Rebel fighters operate an anti-aircraft weapon on the front line near Aleppo against forces loyal to Syrian President Bashar Al Assad. Photo: Reuters
Rebel fighters operate an anti-aircraft weapon on the front line near Aleppo against forces loyal to Syrian President Bashar Al Assad. Photo: Reuters
Rebel fighters operate an anti-aircraft weapon on the front line near Aleppo against forces loyal to Syrian President Bashar Al Assad. Photo: Reuters
Rebel fighters operate an anti-aircraft weapon on the front line near Aleppo against forces loyal to Syrian President Bashar Al Assad. Photo: Reuters

Lebanese authorities ‘free Deraa detainees’


Aya Iskandarani
  • English
  • Arabic

Six Syrian dissidents who were detained near their country’s embassy in Beirut over a month ago were freed by Lebanese authorities on Tuesday, their lawyer said.

Five of them are former fighters from the rebel enclave of Deraa, which fell to regime forces last month. They had fled to Beirut fearing for their lives. Their lawyer said their release ends concerns they may be returned to Syria, where they face prison and death.

“The six detainees have all been freed,” Mohamad Sablouh said by phone.

General Security Chief Abbas Ibrahim said last month that Lebanese authorities would not deport the men to Syria.

He had issued an order for their release four weeks ago that had not been enforced until Tuesday, Mr Sablouh said.

Lebanese authorities had detained the men for entering the country illegally.

Four of the six men were heading to the Syrian embassy to collect their passports when they disappeared in August. The remaining two were trying to secure travel documents prior to their arrest.

They were hoping to reach a third country after fleeing Syria.

But the men may have to stay in Lebanon temporarily because they have yet to access or secure their passports. Mr Sablouh said he managed to secure a passport for Ammar Kozah, the only former detainee who is not from Deraa.

“He has been instructed to get back to General Security in 15 days, after we secured his passport and handed it over to General Security,” he said.

Mr Sablouh previously told The National that the Syrian embassy had set a “trap” for at least four of his clients, who went there in August after receiving calls to collect their passports and were kidnapped metres away by unknown assailants.

He filed a complaint on behalf of his clients last month for arbitrary arrest, enforced disappearance, detention without any legal justification, and evidence of torture.

The National reviewed a copy of the complaint in which four of Mr Sablouh’s clients say that men with Syrian accents blindfolded and abducted them near the embassy.

They said the men interrogated them in an unknown location before handing them over to Lebanese authorities.

Lebanon was under Syrian tutelage for nearly 30 years until 2005. The Iran-backed Hezbollah remains a close ally of Syrian President Bashar Al Assad since those days.

The armed group and political party wields great influence in Lebanon and militarily backs the Syrian army in the country’s civil war, in Deraa and elsewhere.

The rules on fostering in the UAE

A foster couple or family must:

  • be Muslim, Emirati and be residing in the UAE
  • not be younger than 25 years old
  • not have been convicted of offences or crimes involving moral turpitude
  • be free of infectious diseases or psychological and mental disorders
  • have the ability to support its members and the foster child financially
  • undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
  • A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
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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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Sector: FinTech
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Updated: October 12, 2021, 6:07 PM