Cleric Moqtada Al Sadr has again upended Iraqi politics this week after his followers clashed with rival militias and occupied parliament and key buildings in the Green Zone, the seat of the Iraqi government which hosts foreign embassies.
Mr Al Sadr's long rivalry with former prime minister Nouri Al Maliki led to gun battles on Monday night, when militias in the Co-ordination Framework, which includes Mr Al Maliki, mobilised to break up protests.
The violence, which set Iran-linked groups linked to the Co-ordination Framework against Mr Al Sadr's followers, came after the cleric withdrew from politics for the third time since 2003, protesting what he said was widespread corruption and illegal challenges to his attempt at forming the next government.
He blamed the Co-ordination Framework for using tactics similar to the staging of a coup, but backed down after at least 30 people were killed, asking his forces to retreat.
Like militias linked to the Co-ordination Framework, Mr Al Sadr's group is widely accused of kidnapping, torturing and killing civilians during Iraq’s civil war and killing hundreds of protesters in 2019.
The Iran-backed groups, such as Asaib Ahl Al Haq, fought street battles with Mr Al Sadr's militia in Baghdad between 2012 and 2014.
Since then, rivalry has involved assassinations of members from both groups.
The recent standoff has led to fears of another civil war — this time setting Shiite against Shiite.
Who is Moqtada Al Sadr?
The cleric has long claimed to fight corruption and oppression, whether it is that of the Saddam Hussein regime or, after 2003, the US.
Through numerous protests between 2016 and 2020, he aligned his movement with Iraqi Communists and youth protest groups, calling for “a revolution of the oppressed” that could put an end to Iraq’s system of sectarian apportionment in government and usher in public service based on quality rather than identity.
His father-in-law, revered cleric Grand Ayatollah Muhammad Baqir Al Sadr, was murdered along with his wife by Iraq’s Baathists.
His father, Muhammad Sadiq Al Sadr, was shot dead by Baathist agents in 1999, sparking a second Shiite uprising against Saddam.
This heritage of suffering and religious piety gave Moqtada Al Sadr folk hero status among Iraq’s Shiite poor and he inherited a southern network of Sadrists stretching into the slums of Baghdad’s crowded suburban Saddam City (now Sadr City).
Is he really an outsider fighting corruption?
“In the background, Sadrist loyalists have embedded themselves in the bureaucracy. There has been some good reporting on this, on the 'deep state' and Sadrist penetration thereof,” said Nicholas Krohley, author of The Death of the Mehdi Army: The Rise, Fall, and Revival of Iraq's Most Powerful Militia.
Krohley refers to revelations over the years that Mr Al Sadr controls sections of Iraq’s Ministry of Electricity, abusing contracts to raise funds, and controls much of the Ministry of Health, a legacy of when his militia, the Jaish Al Mahdi, took control of it between 2005 and 2007.
The group was widely accused of sectarian murders in hospital wards, selling medicine on the black market and driving away many of Iraq’s talented health workers.
But Mr Al Sadr has tried to distance himself from this period, disbanding the Jaish Al Mahdi, withdrawing ministers and MPs from government on many occasions as an act of protest against what he deems mainstream political groups — mainly his rivals in Mr Al Maliki's Dawa party and their Iran-backed allies in the Badr Organisation.
With the latter group, Mr Al Sadr’s supporters fought a series of gun battles in Karbala in 2007 that left 50 dead.
But analysts said his outsider image is a fiction.
In reality, the cleric has always maintained a strong network of supporters in senior government positions.
When Baghdad’s Ibn Al Khatib hospital caught fire — killing nearly 90 people in a tragedy widely blamed on negligence — Mr Al Sadr’s nominated health minister Hassan Al Tamimi was removed from his post.
A health official told The National that the hospital, along with most health facilities in Rusafa, where Sadr City is located, was run by the movement.
When a similar blaze occurred in July last year, killing 92 people in Nasiriyah, tribal leaders blamed local Sadrists in the health authority, giving them three days to leave the province.
The cleric has also tried to distance himself from militia crimes during Iraq’s sectarian strife between 2003 and 2008.
Sensitive to the fact that he reformed his old militia, renamed Saraya Al Salam during the war on ISIS, Mr Al Sadr said he would disband the group in 2017, but it remains active.
Commander Abu Mustafa Al Hamidawi ordered members to be “prepared for any emergency” in Baghdad on July 24.
Some analysts said Mr Al Sadr only has loose control over this armed group and at least three splinter factions have emerged.
Hakim Al Zamili, former deputy parliament speaker and deputy minister of health — arrested by the US for running sectarian death squads when working in the Health Ministry, last year said the kidnap and murder strategy his militia used had helped to “defeat terrorism”. Mr Al Zamili recently joined protesters in Iraq’s Parliament.
Al Sadr against Iran
To some, Mr Al Sadr is a useful bulwark against increasingly powerful Iranian-backed political parties.
