Audio-only app Clubhouse has allowed people in Lebanon to connect amid the pandemic and multiple crises. Getty Images
Audio-only app Clubhouse has allowed people in Lebanon to connect amid the pandemic and multiple crises. Getty Images
Audio-only app Clubhouse has allowed people in Lebanon to connect amid the pandemic and multiple crises. Getty Images
Audio-only app Clubhouse has allowed people in Lebanon to connect amid the pandemic and multiple crises. Getty Images

How Clubhouse is encouraging dialogue in Lebanon among citizens and politicians


Fatima Al Mahmoud
  • English
  • Arabic

For many Lebanese iPhone users, a digital invite is the only thing standing between them and a world of dialogue.

Welcome to Clubhouse, where, once you're off the waitlist and on the exclusive voice chat app, you're faced with a plethora of rooms that are open to all, no knocks or keys required.

In every room, users find themselves lost in a sea of names and profile pictures, everyone patiently waiting for their turn to speak.

Why Clubhouse?

The audio, invite and iOS-only application was initially launched in April 2020 by entrepreneur Paul Davison and former Google engineer Rohan Seth, and was valued at nearly $100 million merely one month later.

Now, it's worth about $1 billion.

It grew exponentially in February, following a talk on the app by Tesla boss Elon Musk, going from three to five million users "almost overnight", according to Wired.

Among those enthusiastically using the app are the Lebanese, who have not shied away from jumping on the bandwagon, downloading the application and distributing invites among one another.

Under Covid-19 safety measures and restrictions, physical gatherings in streets and lively locales have been replaced with a virtual cafe that's only one tap away. The uniqueness of Clubhouse attracts those looking to connect, engage, discuss, listen and network.

  • The streets are deserted in downtown Beirut as Lebanon authorities impose a nationwide lockdown between April 3 and April 6, 2021. EPA
    The streets are deserted in downtown Beirut as Lebanon authorities impose a nationwide lockdown between April 3 and April 6, 2021. EPA
  • The lockdown and a 24-hour curfew will be effective until April 6. EPA
    The lockdown and a 24-hour curfew will be effective until April 6. EPA
  • The curfew, taking place during the Easter holiday, is aimed at preventing the spread of Covid-19 infections. EPA
    The curfew, taking place during the Easter holiday, is aimed at preventing the spread of Covid-19 infections. EPA
  • Lockdown comes as part of the country’s updated national lockdown measures amid worrying Covid-19 numbers. EPA
    Lockdown comes as part of the country’s updated national lockdown measures amid worrying Covid-19 numbers. EPA
  • On March 22 the country witnessed the highest number of admissions to intensive care units since the start of the pandemic. EPA
    On March 22 the country witnessed the highest number of admissions to intensive care units since the start of the pandemic. EPA
  • Lebanon will implement the same restrictions for Eid Al Fitr, as the country struggles to curb the coronavirus spread. EPA
    Lebanon will implement the same restrictions for Eid Al Fitr, as the country struggles to curb the coronavirus spread. EPA
  • Lockdown comes as the country faces its worst economic crisis. EPA
    Lockdown comes as the country faces its worst economic crisis. EPA

Soon enough, clubs such as ‘Lebanon 2030’, ‘Lebanon 2.0’ and ‘Politics of Lebanon’ were amassing huge numbers of members and hosting rooms on all sorts of topics, from elections to governments and reforms.

Now, Lebanese users of different ideologies are coming together in the realm of one room to engage in effective dialogue.

Meaningful discussions

When reflecting on the state of the crisis-stricken country, the disparities among the Lebanese pale in comparison.

"People understand that Lebanon is in a real crisis and they're all experiencing existential dread," Marwan Matni, Lebanese journalist and political activist, tells The National.

“Everyone is scared of what will happen tomorrow, so they’re engaging in conversations to understand where they are and where they’re going."

Marwan Matni, journalist and political activist. Courtesy Marwan Matni
Marwan Matni, journalist and political activist. Courtesy Marwan Matni

Users of all ages, professions, sects, backgrounds, religions and beliefs are meeting up in Clubhouse rooms to share their thoughts on the crises that have plagued Lebanon, caused by years of corruption and mismanagement.

Today, political deadlock has hindered the implementation of an urgent economic rescue plan, the formation of an efficient government and accountability against those who knew about the ammonium nitrate that decimated Beirut on August 4, but did nothing.

