Khor Fakkan was at one stage held by Portuguese forces. Getty Images
Khor Fakkan was at one stage held by Portuguese forces. Getty Images
Khor Fakkan was at one stage held by Portuguese forces. Getty Images
Khor Fakkan was at one stage held by Portuguese forces. Getty Images

Five must-read books that offer insight into the Middle East across the centuries


Balquees Basalom
  • English
  • Arabic

I read each of these books more than three years ago, but I still remember how they moved me, and gave me an insight into what our region was like, spanning from post-Colonial-era Sudan, to when the Portuguese dominated the Arabian Peninsula.

'The Holy Sail' by Abdulaziz Al Mahmoud (2015)

'The Holy Sail' by Abdulaziz Al Mahmoud.
'The Holy Sail' by Abdulaziz Al Mahmoud.

With every page I turned, I felt my eyes were opened to the neglected history of the Portuguese invasion that took place partially in Khor Fakkan – where I now go on holiday. This novel explains how this invasion started and what motivated it, and includes scenes set in Cairo, Jeddah, Aden, Muscat and Al-Ahsa, as well as telling of a young woman’s struggles with love and honour.

'Season of Migration to the North' by Tayeb Salih (1969)

Season of Migration to the North by Tayeb Salih (1969)
Season of Migration to the North by Tayeb Salih (1969)

I remember hating the idea of colonial rule after reading this, and how it can leave your identity in crisis. The story – which follows an unnamed narrator, who leaves Britain to return to his small Sudanese village on the Nile, and villager Mustafa Sa’eed – has been described as “the most important Arabic novel of the 20th century”, and is filled with symbolic references to the East and West.

'I Saw Ramallah' by Mourid Barghouti (2000)

'I Saw Ramallah' by Mourid Barghouti (2000)
'I Saw Ramallah' by Mourid Barghouti (2000)

I read as a child. I was so immersed in it that I experienced every feeling that Barghouti described as he recounted his return to his village for the first time in 30 years. It was as though I was the Palestinian grappling with ideas of home and displacement. The author writes, “The long occupation has changed us from children of Palestine to children of the idea of Palestine.”

'The Bamboo Stalk' by Saud Alsanousi (2015)

The Bamboo Stalk by Saud Alsanousi (2015)
The Bamboo Stalk by Saud Alsanousi (2015)

When I read this novel as part of my university studies, little did I know that it would change how I looked at foreign workers in the Gulf. Alsanousi simply moved me; from the first page, I was struck by the author’s innovation. This novel was adapted into a TV show, Saq Al Bamboo, and highlights social issues in Kuwait, such as racism and the stateless Bidoon.

'The Handsome Jew' by Ali Al Muqri (2009) 

The Current Jew by Ali Al Muqri (2009) Arabic: اليهودي الحالي
The Current Jew by Ali Al Muqri (2009) Arabic: اليهودي الحالي

This is the only book on this list that wasn’t translated into English, but I included it because, as a believer in cross-cultural and cross-faith marriages, the story of Muslim girl Fatimah falling in love with Jewish boy Salem was so relatable. This book is a window into the little-known history of Jews in Yemen in different eras. Al Muqri never fails, in any of his novels, to shed light on minorities in thought-provoking ways.

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Read more:

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Syrian playwright Saadallah Wannous can still reach his audiences two decades after his death

Key UAE figures share their favourite reads in social media challenge

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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.”

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