Their power soared after 2014, when Mr Al Maliki formalised Iran-backed militias as part of the security services, wrapping them into an umbrella organisation, the Popular Mobilisation Forces (PMF).
But it meant that two rival sets of militias — US-listed terrorist organisations such as Kataib Hezbollah and Asaib Ahl Al Haq, as well as a host of smaller groups — were now in the same formation as Saraya Al Salam.
Bitter disputes over salaries between the groups ensued, at one point leading to the assassination of a government-appointed PMF auditor.
Now the prize, after 10 months of stalled government formation, is control over Iraqi state resources — Shiite parties lead the competition for everything from PMF salaries and pensions to controlling entire state-owned companies.
Will there be another civil war?
“None of what’s happening is usual. This has been uncharted territory since Sadr pulled his followers [MPs] out of Parliament,” said Omar Al Nidawi, programme director at US NGO Enabling Peace in Iraq Centre.
“Both Sadr and the Co-ordination Framework are taking shots in the dark to see what works. The difference is the Framework seems to be finding it more difficult to agree on a united course of action. This may explain the brief protest on Monday and decision to pull back after 'delivering the message'.”
But Mr Al Nidawi is sceptical of the prospect of full-scale war.
“We’re unlikely to see Co-ordination Framework factions decide they want to take on the Sadrists in an armed conflict.” he said.
Joel Wing, an analyst who has tracked violence in Iraq since 2008, agrees that Iraq’s intra-Shiite competition now extends beyond Iran’s reach.
“The driving force in all this escalation is Maliki, not Iran. Everyone knows Maliki is an autocrat full of conspiracies who will turn on anyone and use the power of the state,” he said, referring to Mr Al Maliki’s considerable influence behind the scenes in Iraq’s politics.
But Mr Wing said there will be no winners.
“Sadr could be just as big a threat to everyone as Maliki was, if he’s in the driver's seat,” he said.
In the long run, “time is on Moqtada’s side”, Krohley said. He notes Iraq’s rapidly growing population which swells the ranks of unemployed with each year of government failure.
This will always boost the appeal of Mr Al Sadr’s populist brand, he said.
“It's demographics. The Sadrist base keeps growing in Iraq, in absolute and relative terms. No other political faction has had any luck in peeling away meaningful numbers of Sadrist followers.
“The 'resistance' IRGC-linked PMF types have utterly failed. So, Moqtada still sits at the head of what is, and seems very likely to remain, the dominant political force in Iraq.”
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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.”
Company profile
Date started: December 24, 2018
Founders: Omer Gurel, chief executive and co-founder and Edebali Sener, co-founder and chief technology officer
Based: Dubai Media City
Number of employees: 42 (34 in Dubai and a tech team of eight in Ankara, Turkey)
Sector: ConsumerTech and FinTech
Cashflow: Almost $1 million a year
Funding: Series A funding of $2.5m with Series B plans for May 2020
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Company%20profile
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Financial considerations before buying a property
Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.
“If it’s a rental property, plan for the property to have periods when it does not have a tenant. Ensure you have enough cash set aside to pay the mortgage and other costs during these periods, ideally at least six months,” she says.
Also, shop around for the best mortgage interest rate. Understand the terms and conditions, especially what happens after any introductory periods, Ms Glynn adds.
Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier.
What are NFTs?
Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.
You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”
However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.
This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”
This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
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Simran
Director Hansal Mehta
Stars: Kangana Ranaut, Soham Shah, Esha Tiwari Pandey
Three stars
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
COMPANY%20PROFILE
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Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The Vile
Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah
Director: Majid Al Ansari
Rating: 4/5
T20 WORLD CUP QUALIFIERS
Qualifier A, Muscat
(All matches to be streamed live on icc.tv)
Fixtures
Friday, February 18: 10am Oman v Nepal, Canada v Philippines; 2pm Ireland v UAE, Germany v Bahrain
Saturday, February 19: 10am Oman v Canada, Nepal v Philippines; 2pm UAE v Germany, Ireland v Bahrain
Monday, February 21: 10am Ireland v Germany, UAE v Bahrain; 2pm Nepal v Canada, Oman v Philippines
Tuesday, February 22: 2pm Semi-finals
Thursday, February 24: 2pm Final
UAE squad:Ahmed Raza(captain), Muhammad Waseem, Chirag Suri, Vriitya Aravind, Rohan Mustafa, Kashif Daud, Zahoor Khan, Alishan Sharafu, Raja Akifullah, Karthik Meiyappan, Junaid Siddique, Basil Hameed, Zafar Farid, Mohammed Boota, Mohammed Usman, Rahul Bhatia
Other key dates
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Finals draw: December 2
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Finals (including semi-finals and third-placed game): June 5–9, 2019
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Euro 2020 play-off draw: November 22, 2019
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Euro 2020 play-offs: March 26–31, 2020
Killing of Qassem Suleimani