The interior of the Prophet's Mosque in Madinah. SPA
The interior of the Prophet's Mosque in Madinah. SPA
The interior of the Prophet's Mosque in Madinah. SPA
The interior of the Prophet's Mosque in Madinah. SPA

Muharram 2023: When is Ashura fasting and what does it mean?


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Many Muslims fast on the day of Ashura, following the tradition of the Prophet Mohammed, in hopes to expiate their sins from the past year.

What is Ashura's significance?

Muslims around the world can choose to fast on the day of Ashura, as the Prophet Mohammed did, hoping their sins of the past year will be forgiven.

Fasting on the day of Ashura is not obligatory for every Muslim, unlike the requirement to fast throughout Ramadan.

According to hadith, or sayings attributed to the Prophet Mohammed (specifically those cited by Islamic scholar Sahih Bukhari), when the Prophet Mohammed arrived in Madinah, he found the Jews fasting on the day of Ashura.

When he inquired about it, they said: “This is a righteous day, it is the day when Allah saved the children of Israel from their enemies, so Prophet Musa fasted on this day.”

When the Prophet Mohammed found out it was the day Prophet Musa fasted to thank Allah, he also fasted on the day of Ashura and asked fellow Muslims to join him in honour of Prophet Musa.

The Ashura also commemorates the day Allah saved Prophet Nuh, referred to as Noah in Christian teachings, and his believing companions in the Ark, and the day Allah accepted the repentance of Adam after his exile from Paradise.

It also coincides with the day on which Hussain bin Ali, the grandson of the Prophet Mohammed was killed in the battle of Karbala in 680AD, so many Muslims consider it a day of mourning.

When is it?

Ashura (meaning the 10th) falls on the 10th day of the month of Muharram in the Hijri calendar, which coincides with Friday, July 28, this year. Muharram is the first month of the Hijri calendar and is one of the holiest months in the Islamic calendar.

Muharram is one of four months – the other three being Dhu Al Qadah, Dhu Al Hijjah and Rajab – that are considered sacred.

What do Muslims do on Ashura?

Muslims typically fast on the day of Ashura. Some fast for two days consecutively, meaning Thursday and Friday or Friday and Saturday.

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Germany, Portugal, Belgium, Spain, France, England, Switzerland, Italy, Poland, Iceland, Croatia, Netherlands

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Austria, Wales, Russia, Slovakia, Sweden, Ukraine, Republic of Ireland, Bosnia-Herzegovina, Northern Ireland, Denmark, Czech Republic, Turkey

League C:
Hungary, Romania, Scotland, Slovenia, Greece, Serbia, Albania, Norway, Montenegro, Israel, Bulgaria, Finland, Cyprus, Estonia, Lithuania

League D:
Azerbaijan, Macedonia, Belarus, Georgia, Armenia, Latvia, Faroe Islands, Luxembourg, Kazakhstan, Moldova, Liechtenstein, Malta, Andorra, Kosovo, San Marino, Gibraltar

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Meatless Days
Sara Suleri, with an introduction by Kamila Shamsie
​​​​​​​Penguin 

RESULT

Argentina 0 Croatia 3
Croatia: 
Rebic (53'), Modric (80'), Rakitic (90' 1)

The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

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.”

WandaVision

Starring: Elizabeth Olsen, Paul Bettany

Directed by: Matt Shakman

Rating: Four stars

Race card

4pm Al Bastakiya Listed US$300,000 (Dirt) 1,900m

4.35pm Mahab Al Shimaal Group 3 $350,000 (D) 1,200m

5.10pm Nad Al Sheba Turf Group 3 $350,000 (Turf) 1,200m

5.45pm Burj Nahaar Group 3 $350,000 (D) 1,600m

6.20pm Jebel Hatta Group 1 $400,000 (T) 1,800m

6.55pm Al Maktoum Challenge Round-3 Group 1 $600,000 (D) 2,000m

7.30pm Dubai City Of Gold Group 2 $350,000 (T) 2,410m

The National selections:

4pm Zabardast

4.35pm Ibn Malik

5.10pm Space Blues

5.45pm Kimbear

6.20pm Barney Roy

6.55pm Matterhorn

7.30pm Defoe

SQUADS

India
Virat Kohli (captain), Rohit Sharma (vice-captain), Shikhar Dhawan, Ajinkya Rahane, Manish Pandey, Kedar Jadhav, Dinesh Karthik, Mahendra Singh Dhoni (wicketkeeper), Hardik Pandya, Axar Patel, Kuldeep Yadav, Yuzvendra Chahal, Jasprit Bumrah, Bhuvneshwar Kumar, Shardul Thakur

New Zealand
Kane Williamson (captain), Martin Guptill, Colin Munro, Ross Taylor, Tom Latham (wicketkeeper), Henry Nicholls, Ish Sodhi, George Worker, Glenn Phillips, Matt Henry, Colin de Grandhomme, Mitchell Santner, Tim Southee, Adam Milne, Trent Boult

Updated: July 27, 2023, 4:21 AM