• Libyan Prime Minister Abdul Hamid Dbeibah and Turkish Foreign Minister Mevlut Cavusoglu attend the second international Libya conference in Berlin, Germany. EPA
    Libyan Prime Minister Abdul Hamid Dbeibah and Turkish Foreign Minister Mevlut Cavusoglu attend the second international Libya conference in Berlin, Germany. EPA
  • The conference ha brought together representatives from the UN Security Council, the Libyan unity government and Turkey, as well as various countries in the Mena region. Getty
    The conference ha brought together representatives from the UN Security Council, the Libyan unity government and Turkey, as well as various countries in the Mena region. Getty
  • Russian deputy minister of foreign affairs Sergey Vershinin attends the conference. EPA
    Russian deputy minister of foreign affairs Sergey Vershinin attends the conference. EPA
  • The conference has been held to assess and promote progress towards definitively ending the conflict in Libya. Getty
    The conference has been held to assess and promote progress towards definitively ending the conflict in Libya. Getty
  • US Secretary of State Antony Blinken, German Foreign Minister Heiko Maas and British Minister of State for the Middle East and North Africa James Cleverly were among those who attended. EPA
    US Secretary of State Antony Blinken, German Foreign Minister Heiko Maas and British Minister of State for the Middle East and North Africa James Cleverly were among those who attended. EPA
  • It was the second conference on Libya to be held in Berlin in 18 months. EPA
    It was the second conference on Libya to be held in Berlin in 18 months. EPA
  • Mr Blinken represented the government of US President Joe Biden at the talks. AP
    Mr Blinken represented the government of US President Joe Biden at the talks. AP
  • Senior officials gather for the conference. EPA
    Senior officials gather for the conference. EPA

Libya unity government faces deadlock over draft constitution


  • English
  • Arabic

Libya’s troubled peace process is approaching a crunch point, with a decision needed within days if elections planned for December are to go ahead.

If the elections are scrapped, or even delayed, there is a risk the country will return to civil war.

Back in March, Libya’s parliament agreed elections should be held on December 24, the 70th anniversary of Libya’s independence, and it appointed a temporary administration, the Government of National Unity (GNU) to run the country until then.

The GNU has succeeded in becoming the country’s sole government, replacing rival administrations that had existed in west and east Libya. However, its mandate ends in December and, if there are no elections by then, Libya is likely to split again along an east/west axis.

Libya’s factious parliament has failed to agree the kind of government to be elected in December, and election organisers the High National Election Commission say a decision is needed on or around July 1. This is because before it can organise the December vote, it is supposed to organise a referendum to approve whatever constitution parliament decides on.

A draft constitution has already been drawn up by the country’s Constitutional Assembly, but the crucial question undecided is whether Libya should have a president appointed by parliament, or directly elected.

A directly elected president would have considerable power, and in a divided country reeling from six years of civil war, whoever is chosen is likely to be strongly opposed by a sizeable minority.

