Prominent Lebanese figures are calling for a boycott of Hezbollah after the murder of one of the militia's most vocal critics.
The declaration published last Thursday came after Lokman Slim, a publisher, filmmaker and critic of the group, was shot dead in southern Lebanon.
Signatories say Lebanon's collapse is "primarily due to Hezbollah's control of the country and protection of institutionalised criminality and corruption”.
“We do not and will not accept a representation of Hezbollah in government,” the document reads.
The powerful Iran-funded militia holds sway over political life in Lebanon and is the only group that kept its weapons after the end of a 15-year civil war in 1990.
Signed by more than 300 lawyers, journalists, religious figures and intellectuals, the petition urges foreign governments and international institutions to boycott Hezbollah and the ministries it controls until it lays down its arms.
It was written by the Rally for the Revolution, or TMT, a group born from the mass anti-government protest movement that swept the country in October 2019.
Slim's murder sparked fears of a new wave of assassinations against those who oppose Hezbollah, and erosion of freedom of speech.
Lebanon has been run by a caretaker Cabinet for the past six months as political leaders argue over their share of ministerial portfolios amid an economic meltdown.
The country has since 2019 been in financial crisis, caused mainly by decades of mismanagement and corruption.
A cross-sectarian group of people signed the statement, dedicated "to the spirit of Lokman Slim".
They accused Hezbollah of killing "the symbols of a free Lebanon”, putting Slim in a long line of murdered writers, journalists and politicians.
His murder harks back to an era of high-profile assassinations against detractors of the Syrian regime and its Iran-backed ally, which culminated in the murder of former premier Rafik Hariri in 2005.
This week was the 16th anniversary of his killing at the hands of a Hezbollah operative who remains at large.
Among the signatories are Shiite religious figures from southern Lebanon, the Hezbollah stronghold where Slim was killed.
They include Sayyed Hassan Al Amine whose father, cleric Sayyed Ali Al Amine, is well known for his work on religious tolerance.
He was the target of intimidation, threats and a court case for "stirring sectarian discord", all of which he says are politically motivated.
Another high-profile signatory is Fares Souaid, a former member of Parliament and longtime adversary of Hezbollah.
Mr Souaid was a figurehead of the March 14 political alliance that opposed the group after Hariri’s assassination.
Chibli Mallat, a lawyer and former presidential candidate who co-founded TMT, also signed the petition.
Gisele Khoury, a prominent journalist and the wife of slain writer Samir Kassir, killed the same year as Hariri, endorsed the petition.
Journalists criticising Hezbollah say they face legal action and intimidation.
Pro-Hezbollah lawyers filed a complaint against TV host Dima Sadek after she accused the group of orchestrating Slim's murder.
The TV station Sadek works for was blocked in areas Hezbollah controls after the killing.
An outspoken Hezbollah critic, Sadek has faced threats and harassment for years.
In response, the parliamentary media committee convened on Wednesday to discuss criticism of Hezbollah in the media after Slim’s murder.
Imad Salamey, associate professor at the Lebanese American University, said those speaking out were courageous because more violence might be looming.
“Violent campaigns are very likely because we are on the eve of three elections next year: presidential, parliamentary and municipal elections," Mr Salamey said.
He expects violence to increase to prepare the ground for a possible presidential bid by Gebran Bassil, leader of the Hezbollah-allied Free Patriotic Movement and one of the figures most despised by the protest movement.
Mr Bassil is also the son-in-law of President Michel Aoun, described in Thursday's statement as "Hezbollah’s ally and enabler”.
His alliance with the group, now in its 15th year, helped him to the presidency in 2016.
Calls for a boycott of Hezbollah are symbolically powerful at a time when detractors face violence, but Mr Salamey said they would have little real effect.
The question of whether to disarm Hezbollah "is decided in Tehran, not in Beirut", he told The National.
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New UK refugee system
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- To encourage refugees to integrate the government will encourage them to out of the core protection route wherever possible.
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Founders: Sanad Yaghi, Ali Al Sayegh and Shadi Joulani
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Investors: Global Founders Capital, Colle Capital Partners, Wamda Capital, Plug and Play, Comma Capital, Nowais Capital, Annex Investments and AMK Investment Office
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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Zakat definitions
Zakat: an Arabic word meaning ‘to cleanse’ or ‘purification’.
Nisab: the minimum amount that a Muslim must have before being obliged to pay zakat. Traditionally, the nisab threshold was 87.48 grams of gold, or 612.36 grams of silver. The monetary value of the nisab therefore varies by current prices and currencies.
Zakat Al Mal: the ‘cleansing’ of wealth, as one of the five pillars of Islam; a spiritual duty for all Muslims meeting the ‘nisab’ wealth criteria in a lunar year, to pay 2.5 per cent of their wealth in alms to the deserving and needy.
Zakat Al Fitr: a donation to charity given during Ramadan, before Eid Al Fitr, in the form of food. Every adult Muslim who possesses food in excess of the needs of themselves and their family must pay two qadahs (an old measure just over 2 kilograms) of flour, wheat, barley or rice from each person in a household, as a minimum.
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