The Council's activities are aimed at developing international standards for the regulation and supervision of Islamic financial institutions, to implement effective corporate governance and risk management mechanisms, as well as to conduct research and capacity building of the staff in this field, and to assist member organisations in these matters.
Membership in this organization will enable the Central Bank to explore the experience of other countries and implement best international practices
in the regulation and supervision of Islamic financial institutions.
For reference: The Council was established in 2002 and is headquartered in Kuala Lumpur (Malaysia). Currently, the Council has 188 members, including 81 regulators and supervisors, 10 international intergovernmental organisations, 97 market participants. Also, the financial regulators of Kazakhstan, Kyrgyzstan and Tajikistan are members of the Council.
Umrah entry visas now valid for one month instead of three from issuance date.
Saudi Arabia’s Ministry of Hajj and Umrah has reduced the validity period for Umrah entry visas from three months to one month from issuance date, though the permitted stay duration remains unchanged at three months after arrival.
The new regulations take effect next week (November 1, 2025) amid a record-breaking Umrah season that has already seen over four million visas issued to foreign pilgrims.
Under the updated system, Umrah visas will automatically cancel if pilgrims fail to enter Saudi Arabia within 30 days of issuance.
The three-month allowance for staying in the Kingdom after arrival remains unaffected, preserving pilgrims’ flexibility once they enter the country.
Ahmed Bajaeifer, advisor at the National Committee for Umrah and Visit, confirmed the changes to prepare for expected pilgrim increases following summer’s end and cooler temperatures in Mecca and Medina.
The current Umrah season, beginning in early June, has achieved unprecedented numbers with four million foreign pilgrims arriving within just five months. This volume surpasses previous full-season totals, demonstrating growing global demand for Umrah pilgrimage opportunities.