  • Libyan Field Marshal Khalifa Haftar, House of Representatives speaker Aguila Saleh, and GNA Prime Minister Fayez Al Sarraj attend a peace conference hosted by France in May 2018. AFP
    Libyan Field Marshal Khalifa Haftar, House of Representatives speaker Aguila Saleh, and GNA Prime Minister Fayez Al Sarraj attend a peace conference hosted by France in May 2018. AFP
  • Fighters from the Libyan Government of National Accord (GNA) stand guard on June 20, 2021, in the town of Buwairat Al Hassoun. AFP
    Fighters from the Libyan Government of National Accord (GNA) stand guard on June 20, 2021, in the town of Buwairat Al Hassoun. AFP
  • Zahra Langhi and other women have called for changes to the UN Libya peace process. Getty
    Zahra Langhi and other women have called for changes to the UN Libya peace process. Getty
  • Refugees mostly from Darfur, Sudan are gathered in the courtyard of the place where they live in Gorgi district, south of Tripoli. Migrants and refugees are often living in dire conditions, in dilapidated buildings or small unfinished houses deprived of basic services.
    Refugees mostly from Darfur, Sudan are gathered in the courtyard of the place where they live in Gorgi district, south of Tripoli. Migrants and refugees are often living in dire conditions, in dilapidated buildings or small unfinished houses deprived of basic services.
  • Turkish President Recep Tayyip Erdogan and Italian Prime Minister Giuseppe Conte speak on the sideline of the conference on Libya at the Chancellery in Berlin in January. ,AP
    Turkish President Recep Tayyip Erdogan and Italian Prime Minister Giuseppe Conte speak on the sideline of the conference on Libya at the Chancellery in Berlin in January. ,AP
  • Destroyed buildings are seen through a hole in Benghazi lighthouse after it was severely damaged by years of armed conflict in 2019. Reuters
    Destroyed buildings are seen through a hole in Benghazi lighthouse after it was severely damaged by years of armed conflict in 2019. Reuters
  • Field Marshal Khalifa Haftar's Haftar greets French President Emmanuel Macron in Berlin in January. AFP
    Field Marshal Khalifa Haftar's Haftar greets French President Emmanuel Macron in Berlin in January. AFP
  • A fighter loyal to the Libyan internationally-recognised Government of National Accord fires a heavy machine gun as a press photographer take pictures of the scene during clashes against forces loyal to Field Marshal Khalifa Haftar. AFP
    A fighter loyal to the Libyan internationally-recognised Government of National Accord fires a heavy machine gun as a press photographer take pictures of the scene during clashes against forces loyal to Field Marshal Khalifa Haftar. AFP
  • Conflict in and around Tripoli continues. Reuters
    Conflict in and around Tripoli continues. Reuters
  • German Chancellor Angela Merkel, German Foreign Minister Heiko Maas and Secretary-General of the United Nations Antonio Guterres leave after a press conference at the end of a Peace summit on Libya at the Chancellery in Berlin on January. AFP
    German Chancellor Angela Merkel, German Foreign Minister Heiko Maas and Secretary-General of the United Nations Antonio Guterres leave after a press conference at the end of a Peace summit on Libya at the Chancellery in Berlin on January. AFP
  • Greek Prime Minister Mitsotakis talks with Commander of the Libyan National Army Khalifa Haftar during their meeting in Parliament, in Athens, Greece in January 2020. EPA
    Greek Prime Minister Mitsotakis talks with Commander of the Libyan National Army Khalifa Haftar during their meeting in Parliament, in Athens, Greece in January 2020. EPA
  • Field Marshal Khalifa Haftar speaking in a video published by the War Information Division of the Libyan National Army on April 28, 2020. AFP PHOTO / LNA WAR INFORMATION DIVISION
    Field Marshal Khalifa Haftar speaking in a video published by the War Information Division of the Libyan National Army on April 28, 2020. AFP PHOTO / LNA WAR INFORMATION DIVISION

Libya’s leaders all say they want the elections held on time. GNU prime minister Abdul Hamid Al Dabaiba reiterated they were essential during a meeting on Friday in London with British prime minister Boris Johnson.

The same day, parliament’s speaker Ageela Saleh, holding talks in Morocco, confirmed the election date must be kept. The Libyan people feel the same way, according to a survey released last week by the US government agency USAID which showed 64 per cent want the elections held on time, even if this means not having a referendum on the constitution.

Outside powers are pushing Libya’s parliament to make a decision before July 1.

Last week US Secretary of State Antony Blinken joined foreign ministers and diplomats from a dozen states, including the UAE, at a conference in Berlin to urge Libya’s parliamentarians to pass an election law. The European Union announced the same week it will consider imposing sanctions on any Libyan leaders obstructing the process.

Meanwhile, the UN’s Libya envoy, Jan Kubis, has suggested a way out of the constitutional labyrinth. If parliament cannot agree the constitution, a mediation group, the Libyan Political Dialogue Forum (LPDF) can do it instead.

The LPDF, composed of Libyan leaders from across the political spectrum, was set up last year by the UN to design the existing GNU. An option being explored is that, if parliament will not make a constitution decision by July 1, the LPDF should do it instead, authorising the constitution as a temporary measure, with whatever parliament is elected deciding later if it wants to make the constitution permanent.

“This could be an interim arrangement to enable the country to go to elections in December and move beyond the current transitional phase,” Mr Kubis said in an address to the LPDF last week.