  • A helicopter puts out a fire at the scene of the explosion at the port of Lebanon's capital Beirut on August 4, 2020. AFP
    A helicopter puts out a fire at the scene of the explosion at the port of Lebanon's capital Beirut on August 4, 2020. AFP
  • Smoke billows from an area of a large explosion that rocked the harbour area of Beirut, Lebanon. EPA
    Smoke billows from an area of a large explosion that rocked the harbour area of Beirut, Lebanon. EPA
  • The aftermath of blast in Beirut. Sunniva Rose / The National
    The aftermath of blast in Beirut. Sunniva Rose / The National
  • The scene of the explosion that rocked Beirut. AFP
    The scene of the explosion that rocked Beirut. AFP
  • The harbour area with smoke billowing from an area of the explosion, Beirut, Lebanon. EPA
    The harbour area with smoke billowing from an area of the explosion, Beirut, Lebanon. EPA
  • A man reacts at the scene of an explosion at the port in Lebanon's capital Beirut. AFP
    A man reacts at the scene of an explosion at the port in Lebanon's capital Beirut. AFP
  • The scene of the explosion at the port in Beirut. AFP
    The scene of the explosion at the port in Beirut. AFP
  • The scene of the explosion at the port in Beirut. AFP
    The scene of the explosion at the port in Beirut. AFP
  • The scene of the explosion in Beirut. AFP
    The scene of the explosion in Beirut. AFP
  • People gather near the scene of the explosion in Beirut. AFP
    People gather near the scene of the explosion in Beirut. AFP
  • The scene of the blast in Beirut. AFP
    The scene of the blast in Beirut. AFP
  • The scene of the explosion in Beirut. AFP
    The scene of the explosion in Beirut. AFP
  • A wounded man is checked by a fireman near the scene of the explosion in Beirut. AFP
    A wounded man is checked by a fireman near the scene of the explosion in Beirut. AFP
  • A resident stands in the street by a destroyed car, following the explosion near by at the port of Beirut. Bloomberg
    A resident stands in the street by a destroyed car, following the explosion near by at the port of Beirut. Bloomberg
  • Lebanese Red Cross officers carry an injured woman following an explosion at the port of Beirut on August 4, 2020. AFP
    Lebanese Red Cross officers carry an injured woman following an explosion at the port of Beirut on August 4, 2020. AFP
  • Smoke rises after the explosion was heard in Beirut. Reuters
    Smoke rises after the explosion was heard in Beirut. Reuters
  • Firefighters spray water at a blaze after the explosion in Beirut. Reuters
    Firefighters spray water at a blaze after the explosion in Beirut. Reuters
  • People walk at scene of the explosion in Beirut. AFP
    People walk at scene of the explosion in Beirut. AFP
  • The blast at Beirut port. Twitter/ @borzou
    The blast at Beirut port. Twitter/ @borzou
  • Army personnel around entrance to port.
    Army personnel around entrance to port.
  • The aftermath of the blast in Beirut. Sunniva Rose / The National
    The aftermath of the blast in Beirut. Sunniva Rose / The National
  • The aftermath of the blast in Beirut. Sunniva Rose / The National
    The aftermath of the blast in Beirut. Sunniva Rose / The National
  • The aftermath of the blast in Beirut. Sunniva Rose / The National
    The aftermath of the blast in Beirut. Sunniva Rose / The National
  • The aftermath of blast in Beirut. Sunniva Rose / The National
    The aftermath of blast in Beirut. Sunniva Rose / The National
  • Sailors leave their damaged ship near the explosion in Beirut. AP Photo
    Sailors leave their damaged ship near the explosion in Beirut. AP Photo
  • A vehicle stands damaged on a road following a large explosion at the port area of Beirut. Bloomberg
    A vehicle stands damaged on a road following a large explosion at the port area of Beirut. Bloomberg
  • Firefighters try to extinguish flames after a large explosion rocked the harbour area of Beirut. EPA
    Firefighters try to extinguish flames after a large explosion rocked the harbour area of Beirut. EPA
  • People and journalists gather at the scene of an explosion at the port of Lebanon's capital Beirut. AFP
    People and journalists gather at the scene of an explosion at the port of Lebanon's capital Beirut. AFP
  • An injured man sits outside American University of Beirut medical centre on August 5, 2020. Reuters
    An injured man sits outside American University of Beirut medical centre on August 5, 2020. Reuters
  • Men stand before wrecked buildings near the port. Getty Images
    Men stand before wrecked buildings near the port. Getty Images
  • A man walks by an overturned car and destroyed buildings. Getty Images
    A man walks by an overturned car and destroyed buildings. Getty Images
  • Lebanese soldiers stand outside American University of Beirut medical centre. Reuters
    Lebanese soldiers stand outside American University of Beirut medical centre. Reuters
  • Injured people stand after the explosion. AP Photo
    Injured people stand after the explosion. AP Photo
  • People gather by cars destroyed following an explosion at the port of Lebanon's capital Beirut. AFP
    People gather by cars destroyed following an explosion at the port of Lebanon's capital Beirut. AFP
  • Wounded people wait to receive treatment outside a hospital following an explosion near the Beirut port. AFP
    Wounded people wait to receive treatment outside a hospital following an explosion near the Beirut port. AFP

It did, however, set in motion grounds for dialogue that are lacking on other media channels.

