Dear Ali: Why is alcohol forbidden in Islam? Don't you feel like sometimes wanting to try it? DO, Canada
Dear DO: Alcohol is forbidden in Islam because it is considered an intoxicant, which technically means poison. The Holy Quran in several verses forbids intoxicants because one is not meant to harm oneself in any way or form.
There are verses in the Quran that forbid Muslims to pray under the influence of any intoxicant (4:43). The Quran also says that alcohol contains some good and some evil, but that the evil is greater than the good (2:219). This is meant as a deterrent to make people turn away from its consumption. That said, the Quran clarifies that "intoxicants and games of chance" are "abominations of Satan's handiwork" (Soura 5:90-91). We interpret these verses as forbidding the use of intoxicants such as beer, wine and spirits.
Moreover, the Quranic ban is due not only to alcohol being an intoxicant, but also because it could make devoted Muslims forget their prayers and God. To us, that would be far more harmful than anything.
Also, the Prophet Mohammed (PBUH) instructed his followers to avoid any intoxicating substances. For this reason, most Muslims avoid alcohol, even small amounts used in cooking. Therefore, if you are a non-Muslim and invite your Muslim friends for lunch or dinner, it would be polite to respect their religion. If any alcohol has been used to cook or prepare the dishes, warn your guests as a sign of respect.
Many people associate alcohol with "having fun" or "a good time". I respect that and I have no problem with it, but have to ask: what kind of fun is it when it could lead to losing your temper or your mind? What fun is it when it smells bad? What fun is it if you can't even drive your own car? Even those who drink moderately may still have a headache when they wake up in the morning. So again, where is the fun?
Those are some reasons why I don't drink, but the main reason is that as a believer in God and as a Muslim I'm proud to say that I follow my religion's teachings, which are good for me and my community.
Dear Ali: My friend just bought a new car and slaughtered a goat or a sheep to celebrate. What does slaughtering an animal have anything to do with that? LV, Sharjah
Dear LV: I understand your confusion. It sounds like quite a random thing to someone who doesn't know our Islamic and cultural ways.
When something good happens in our lives, Muslims usually try to show our gratitude by slaughtering livestock and giving it away to the less fortunate. It also is almost our way of trying to prevent bad omens.
You may be aware that we say phrases such as "mashallah" to guard against the evil eye, but that is not always enough. We believe the power of an envious eye can cause bad things to happen to us, and slaughtering livestock (or giving money to charity) cleanses any bad vibes to the best of our ability.
This act is somewhat similar to the practice of slaughtering livestock during Eid Al Adha, one of the biggest Islamic celebrations after the pilgrimage to Mecca. The point is to share one's blessings as an act of kindness.
Some people would choose a cow or even a camel, but for most the animal to be slaughtered is either a goat or a sheep.
Language lesson
Arabic: Khamr
English: Alcohol/fermented
While the word "khamr" means fermented, most of the time it refers to alcoholic drinks, since they are fermented. "Ana ma ashrab khamr" means "I don't drink alcohol".
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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