Children's moral and educational future was at the forefront of the second session of Riyadh's Philosophy Conference on Friday.
Over the course of the three-day event, numerous workshops and panels were set up to tackle the integral role of philosophy in the daily lives of young people.
“Engaging youth at the early development stage, when children are not burdened by many layers or conflicting thoughts, sets forth a positive precedent to assist our youth in cementing a better way to process ideas and thoughts from the start,” said Saed Al Bazaei, director of the Publishing and Translation Commission at the Ministry of Culture.
That is what Dalia Toonsi, founder and general manager of Baseera Educational Consultancy, has dedicated all her energies and career path towards: teaching philosophical thinking from the earliest school years.
“Dialogic teaching and learning have been the centre of my interest when it comes to developing my field as an educational consultant,” said Ms Toonsi.
“It was then I realised my dream profession: to share the know-how of philosophical thinking and teaching with educators using the P4C discipline.”
P4C refers to a dialogical approach to teaching and learning that improves children's meta-thinking and improves their academic attainment through the exploration of an idea.
Raising her own five children led Ms Toonsi to acknowledge the value of self-learning and debate through dialogical teaching.
“Children, as philosophers, have so much to tell us and our future is going to be prosperous and promising,” she said.
Ms Toonsi is hopeful that this revolutionary model of teaching philosophical thinking can be a reality in every Saudi classroom.
“In order to reimagine our pedagogical vision of education, we need to adjust and set the bigger picture: how do we want our future generation to become more efficient leaders and responsible actors in our society?” she said.
Creating interest and desire among learners by giving them the gift of questioning is one part of the challenge, she argued — but the provision of a curriculum that sets the stage for an egalitarian relationship between teacher and learner in the frame of dialogue has yet to be adopted.
Even though the theme of the conference — organised by Saudi Arabia's Literature, Publishing, and Translation Commission — has focused heavily on the themes of space and time, knowledge and the quest to acquire it dominated workshops set up on the sidelines of the main event.
The conference also featured activities and workshops for young people, including a debate competition for college students under the theme of “Reading between the Lines.”
The three-day event provided young people with an outlet to engage in discussions with international academics as well as a space for children and young adults to participate in critical thinking activities in the Philosophers of Tomorrow pavilion and the Philosophical Camp.
The chief executive of the Literature, Publishing and Translation Commission, Dr Mohammed Alwan, explained that one of the aims of the conference had been to raise awareness in schools and universities in line with the Ministry of Education’s introduction of philosophy to the curriculum in public schools.
“As a father, I think children are philosophers by nature. They look at any situation from a different perspective,” Dr Alwan said.
“Their view is void of any preconceived ideas or notions, making them the perfect candidates to absorb and understand philosophical ideas and theories.”
In 2020, Saudi Education Minister Hamad Al Sheikh announced that philosophy and critical thinking courses were being added to the high school curriculum to encourage freedom of thought and promote tolerance among pupils.
Dr Alwan said it would be a waste not to invest in teaching philosophy and critical thinking at a young age.
“A child's mind is a lot more accepting of philosophy and critical thinking due to their tabula rasa — a clean slate — state of thinking,” he added.
“They don't have to adjust to thinking outside or inside the box. The box, for them, doesn't exist.”
The Riyadh Philosophy Conference is an expression of Saudi Arabia's goal to work in partnership with leading universities and academics throughout the world and establish itself as a major global centre of learning and knowledge.
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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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Omar Yabroudi's factfile
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