that “the last stretch demands the same determination that got us this far.”

IFANCA President Dr Muhammad Munir Chaudry said the organisation remained committed to the final phase of the effort: “Supporting children and protecting the most vulnerable is central to IFANCA’s mission. The last mile is the hardest, but we stand with our partners across GPEI to finish the job and create a world free of polio.”

The new funding comes as the global eradication programme faces tightening development budgets, with donor cutbacks leading to a projected 30% drop in GPEI financing in 2026. Global health agencies warn that additional support is critical to avoid reversing gains made since 1988, when polio paralyzed more than 1,000 children a day.

The UAE continues to play a central role in eradication efforts. President His Highness Sheikh Mohamed bin Zayed Al Nahyan has committed $525 million to polio initiatives since 2011, while the Emirates Polio Campaign has delivered over 850 million vaccine doses in Pakistan, focusing on hard-to-reach communities.

Despite substantial progress, with global polio cases down over 99% since 1988, wild poliovirus transmission persists in Pakistan and Afghanistan, and variant outbreaks remain active in 18 countries.

The Abu Dhabi forum marks the third major pledging event hosted in the UAE, following summits in 2013 and 2019 that helped mobilise $6.6 billion for the global eradication effort.

Nasdaq Dubai has listed a $500 million Sukuk issued by MAF Sukuk Ltd., guaranteed by Majid Al Futtaim Holding LLC, as the group expands its use of Dubai’s international debt capital markets to access a broader investor base.

The Sukuk, which matures on 22 October 2035 and offers a profit rate of 4.875%, generated an order book exceeding $2 billion. Proceeds will support the company’s general corporate purposes and refinancing plans. 

Hamed Ali, CEO of Nasdaq Dubai and DFM, stated that the listing underscores Dubai’s position as a hub for Islamic finance and global capital flows. “The strong investor response reinforces the trust placed in issuers that demonstrate sound financial management and long-term resilience,” he noted.

The new Sukuk brings Majid Al Futtaim’s total listings on Nasdaq Dubai to $2.2 billion across four issuances. It follows the company’s recent hybrid bond—which was heavily oversubscribed—and adds to the exchange’s growing pipeline of regional and international debt instruments. Nasdaq Dubai now hosts more than $145 billion in outstanding debt securities.
 

Saudi Arabia’s famed AlUla, home to historical sites and civilizations, have been named the World’s leading Cultural Tourism Project 2025.  

AlUla secured the honour at this year’s World Travel Awards, cementing its position as a hub for culture, heritage, exploration, and discovery.

AlUla’s latest accolade comes after the city was named as the Middle East's leading cultural tourism project 2025, Middle East's leading Festival and event destination 2025, and Saudi Arabia's Leading Cultural Tourism Project 2025 at the recent regional edition of the World Travel Awards.

AlUla, sprawling across 22,561 square kilometres in the northwestern area of Saudi Arabia, offers a journey though oases, sandstone formations and cultural landmarks. It is home to some of the region's and the world’s most significant cultural landmarks, including Hegra, Saudi Arabia's first UNESCO World Heritage Site, which features a collection of preserved Nabataean tombs.

Pakistan and Indonesia signed seven memoranda of understanding on Tuesday to broaden cooperation in areas including trade, higher education, halal certification and health, during Indonesian President Prabowo Subianto’s two-day visit to Islamabad.

The agreements were finalized after talks between Prime Minister Shehbaz Sharif and President Subianto, whose trip marks his first to Pakistan since taking office and coincides with the 75th anniversary of bilateral relations.

Speaking at a joint media briefing, Sharif said Pakistan was seeking a more balanced trading relationship, noting that palm oil imports currently dominate a bilateral trade volume of $4.5 billion. “More than 90% represents imports from our brotherly country, Indonesia, that is palm oil,” he said. “We have discussed how to take corrective measures to balance this trade through agri-exports from Pakistan, through exports of our IT-led initiatives, and in many other areas where we can fill this gap.”

Sharif also offered Pakistan’s support for Indonesia’s health sector: “I want to assure you that whatever is possible for us in this behalf, we will do it without any delay and with great pleasure and most willingly.”

The MoUs signed include cooperation in higher education, an Indonesian state scholarship program, SME facilitation, archival collaboration, narcotics control, halal trade and certification, and health-sector development, according to state broadcaster Radio Pakistan.