"Clubhouse enforces respect," says a Lebanese law student and activist who wishes to remain anonymous. "If you don't want to abide by that, it's not the platform for you."

From digital rooms to real-world meet-ups

While other social media platforms can be used by fake profiles, Clubhouse allows for genuine and realistic conversations, explains Roland Abi Najem, a cybersecurity and digital transformation consultant.

“It allows people to express themselves with emotions like they would in real life because their names and voices are public.”

Clubhouse has served as an ‘ice breaker’ between groups that have long learnt to disagree with one another, he adds.

After participating in rooms with groups of different ideologies, Jade Dimien, a member of the Lebanese Forces Central Council, says he focused on finding common ground and sharing "similar values" with others.

“The application has narrowed the differences between groups and showed them the extent of common ground they can share,” he explains.

Roland Abi Najem, cybersecurity and digital transformation consultant. Courtesy Roland Abi Najem
Roland Abi Najem, cybersecurity and digital transformation consultant. Courtesy Roland Abi Najem

The app's impact has even extended beyond the digital-scape, with users arranging in-person debates and discussions.

"It's important that we take what we learn in Clubhouse rooms and apply it into the real world," says Dimien, who is from Tripoli, Lebanon's second largest city and one of the most impoverished areas on the Mediterranean. He has been actively partaking in rooms discussing solutions and projects for the neglected city.

“These discussions are a huge added value, and hopefully the positive impact will continue to grow with time.”

'Capable of change'

While Clubhouse may not play the same role that social media platforms did in igniting the Arab uprisings, it can help regain faith in Lebanon's protests which first kicked off in mid-October 2019, argue activists.

  • A protester throws a tyre on to a fire to block a road during a protest in north of Beirut, Lebanon in October 2019. EPA
    A protester throws a tyre on to a fire to block a road during a protest in north of Beirut, Lebanon in October 2019. EPA
  • Demonstrators sit together during a protest over deteriorating economic situation, in the city of Jounieh, north of Beirut. Reuters
    Demonstrators sit together during a protest over deteriorating economic situation, in the city of Jounieh, north of Beirut. Reuters
  • Demonstrators gather in Sidon, Lebanon. Reuters
    Demonstrators gather in Sidon, Lebanon. Reuters
  • Lebanese riot police fire tear gas. AP Photo
    Lebanese riot police fire tear gas. AP Photo
  • Protesters shout anti-government slogans in front of the Government Palace in downtown Beirut. EPA
    Protesters shout anti-government slogans in front of the Government Palace in downtown Beirut. EPA
  • Thousands of protesters, mainly civil activists, condemned the proposed taxes that would go along with the 2020 budget, especially an unexpected government plan to impose a fee for using WhatsApp calls. EPA
    Thousands of protesters, mainly civil activists, condemned the proposed taxes that would go along with the 2020 budget, especially an unexpected government plan to impose a fee for using WhatsApp calls. EPA
  • Public anger has simmered since parliament passed an austerity budget in July to help trim a ballooning deficit. EPA
    Public anger has simmered since parliament passed an austerity budget in July to help trim a ballooning deficit. EPA
  • Protesters in the capital blocked the road to the airport with burning tyres, prompting a heavy deployment by security forces. EPA
    Protesters in the capital blocked the road to the airport with burning tyres, prompting a heavy deployment by security forces. EPA
  • A crows of demonstrators faces police. EPA
    A crows of demonstrators faces police. EPA
  • Lebanese demonstrators gather during a protest in Zouk Mikael. AFP
    Lebanese demonstrators gather during a protest in Zouk Mikael. AFP
  • Lebanese army convoy waits for a blocked road to be open. EPA
    Lebanese army convoy waits for a blocked road to be open. EPA
  • An anti-government protester walks between burning tyres in Beirut, Lebanon. AP Photo
    An anti-government protester walks between burning tyres in Beirut, Lebanon. AP Photo
  • Demonstrators run as they hold tyres during a protest over the deteriorating economic situation, in Dora, Lebanon. Reuters
    Demonstrators run as they hold tyres during a protest over the deteriorating economic situation, in Dora, Lebanon. Reuters
  • Lebanese demonstrators take a selfie during the protest. AFP
    Lebanese demonstrators take a selfie during the protest. AFP
  • Passengers walk to the airport after anti-government protesters blocked the road. AP Photo
    Passengers walk to the airport after anti-government protesters blocked the road. AP Photo
  • Anti-government protesters hold a placard with Arabic that reads "Revolution," as shout slogans against the Lebanese government. AP Photo
    Anti-government protesters hold a placard with Arabic that reads "Revolution," as shout slogans against the Lebanese government. AP Photo
  • A protester wearing a Guy Fawkes mask looks in Beirut's Salim Slem neighbourhood. AFP
    A protester wearing a Guy Fawkes mask looks in Beirut's Salim Slem neighbourhood. AFP
  • Lebanese demonstrators wave the national flag during a protest against dire economic conditions in downtown Beirut. AFP
    Lebanese demonstrators wave the national flag during a protest against dire economic conditions in downtown Beirut. AFP

