A conversation about racism in the Middle East with Abeer Sinder, Aziza Sbaity and Ubah Ali


Saeed Saeed
  • English
  • Arabic

The death of an African-American in police custody, George Floyd, in Minneapolis on Monday, May 25, triggered a renewed push to confront racial discrimination that reverberated around the world.

From New York to Paris and Melbourne to Beirut, protesters took to the streets to demand action against systemic racism. The event also sparked much discussion, triggering uncomfortable but important conversations.

In order to raise awareness on such issues in the Middle East, The National invited three women of colour to share their own stories and thoughts.

Abeer Sinder is a beauty vlogger from Saudi Arabia. Ubah Ali is an activist and student from Somaliland who resides in Beirut, where she currently attends The American University of Beirut. And Liberian-Lebanese champion sprinter Aziza Sbaity is dubbed the “fastest woman in Lebanon.”

In a discussion with The National's Saeed Saeed, each of them recounts various forms of racism they've experienced over the years, and discuss how societies can evolve to be fairer.

Racism is kind of in our language," Sbaity says. "The word 'abd' – basically means slave – and the way that it is used in the Arab world basically means a black person.”

Sinder adds: “We have all experienced it – micro-aggressions or full-blown cases of racism. It happens in our world and people have to address it and try their best to be better.”

Ali, whose activism has raised awareness around the plight of some domestic workers in Lebanon, said the recent wave of anti-racism protests encouraged her to raise her voice.

"Seeing this worldwide movement has encouraged me to speak up about this issue,” she said. “Domestic workers need to live with dignity.”

See the full discussion in the video above. 

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

MATCH INFO

Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid

When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid

'Skin'

Dir: Guy Nattiv

Starring: Jamie Bell, Danielle McDonald, Bill Camp, Vera Farmiga

Rating: 3.5/5 stars

Babumoshai Bandookbaaz

Director: Kushan Nandy

Starring: Nawazuddin Siddiqui, Bidita Bag, Jatin Goswami

Three stars

The schedule

December 5 - 23: Shooting competition, Al Dhafra Shooting Club

December 9 - 24: Handicrafts competition, from 4pm until 10pm, Heritage Souq

December 11 - 20: Dates competition, from 4pm

December 12 - 20: Sour milk competition

December 13: Falcon beauty competition

December 14 and 20: Saluki races

December 15: Arabian horse races, from 4pm

December 16 - 19: Falconry competition

December 18: Camel milk competition, from 7.30 - 9.30 am

December 20 and 21: Sheep beauty competition, from 10am

December 22: The best herd of 30 camels