Foreign fighters

Finding a way out of the constitutional wilderness is seen by diplomats as vital because of a second problem: the failure of foreign forces to withdraw on time.

A key part of the UN-mediated ceasefire agreed last October was that foreign forces withdraw within 90 days. The UN says Libya is home to more than 20,000 foreign military personnel and mercenaries, but none have withdrawn.

The UN’s Panel of Experts, which issues an annual report on Libya’s military situation, reported earlier this year that these forces include Turkish military personnel and mercenaries from Chad, Sudan, Syria and a Russian private military contractor, Wagner. Many of these forces are deployed either side of a ceasefire line running south from the central coastal town of Sirte.

“The Libyans are clear: They want everybody (foreign forces) out,” said US Acting Secretary of State for Near Eastern Affairs Joey Hood at a press briefing on Thursday. “The Libyan ceasefire agreement calls for the withdrawal of all foreign fighters and mercenaries, no exceptions.”

Libya’s foreign minister Najla Mangoush called at the Berlin conference for the removal of these forces “without delay.” However, the military establishments in Libya are outside GNU control, and so far have not ordered their foreign allies out.

Diplomats agree privately that the best way to convince foreign units to quit Libya is by ending the possibility of civil war and hence their reason for being there. For Libya’s peace process, all roads lead to the December elections.

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

Mountain%20Boy
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Zainab%20Shaheen%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Naser%20Al%20Messabi%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3C%2Fstrong%3E%3A%203%2F5%3C%2Fp%3E%0A

Name: Colm McLoughlin

Country: Galway, Ireland

Job: Executive vice chairman and chief executive of Dubai Duty Free

Favourite golf course: Dubai Creek Golf and Yacht Club

Favourite part of Dubai: Palm Jumeirah

 

All%20The%20Light%20We%20Cannot%20See%20
%3Cp%3E%3Cstrong%3ECreator%3A%20%3C%2Fstrong%3ESteven%20Knight%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%C2%A0%3C%2Fstrong%3EMark%20Ruffalo%2C%20Hugh%20Laurie%2C%20Aria%20Mia%20Loberti%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E1%2F5%C2%A0%3C%2Fp%3E%0A
'Young girls thinking of big ideas'

Words come easy for aspiring writer Afra Al Muhairb. The business side of books, on the other hand, is entirely foreign to the 16-year-old Emirati. So, she followed her father’s advice and enroled in the Abu Dhabi Education Council’s summer entrepreneurship course at Abu Dhabi University hoping to pick up a few new skills.

“Most of us have this dream of opening a business,” said Afra, referring to her peers are “young girls thinking of big ideas.”

In the three-week class, pupils are challenged to come up with a business and develop an operational and marketing plan to support their idea. But, the learning goes far beyond sales and branding, said teacher Sonia Elhaj.

“It’s not only about starting up a business, it’s all the meta skills that goes with it -- building self confidence, communication,” said Ms Elhaj. “It’s a way to coach them and to harness ideas and to allow them to be creative. They are really hungry to do this and be heard. They are so happy to be actually doing something, to be engaged in creating something new, not only sitting and listening and getting new information and new knowledge. Now they are applying that knowledge.”

Afra’s team decided to focus their business idea on a restaurant modelled after the Leaning Tower of Pisa. Each level would have a different international cuisine and all the meat would be halal. The pupils thought of this after discussing a common problem they face when travelling abroad.

“Sometimes we find the struggle of finding halal food, so we just eat fish and cheese, so it’s hard for us to spend 20 days with fish and cheese,” said Afra. “So we made this tower so every person who comes – from Africa, from America – they will find the right food to eat.”

rpennington@thenational.ae

%E2%80%98White%20Elephant%E2%80%99
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Jesse%20V%20Johnson%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Michael%20Rooker%2C%20Bruce%20Willis%2C%20John%20Malkovich%2C%20Olga%20Kurylenko%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Company Profile:

Name: The Protein Bakeshop

Date of start: 2013

Founders: Rashi Chowdhary and Saad Umerani

Based: Dubai

Size, number of employees: 12

Funding/investors:  $400,000 (2018) 

