Maqam Books is Mohammad Masoud’s vision for a bookshop that celebrates the literature and art of the Swana region. Photo: Maqam Books
Maqam Books is Mohammad Masoud’s vision for a bookshop that celebrates the literature and art of the Swana region. Photo: Maqam Books
Maqam Books is Mohammad Masoud’s vision for a bookshop that celebrates the literature and art of the Swana region. Photo: Maqam Books
Maqam Books is Mohammad Masoud’s vision for a bookshop that celebrates the literature and art of the Swana region. Photo: Maqam Books

Former Al Saqi employee launches campaign to open a new Arabic bookshop in London


Razmig Bedirian
  • English
  • Arabic

Mohammad Masoud, a Palestinian bookseller and former employee of Al Saqi, has started a fundraiser with the aim of launching a new space for Arabic literature and art in London, to replace the void left behind by the city’s oldest Arabic bookstore.

Masoud had been working at Al Saqi Books for two years when the landmark store announced that it would be closing after 44 years in business.

The closure was due to “unsustainable” costs, the bookstore said. While economic challenges in the UK were a factor, the cost of importing books from the Arab world was also rising, placing the shop under mounting pressure.

Al Saqi Books had survived various setbacks in the past, including smashed windows during the US invasion of Iraq and after the publishing of Salman Rushdie's controversial The Satanic Verses. Yet, recent global pressures proved insurmountable.

“Even when I was back home, I knew about this iconic place and I never thought I’d be personally working there,” Masoud says. “I moved to the UK in 2020 and started working for them a year later. It was an honour.

“I was there when they closed the doors for the last time,” he adds. “It was very heavy to try and grasp and understand all of that. I felt like I had to do something.”

Al Saqi Books was only the latest of Arab-related institutions in the UK to run aground due to the economic challenges brought on by the pandemic, Masoud says. BBC Arabic marked its last day on air on January 27, closing down after 85 years of broadcasting, whereas the TV channel Al Araby moved its headquarters from London to Qatar in 2021.

“Everything that represented us or spoke our language [in London] disappeared over a few years,” Masoud says. “It feels like this generation and upcoming ones have nowhere to go when they want to learn about their culture and background. Lots of Arabs in diaspora and lots of people interested in Swana (South West Asian/North African) culture, but there’s no place that caters to them.”

Enter Maqam Books, Masoud’s vision for a shop that supports booksellers and publishers from the Swana region. In many ways, it may be considered a spiritual successor to Al Saqi Books, but Masoud says for Maqam Books to thrive, it needs to adapt to the current times. As such, he wants Maqam Books to be more than a bookstore but a cafe, community centre and space for artists to exhibit their works.

“It will be a place where you can read, write and listen to Arabic music and attend Arabic classes,” he says. “At the same time, you’ll be able to enjoy a cup of coffee while reading a book. I’m trying to make this business as sustainable as possible.

"There will be reading events, storytelling or hakawati sessions. You can come and check out artist prints, tote bags, and so on. Unfortunately, selling books is not enough. I would always love to be a bookseller focusing on offering Arabic books, but we have to find other ways to sustain the business.”

Maqam Books will also strive to be an exhibition space for emerging and established artists with roots in the Middle East. The store, which Masoud hopes will find an address in the same neighbourhood as Al Saqi Books, will feature different artists “at least once a month” and transform with every exhibition.

“We will collaborate with different artists so they will bring their prints and works to the store,” Masoud says. “They might even change how the place looks with their works. Our focus for Maqam is for the younger generation ... I want Maqam to showcase the art and literary creativity of the younger generations.”

Much of Masoud’s vision for Maqam Books has come from things he’s picked up while working at Al Saqi, as well as lessons learnt from the closure of the famous bookshop.

“I think you really need to be online,” he says. “This was one of the main lessons I learned. We did not have a good social media or online presence. That affected us a lot. People from our background would come to Al Saqi Books in its last week and say it was the first time they heard of the bookshop. Most of them were young. The reason is we haven't been present for them. I've kind of understood that you need to go further to reach out to people.”

So far, Masoud has managed to raise almost £14,000 ($17,200) through the crowdfunding website JustGiving. To set up and run Maqam for the first year of its journey, the bookshop will need to raise £90,000 ($110,700).

Masoud has segmented the total costs into four “milestones”.

The first, at £25,000 ($30,700), will be dedicated to securing book stock, developing a website and setting up a storage unit. The second, at £50,000 ($61,500), will go to paying half a year's rent for the project. At £75,000 ($92,200), Maqam will have the resources to hire a team and cover operational and stocking costs for six months. The full £90,000 ($110,000) will sustain the business for a year.

“I am fundraising for a dream. Maqam will be a home for people who love the Arabic language and are searching for belonging,” Masoud writes on the crowdfunding page.

"This will be a space for everyone regardless of background to engage with Arabic art and literature no matter how much or little they know of it, a space where both Arabs and non-Arabs can come to learn, relearn and enjoy this wonderful and rich language.”

London's oldest Arabic bookstore Al Saqi closes — in pictures

  • London's beloved Al Saqi Arabic-language book shop has closed after 44 years. All photos: Al Saqi Bookshop
    London's beloved Al Saqi Arabic-language book shop has closed after 44 years. All photos: Al Saqi Bookshop
  • Mai Ghoussoub with Hanan Al Shaykh
    Mai Ghoussoub with Hanan Al Shaykh
  • From left to right: Salwa and Lynn Gaspard
    From left to right: Salwa and Lynn Gaspard
  • Customers browsing
    Customers browsing
  • The shop played an important role in London's Arab community
    The shop played an important role in London's Arab community
  • The shop was London's finest source of Arabic literature for more than four decades
    The shop was London's finest source of Arabic literature for more than four decades
  • Al Saqi team, early 2000s
    Al Saqi team, early 2000s
  • Maggie Gee and Bernardine Evaristo at the launch of The White Family in the Kufa Gallery
    Maggie Gee and Bernardine Evaristo at the launch of The White Family in the Kufa Gallery
  • The beloved shop has closed after 44 years
    The beloved shop has closed after 44 years
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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.”

Updated: February 09, 2023, 6:54 AM