Hezbollah supporters look at a statue of Iranian general Qassem Suleimani, head of Iran's Quds force, installed in Ghobeiry, a southern suburb of Beirut, Lebanon, to commemorate the first anniversary of his killing in a US drone strike in Baghdad. AP Photo
A worker cleans a statue of Iranian general Qassem Soleimani in Ghobeiry, a southern suburb of Beirut, Lebanon. AP Photo
The statue of Iranian commander Qassem Suleimani in Ghobeiry was donated by Iranian artist Ali Rida Haqqani. AFP
Two women pose next to the newly unveiled statue of Iranian general Qassem Suleimani in Ghobeiry, Beirut. AFP
The statue of Qassem Suleimani was installed on a roundabout near Imam Khomeini avenue in Ghobeiry, Beirut. AP Photo
A Lebanese flag hangs from a building under construction behind the newly unveiled statue of Qassem Suleimani in the predominantly Shiite Beirut suburb of Ghobeiry. AFP
In the Hezbollah-controlled southern suburbs of Beirut, Iranian general Qassem Suleimani is the second person to have both a street named after him and a statue erected in his honour. The first was Abdul Karim Khalil, a Lebanese patriot hanged by the Ottomans in 1915.
The Ghobeiry municipality unveiled the 150-kilogram bronze statue on Tuesday on a roundabout near Imam Khomeini Avenue. Iranian artist Ali Rida Haqqani worked on it for three months before donating it to the municipality.
Most locals say they love it, but many others were shocked by the mayor’s initiative to honour a controversial foreign military figure.
Suleimani, the brain behind Iran’s paramilitary activities in Syria and Iraq, was assassinated on January 3, 2020, in Baghdad by a US air strike. For Hezbollah supporters, he must be honoured as a “martyr”.
On a sunny afternoon this week, a young man was placing stickers on the statue’s base. Three steps lead up to the dead general’s torso, whose name is inscribed on a golden plaque in the shape of a mosque.
The statue exudes confidence, with its eyes looking slightly upwards and its neck wrapped in a keffiyeh, the Palestinian traditional scarf.
The visitor, 31-year-old architect Mohammad Mahdi, designed the base, and wants to make it more imposing.
“I want to deepen some of the joints to increase the feeling of height and show that this is a person of high standing,” he said.
On his phone, Mr Mahdi showed his drawings of the statue, enhanced by red lights at night. “Red because he was a martyr,” he said. “It’s like on the Lebanese flag. The two red lines represent the blood of Lebanese martyrs.”
As he scrolled through his photos, a screenshot appeared of a critical tweet by Avichay Adraee, the Israeli army’s Arabic-speaking spokesman.
“Should we congratulate you for this Iranian occupation?” wrote the Israeli soldier.
Mr Mahdi scoffed, waving his hand dismissively.
As he inspected the statue, drivers slowed down to get a closer look.
Journalists visiting Ghobeiry are accompanied by a “policeman” from the municipality “to make sure that nobody bothers them with too many questions”.
But the enthusiasm residents expressed for the statue seemed genuine. “It’s an honour for us,” said Salam Hijaz, a woman in her forties, as she walked by. “Qassem Suleimani sacrificed a lot for Lebanon.”
“He helped us in the face of Israeli aggression and takfiri terrorists,” said Abu Mahdi Nazeh, standing in front of his shop selling granite, which was closed because of the coronavirus lockdown. “A statue is nothing much compared to what he did for Lebanon.”
“Takfiri” is a disparaging term used by supporters of Hezbollah, a highly militarised Lebanese political party, to describe Sunni Muslim extremists. They say that by supporting Syrian President Bashar Al Assad in the Syrian civil war, Iran and Hezbollah shielded Lebanon from groups like ISIS. But critics say that they have the blood of civilians on their hands.
“Hezbollah seems pretty damn desperate to make late Iranian General Qassem Suleimani a local hero, despite knowing that for the majority of people in Lebanon, he simply represents a foreign power,” tweeted Lebanese analyst and civil society member Nizar Hassan on the day the statue was unveiled.
“Why are they bothering us with an Iranian general? Don’t we have enough problems already?” complained an international NGO worker who asked to remain anonymous, referring to Lebanon’s many ills: hyperinflation, devaluation of its local currency, and the lack of a fully functioning government since a deadly explosion at Beirut port last August.
But for Ghobeiry’s mayor, Maan Khalil, the municipality’s decision to install a statue honouring Suleimani simply reflects the desire of its constituents.
"We are democratically elected and we can express our opinions," he told The National.
He pointed out that some streets in Beirut still bear names of French generals who held power in Lebanon during the French mandate (1923-1943): Henri Gouraud, Maxime Weygand and Ferdinand Foch.
Mr Khalil listed all the deceased figures that the Ghobeiry municipality decided to honour with a street name: Ayatollah Ruhollah Khomeini, founder of the Islamic Republic of Iran; Hezbollah military chief Imad Mughnieh; former Syrian president Hafez Al Assad; founder of Lebanese political party Amal, Moussa Sadr; one of his close colleagues, Iranian politician Mostafa Chamran; a Hezbollah member imprisoned for the brutal killing of an Israeli family, Samir Kuntar; former Hezbollah leader Abbas Al Moussawi; and Hadi Hassan Nasrallah, the son of the party’s current secretary general who was killed fighting Israel.
Abdul Karim Khalil, who died more than 100 years ago, was the only one with no link to Hezbollah
Not everyone in Ghobeiry agrees with Mr Khalil. Lokman Slim, a researcher and Hezbollah critic, dismissed the mayor's attempts to downplay the significance of the Suleimani statue.
“Hezbollah says it’s harmless. But it’s not. It’s occupation of public space,” he said. Mr Slim pulled out a folder filled with pictures of the general and car stickers bearing his picture.
“The day before the inauguration of the statue, they distributed this kind of stuff all over the street,” he said.
“Hezbollah used to be against statues,” Mr Slim pointed out. In the early eighties, when Hezbollah was being set up by the Islamic Revolutionary Guard, it destroyed two statues in the eastern city of Baalbek representing former Egyptian president Gamal Abdel Nasser and local poet Khalil Moutran.
“They have changed strategy. They need a physical statement,” Mr Slim said.
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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.”