Thousands of pilgrims are arriving in Saudi Arabia every day ahead of Hajj season.
This year, the Ministry of Hajj and Umrah has launched the “Proclaim to the People” initiative. It is being used as a hashtag in all social media posts.
The ministry regularly uploads videos on social media to guide pilgrims on the etiquette and rituals of Hajj.
From “not leaving your belongings” to “keeping your official documents safely with you”, the ministry hopes this will help guide first-time pilgrims.
Where did 'Proclaim to the People' come from?
The slogan echoes the call made by God in the Quran to the Prophet Ibrahim and the Prophet Mohammed, to inform Muslims around the world of the Hajj pilgrimage.
In the holy Quran, God commands Muslims to perform Hajj once in their lifetime.
“And proclaim the Hajj to all the people: they will come to you on foot and on lean camels, coming from distant places,” the Quran says.
The verse signifies the importance of the Hajj pilgrimage for Muslims, regardless of their race. It is mandatory for all Muslims who are financially and physically able.
The term “lean camels” refers to what was then the main mode of transport, by which pilgrims would arrive in Makkah.
A ministry official said the campaign was launched to help signify the importance of service for Hajj, which is an honour for Saudi Arabia and its people.
Khalid Osamah, a Hajj operator in Jeddah, told The National that “Proclaim to the People” is a slogan that “defines the kingdom's position while managing Hajj”.
“Because Hajj is compulsory, you have to come any way possible,” he said.
“Back then it was on foot, camels and now through modern transportation. But one already knows it will be a strenuous journey, not easy.
“And so we are here to guide pilgrims who are coming for the first time in their lives how to properly perform all rituals. We also have male and female guides in every camp to help clear any queries.”
A video posted by the ministry on Twitter last week demonstrates how to wear the Ihram, the two white pieces of unstitched cloth worn by male pilgrims.
Pilgrims should be particularly careful this year with Hajj taking place in summer and temperatures expected to reach 50°C, the ministry said.
Another video shows a passport falling out of a bag carried by a pilgrim, with a message saying “take care and safeguard your belongings”.
Hussein Taha, secretary general of the Organisation of Islamic Co-operation, said that two million pilgrims from 57 countries will perform Hajj this year, numbers last seen before the pandemic.
On Tuesday, the OIC will meet Saudi Minister of Hajj and Umrah Tawfiq Al Rabiah. The meeting, attended by delegates, representatives and consuls of OIC member states, aims to highlight the “tremendous efforts made by Saudi Arabia to serve pilgrims”.
Mr Al Rabiah will speak about measures taken to ensure a well-organised Hajj.
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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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Bayern: Coman (27'), Goretzka (42'), Gnabry (45'), Lewandowski (66')
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