"After October 17, the ruling class tried its best to downplay the impact of the demonstrations," says Matni. "But Clubhouse can help the Lebanese see that they are capable of change."

The ‘rules’ of Clubhouse play an important part in facilitating dialogue about this, he says.

For example, moderators keep the discussion in check, cycling back to the designated topic and avoiding heated arguments. Even 'trolls' who enter Clubhouse rooms to start trouble have quickly learnt that unless they improve their communication, they won't get the chance to speak.

"They can simply be muted or removed off stage, so it teaches them to change their ways if they really want to talk," says the law student.

When you're in a room with people who are listening and forming an opinion based on what you're saying, you do your best to deliver a logical discussion

People are encouraged to speak one at a time, prompting others to listen. Speakers are then more motivated to present a valid and succinct argument.

“When you’re in a room with people who are listening and forming an opinion based on what you’re saying, you do your best to deliver a logical discussion,” explains Abi Najem.

This approach has broken down barriers and defied the perception of “us vs them”, still very prevalent in Lebanon, and instead brought people closer together, all drawn in by a collective concern for the country and its future.

“If things get worse in Lebanon, it’s not a chapter we can turn over, it’s a turning point,” says Matni. “We have to listen to each other because politicians won’t listen.”

'Politicians can hear you'

Many of Lebanon’s lawmakers and ministers have also joined Clubhouse to share their programmes and visions for the country, especially ahead of the parliamentary elections in 2022.

Despite offering promises for years, politicians were received on the application by citizens who welcomed the two-way communication.

“Regardless of how you feel about the politicians, it’s important to express your views and tell them where they went wrong directly," says Dimien. "Unlike other media outlets, on Clubhouse you know that they can hear you.”

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

Teams

India (playing XI): Virat Kohli (c), Ajinkya Rahane, Rohit Sharma, Mayank Agarwal, Cheteshwar Pujara, Hanuma Vihari, Ravichandran Ashwin, Ravindra Jadeja, Wriddhiman Saha (wk), Ishant Sharma, Mohammed Shami

South Africa (squad): Faf du Plessis (c), Temba Bavuma, Theunis de Bruyn, Quinton de Kock, Dean Elgar, Zubayr Hamza, Keshav Maharaj, Aiden Markram, Senuran Muthusamy, Lungi Ngidi, Anrich Nortje, Vernon Philander, Dane Piedt, Kagiso Rabada, Rudi Second