RESULTS

5pm: Sheikh Mansour bin Zayed Al Nahyan Racing Festival Purebred Arabian Cup Conditions (PA) Dh 200,000 (Turf) 1,600m
Winner: Hameem, Adrie de Vries (jockey), Abdallah Al Hammadi (trainer)
5.30pm: Sheikha Fatima bint Mubarak Cup Conditions (PA) Dh 200,000 (T) 1,600m
Winner: Winked, Connor Beasley, Abdallah Al Hammadi
6pm: Sheikh Sultan bin Zayed Al Nahyan National Day Cup Listed (TB) Dh 380,000 (T) 1,600m
Winner: Boerhan, Ryan Curatolo, Nicholas Bachalard
6.30pm: Sheikh Sultan bin Zayed Al Nahyan National Day Group 3 (PA) Dh 500,000 (T) 1,600m
Winner: AF Alwajel, Tadhg O’Shea, Ernst Oertel
7pm: Sheikh Sultan bin Zayed Al Nahyan National Day Jewel Crown Group 1 (PA) Dh 5,000,000 (T) 2,200m
Winner: Messi, Pat Dobbs, Timo Keersmaekers
7.30pm: Sheikh Mansour bin Zayed Al Nahyan Racing Festival Handicap (PA) Dh 150,000 (T) 1,400m
Winner: Harrab, Ryan Curatolo, Jean de Roualle
8pm: Wathba Stallions Cup Handicap (PA) Dh 100,000 (T) 1,400m
Winner: AF Alareeq, Connor Beasley, Ahmed Al Mehairbi

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

THE SPECS

Engine: six-litre W12 twin-turbo

Transmission: eight-speed dual clutch auto

Power: 626bhp

Torque: 900Nm

Price: Dh940,160 (plus VAT)

On sale: Q1 2020

The biog

Favourite films: Casablanca and Lawrence of Arabia

Favourite books: Start with Why by Simon Sinek and Good to be Great by Jim Collins

Favourite dish: Grilled fish

Inspiration: Sheikh Zayed's visionary leadership taught me to embrace new challenges.

Avatar%20(2009)
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EJames%20Cameron%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3ESam%20Worthington%2C%20Zoe%20Saldana%2C%20Sigourney%20Weaver%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3%2F5%3C%2Fp%3E%0A
COMPANY%20PROFILE%20
%3Cp%3EName%3A%20DarDoc%3Cbr%3EBased%3A%20Abu%20Dhabi%3Cbr%3EFounders%3A%20Samer%20Masri%2C%20Keswin%20Suresh%3Cbr%3ESector%3A%20HealthTech%3Cbr%3ETotal%20funding%3A%20%24800%2C000%3Cbr%3EInvestors%3A%20Flat6Labs%2C%20angel%20investors%20%2B%20Incubated%20by%20Hub71%2C%20Abu%20Dhabi's%20Department%20of%20Health%3Cbr%3ENumber%20of%20employees%3A%2010%3C%2Fp%3E%0A
Our legal advisor

Rasmi Ragy is a senior counsel at Charles Russell Speechlys, a law firm headquartered in London with offices in Europe, the Middle East and Hong Kong.

Experience: Prosecutor in Egypt with more than 40 years experience across the GCC.

Education: Ain Shams University, Egypt, in 1978.

The lowdown

Rating: 4/5

The biog

Family: Parents and four sisters

Education: Bachelor’s degree in business management and marketing at American University of Sharjah

A self-confessed foodie, she enjoys trying out new cuisines, her current favourite is the poke superfood bowls

Likes reading: autobiographies and fiction

Favourite holiday destination: Italy

Posts information about challenges, events, runs in other emirates on the group's Instagram account @Anagowrunning

Has created a database of Emirati and GCC sportspeople on Instagram @abeermk, highlight: Athletes

Apart from training, also talks to women about nutrition, healthy lifestyle, diabetes, cholesterol, blood pressure

The specs: 2018 Nissan 370Z Nismo

The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
​​​​​​​Fuel consumption, combined: 10.5L / 100km

Huddersfield Town permanent signings:

  • Steve Mounie (striker): signed from Montpellier for £11 million
  • Tom Ince (winger): signed from Derby County for £7.7m
  • Aaron Mooy (midfielder): signed from Manchester City for £7.7m
  • Laurent Depoitre (striker): signed from Porto for £3.4m
  • Scott Malone (defender): signed from Fulham for £3.3m
  • Zanka (defender): signed from Copenhagen for £2.3m
  • Elias Kachunga (winger): signed for Ingolstadt for £1.1m
  • Danny WIlliams (midfielder): signed from Reading on a free transfer
Afcon 2019

SEMI-FINALS

Senegal v Tunisia, 8pm

Algeria v Nigeria, 11pm

Matches are live on BeIN Sports

RESULTS

5pm: Maiden (PA) Dh80,000 1,200m
Winner: Ferdous, Szczepan Mazur (jockey), Ibrahim Al Hadhrami (trainer)
5.30pm: Arabian Triple Crown Round-3 Group 3 (PA) Dh300,000 2,400m
Winner: Basmah, Fabrice Veron, Eric Lemartinel
6pm: UAE Arabian Derby Prestige (PA) Dh150,000 2,200m
Winner: Ihtesham, Szczepan Mazur, Ibrahim Al Hadhrami
6.30pm: Emirates Championship Group 1 (PA) Dh1,000,000 2,200m
Winner: Somoud, Patrick Cosgrave, Ahmed Al Mehairbi
7pm: Abu Dhabi Championship Group 3 (TB) Dh380,000 2,200m
Winner: GM Hopkins, Patrick Cosgrave, Jaber Ramadhan
7.30pm: Wathba Stallions Cup Conditions (PA) Dh70,000 1,600m
Winner: AF Al Bairaq, Tadhg O’Shea, Ernst Oertel

Auron Mein Kahan Dum Tha

Starring: Ajay Devgn, Tabu, Shantanu Maheshwari, Jimmy Shergill, Saiee Manjrekar

Director: Neeraj Pandey

Rating: 2.5/5

Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants

Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

Polarised public

31% in UK say BBC is biased to left-wing views

19% in UK say BBC is biased to right-wing views

19% in UK say BBC is not biased at all

Source: YouGov

%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Nag%20Ashwin%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3EPrabhas%2C%20Saswata%20Chatterjee%2C%20Deepika%20Padukone%2C%20Amitabh%20Bachchan%2C%20Shobhana%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E%E2%98%85%E2%98%85%E2%98%85%E2%98%85%3C%2Fp%3E%0A

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.”

Ponti

Sharlene Teo, Pan Macmillan

Our legal consultant

Name: Dr Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

FINAL SCORES

Fujairah 130 for 8 in 20 overs

(Sandy Sandeep 29, Hamdan Tahir 26 no, Umair Ali 2-15)

Sharjah 131 for 8 in 19.3 overs

(Kashif Daud 51, Umair Ali 20, Rohan Mustafa 2-17, Sabir Rao 2-26)

The candidates

Dr Ayham Ammora, scientist and business executive

Ali Azeem, business leader

Tony Booth, professor of education

Lord Browne, former BP chief executive

Dr Mohamed El-Erian, economist

Professor Wyn Evans, astrophysicist

Dr Mark Mann, scientist

Gina MIller, anti-Brexit campaigner

Lord Smith, former Cabinet minister

Sandi Toksvig, broadcaster

 

FIXTURES

Monday, January 28
Iran v Japan, Hazza bin Zayed Stadium (6pm)

Tuesday, January 29
UAEv Qatar, Mohamed Bin Zayed Stadium (6pm)

Friday, February 1
Final, Zayed Sports City Stadium (6pm)

Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Fasset%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2019%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Mohammad%20Raafi%20Hossain%2C%20Daniel%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%3C%2Fstrong%3E%20%242.45%20million%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2086%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Pre-series%20B%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Investcorp%2C%20Liberty%20City%20Ventures%2C%20Fatima%20Gobi%20Ventures%2C%20Primal%20Capital%2C%20Wealthwell%20Ventures%2C%20FHS%20Capital%2C%20VN2%20Capital%2C%20local%20family%20offices%3C%2Fp%3E%0A
COMPANY PROFILE

Name: Lamsa

Founder: Badr Ward

Launched: 2014

Employees: 60

Based: Abu Dhabi

Sector: EdTech

Funding to date: $15 million

UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
What the law says

Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.

“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.

“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”

If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.

Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now