BankIslami Pakistan has introduced what it says is the country’s first fully digital Islamic banking platform, aiming to expand nationwide access to Shariah-compliant financial services as customer demand for mobile banking accelerates.

The platform — called Aik — was announced on Wednesday in a statement by the bank, which said the rollout marks a major step in its digital transformation strategy. BankIslami was the first Islamic bank to be licensed under Pakistan’s 2003 Islamic Banking Policy and began operations in 2006.

“This platform fulfills a critical need in Pakistan’s banking landscape for a fully digital solution that aligns with Islamic principles without compromising convenience and accessibility,” said Ashfaque Ahmad, the project lead. He added that Aik, meaning “one,” reflects the bank’s vision of a unified, Riba-free financial ecosystem.

The app integrates a range of core services, including digital account opening with biometric verification, instant fund transfers, bill payments, mobile top-ups and an internationally usable debit card. Additional tools, such as a Qibla direction feature, are also included.

Available on Google Play and the Apple App Store, Aik allows customers to register using their CNIC and immediately access a secure digital Islamic banking experience.

Pakistan and Kyrgyzstan have agreed to raise their bilateral trade volume to $200 million by 2027, setting a clear target to expand economic cooperation following talks in Islamabad between Prime Minister Shehbaz Sharif and President Sadyr Zhaparov.

The two leaders discussed strengthening ties across trade, energy, connectivity, and security, with both sides expressing commitment to building a more structured economic partnership. “Pakistan offers a strategic gateway to global markets through Karachi, Gwadar and Port Qasim,” Prime Minister Sharif told the visiting delegation as he encouraged Kyrgyz businesses to pursue joint ventures in sectors including trade, education and health.

President Zhaparov underscored the importance of the partnership given Kyrgyzstan’s location in the heart of Eurasia. He said the country’s membership in the Eurasian Economic Union and its GSP+ status could help provide Pakistan with broader access to European and regional markets.

The current trade volume stands at roughly*$5 million, but the two sides said they expect to scale this up significantly through improved market access, transport links and investment opportunities. The meeting also reviewed progress on the CASA-1000 electricity project, which would transmit surplus power from Central Asia to Pakistan. Kyrgyzstan has completed its section of the line, while Pakistan’s portion is under way.

Connectivity featured prominently in the discussions, including steps to operationalize the Quadrilateral Traffic in Transit Agreement (QTTA), intended to provide road access between Pakistan and Kyrgyzstan through China. Both sides highlighted the importance of transport corridors and regional infrastructure for supporting trade and supply chains.

Educational cooperation was also addressed. Around 8,500 Pakistani students currently study medicine in Kyrgyzstan, and the two governments agreed to create a joint certification mechanism for medical graduates seeking employment in either country.

Zhaparov invited Pakistani investors to explore opportunities in Kyrgyzstan’s hydropower, logistics, agriculture, tourism and halal sectors. He also noted recent developments in the country’s digital economy, including the launch of Kyrgyzstan’s national stablecoin, and signalled openness to collaboration on virtual assets.

The visit concluded with the signing of 15 agreements and MoUs spanning energy, agriculture, education, culture and tourism. One of the key outcomes was the establishment of sister-city relations between Islamabad and Bishkek.

Dubai Customs has signed a strategic memorandum of understanding with Binance to expand digital payment capabilities.

The preliminary agreement aims to develop the UAE’s domestic payment ecosystem by integrating digital assets into commercial transactions and enabling the logistics sector to benefit from digital payments, Dubai Customs said in a statement. 

The partnership will improve the efficiency of import–export operations, streamline customs procedures, and attract new investors by offering modern payment options that help expand their businesses and access new global markets.  

“With this MoU, Dubai Customs is establishing a progressive economic model capable of meeting the requirements of the digital economy, creating an innovative business environment that supports Dubai’s ambitions and global competitiveness in fintech and smart payments,” said Sultan Ahmed bin Sulayem, Chairman and CEO of DP World and Chairman of Ports, Customs and Free Zone Corporation. 

“Through this MoU, we will jointly launch innovative solutions capable of making a tangible difference in the customs sector locally and globally,” added Richard Teng, CEO of Binance.