RESULTS
%3Cp%3E%0D%3Cstrong%3E5pm%3A%20%3C%2Fstrong%3EWathba%20Stallions%20Cup%20%E2%80%93%20Handicap%20(PA)%20Dh70%2C000%20(Turf)%202%2C200m%0D%3Cbr%3E%3Cstrong%3EWinner%3A%20%3C%2Fstrong%3EAl%20Hazeez%2C%20Saif%20Al%20Balushi%20(jockey)%2C%20Khalifa%20Al%20Neyadi%20(trainer)%0D%3Cbr%3E%3Cstrong%3E5.30pm%3A%20%3C%2Fstrong%3EShams%20Gate%20Tower%20%E2%80%93%20Maiden%20(PA)%20Dh80%2C000%20(T)%201%2C200m%0D%3Cbr%3E%3Cstrong%3EWinner%3A%3C%2Fstrong%3E%20ES%20Sudani%2C%20Antonio%20Fresu%2C%20Hamad%20Al%20Marar%0D%3Cbr%3E%3Cstrong%3E6pm%3A%3C%2Fstrong%3E%20Al%20Bahr%20Towers%20%E2%80%93%20Handicap%20(PA)%20Dh80%2C000%20(T)%201%2C200m%0D%3Cbr%3E%3Cstrong%3EWinner%3A%3C%2Fstrong%3E%20AF%20Musannef%2C%20Tadhg%20O%E2%80%99Shea%2C%20Ernst%20Oertel%0D%3Cbr%3E%3Cstrong%3E6.30pm%3A%3C%2Fstrong%3E%20Capital%20Gate%20%E2%80%93%20Maiden%20(PA)%20Dh80%2C000%20(T)%201%2C600m%0D%3Cbr%3E%3Cstrong%3EWinner%3A%3C%2Fstrong%3E%20Shugga'A%20Baynounah%2C%20Dane%20O%E2%80%99Neill%2C%20Nisren%20Mahgoub%0D%3Cbr%3E%3Cstrong%3E7pm%3A%20%3C%2Fstrong%3EEtihad%20Towers%20%E2%80%93%20Conditions%20(PA)%20Dh80%2C000%20(T)%201%2C600m%0D%3Cbr%3E%3Cstrong%3EWinner%3A%20%3C%2Fstrong%3EAF%20Maqam%2C%20Tadhg%20O%E2%80%99Shea%2C%20Ernst%20Oertel%0D%3Cbr%3E%3Cstrong%3E7.30pm%3A%3C%2Fstrong%3E%20Fairmont%20Marina%20%E2%80%93%20Maiden%20(TB)%20Dh80%2C000%20(T)%201%2C600m%0D%3Cbr%3E%3Cstrong%3EWinner%3A%20%3C%2Fstrong%3ETempesta%20D'Oro%2C%20Xavier%20Ziani%2C%20Salem%20bin%20Ghadayer%3C%2Fp%3E%0A
Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

Zimbabwe v UAE, ODI series

All matches at the Harare Sports Club:

1st ODI, Wednesday, April 10

2nd ODI, Friday, April 12

3rd ODI, Sunday, April 14

4th ODI, Tuesday, April 16

UAE squad: Mohammed Naveed (captain), Rohan Mustafa, Ashfaq Ahmed, Shaiman Anwar, Mohammed Usman, CP Rizwan, Chirag Suri, Mohammed Boota, Ghulam Shabber, Sultan Ahmed, Imran Haider, Amir Hayat, Zahoor Khan, Qadeer Ahmed

The specs

Engine: 4.0-litre V8 twin-turbocharged and three electric motors

Power: Combined output 920hp

Torque: 730Nm at 4,000-7,000rpm

Transmission: 8-speed dual-clutch automatic

Fuel consumption: 11.2L/100km

On sale: Now, deliveries expected later in 2025

Price: expected to start at Dh1,432,000

%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Nag%20Ashwin%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3EPrabhas%2C%20Saswata%20Chatterjee%2C%20Deepika%20Padukone%2C%20Amitabh%20Bachchan%2C%20Shobhana%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E%E2%98%85%E2%98%85%E2%98%85%E2%98%85%3C%2Fp%3E%0A

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.”

Last five meetings

2013: South Korea 0-2 Brazil

2002: South Korea 2-3 Brazil

1999: South Korea 1-0 Brazil

1997: South Korea 1-2 Brazil

1995: South Korea 0-1 Brazil

Note: All friendlies

Abu Dhabi World Pro 2019 remaining schedule:

Wednesday April 24: Abu Dhabi World Professional Jiu-Jitsu Championship, 11am-6pm

Thursday April 25:  Abu Dhabi World Professional Jiu-Jitsu Championship, 11am-5pm

Friday April 26: Finals, 3-6pm

Saturday April 27: Awards ceremony, 4pm and 8pm

Farage on Muslim Brotherhood

Nigel Farage told Reform's annual conference that the party will proscribe the Muslim Brotherhood if he becomes Prime Minister.
"We will stop dangerous organisations with links to terrorism operating in our country," he said. "Quite why we've been so gutless about this – both Labour and Conservative – I don't know.
“All across the Middle East, countries have banned and proscribed the Muslim Brotherhood as a dangerous organisation. We will do the very same.”
It is 10 years since a ground-breaking report into the Muslim Brotherhood by Sir John Jenkins.
Among the former diplomat's findings was an assessment that “the use of extreme violence in the pursuit of the perfect Islamic society” has “never been institutionally disowned” by the movement.
The prime minister at the time, David Cameron, who commissioned the report, said membership or association with the Muslim Brotherhood was a "possible indicator of extremism" but it would not be banned.