In 1997, Sheikh Zayed, the UAE's Founding Father, hosted a camel race at Abu Dhabi's Al Wathba track. The race was held for a German delegate and friend, Wilhelm Breitling, who himself had a camel farm in Germany.
What was atypical about this particular race was that the participating camel jockeys were all German women. In the famously insular male-dominated sport, this was highly unusual. However, the women had been learning to ride the camels for several weeks and were invited to the UAE by Sheikh Zayed, who was one of the most ardent patrons of camel racing in the region and wanted to promote the sport internationally.
The event was a historical one and made headlines in Germany. It also marked one of the few, if not only, instances where women participated in a camel race as jockeys. The positive outcomes of that 1997 event are still being felt today. Now, more than two decades later, the race is being cited as the inspiration behind the creation of a camel racing school that focuses on training women.
Located near Al Marmoom Heritage Village in Dubai, the Arabian Desert Camel Riding Centre (ADCRC) opened its doors in January and is billed as the UAE's first licensed centre for camel riding, training and race preparation. The centre, owned by Obaid bin Subaih Al Falasi, is managed by Shamsa Al Hajj and Linda Krockenberger, both of whom have years of camel riding experience and lead the training sessions.
"Students with no experience can join us and will eventually graduate with the required skills to also participate in camel races if they wish," Al Hajj tells The National.
While the centre does accept male students and has designated days for mixed classes, its primary focus is on training a women's team to participate in heritage races across the country. These races, held with the intention of keeping the tradition alive, generally take place between October and March and are separate from the competitive races jockeyed by robots.
Students with no experience can join us and will eventually graduate with the required skills to also participate in camel races if they wish
“The team includes more than 12 camel jockeys from several European and Arab countries,” Al Hajj says. “They all participate with courage and passion.”
While some of the women have horse riding experience, most are completely new to the sport. Al Hajj says they usually begin the training by learning how to walk and trot with the camels, first with the support of guiding camels before taking the reins freely.
“We train in the mornings and evenings and cover between eight and 12 kilometres in each session,” Al Hajj says. “The most important aspect of riding camels is to find balance within the moment with minimal support. Our education programme includes the necessary theoretical classes in how to prepare the riding equipment as well as how to care for the animals.”
Part of the motivation to open the centre, Krockenberger says, is that she couldn't find a place to develop her camel riding skills after learning how to ride two years ago during the annual camel trek held by the Hamdan bin Mohammed Heritage Centre.
“Once the journey from Liwa to Dubai was completed, I wanted to go find a place to continue working with these fascinating animals, especially because it was a good balance to my corporate life,” she says. “That’s how I met Shamsa [Al Hajj] and we became good friends.”
Krockenberger began honing her riding skills with Al Hajj, taking a series of long camel rides with her as often as she could. "We did a return trip to Qudra Lakes, which is 25km away, just for fun. It took a whole day but it was a chance to enjoy the camels and the desert."
Eventually, the duo decided to launch the school with the aim of making it more accessible for members of the larger UAE community to interact with camels and to also carve a space for women jockeys at the annual heritage races.
"The heritage races are where Emirati boys would be riding, across different age categories and Shamsa [Al Hajj], being a strong Emirati woman and very passionate about her heritage, said 'OK, but where's our place?'," Krockenberger says. Come October, the women's camel racing team at the ADCRC will be ready to take part in the heritage races.
Though camel racing is deeply ingrained in the UAE's culture – it was included in Unesco's Representative List of the Intangible Cultural Heritage of Humanity in December as a UAE and Omani element – it isn't easy for most residents to participate in.
“Our mission is to make the sport available for everyone who is interested,” she says. “There is a focus on females because they didn’t have a space like this so far.”
Krockenberger said that it was important for the centre to receive an official licence from the Dubai Sports Council. She says she and Al Hajj didn't want to just make the hobby accessible to other people, but to build something that could potentially have a lasting legacy.
“We wanted to bring back the athletic aspect of camel racing,” she says. “To have the centre run by and for the community, where we can all take input from the people and our team and evolve.”
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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FTO designations impose immigration restrictions on members of the organisation simply by virtue of their membership and triggers a criminal prohibition on knowingly providing material support or resources to the designated organisation as well as asset freezes.
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