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Gazans are holding Ramadan prayers in the rubble of destroyed mosques, some centuries old, after months of heavy Israeli bombardment.
With food and shelter scarce, communal worship is among the few ways they can mark the holy month, many told The National.
At least 223 mosques have been destroyed since the war began on 7 October, with about 300 damaged, local authorities say.
The Ministry of Endowments and Religious Affairs estimates the cost at $500 million - though priceless heritage has also been lost. One place of worship, Al Omari Mosque, was established more than 1,400 years ago.
Very few mosques remain, with the rest flattened to the ground in an attempt to eradicate all Islamic religious landmarks
Hudhaifa Al Masri,
imam of a mosque in Beit Hanoun before the war
The loss of mosques that families have visited for generations has had a profound impact on the holy month, at a time when many fear what awaits them.
At this time of year, they are alive with the sound of taraweeh prayers, with long recitations of Quranic verse this year replaced with the sound of Israeli bombing.
Hudhaifa Al Masri, imam of a mosque in Beit Hanoun before the war, holds prayers in Jabalia camp. He condemned “the criminal Israeli enemy that has declared war on God and His Messenger, targeting mosques and destroying them extensively”.
“Only a very few mosques remain, with the rest flattened to the ground in an attempt to eradicate all Islamic religious landmarks,” he told The National.
“Due to the war this year, people have been deprived of all these rituals. The image of people coming to taraweeh prayer makes me and all the Muslims so happy, but this scene is absent this year unfortunately.”
Worship amid war
But he still tries to encourage people to carry out some religious practices.
“We have held prayers in the courtyards of displacement centres and some public spaces. Some people have been keen on conducting Quran memorisation circles to teach the youth and recite verses from the Quran to them,” he said.
In Gaza city, at the Imam of Al Omari Mosque, Sheikh Fadi Aarif calls the Adhan and holds prayers in the rubble of the building, which was destroyed by Israeli air strikes on the heart of the old town.
He leads prayers in a covered courtyard inside the mosque, which bears characteristics from the Mamluk and Ottoman eras.
Residents of Al Remal neighbourhood in Gaza city conduct taraweeh prayers in a nearby yard beside Al Abas Mosque, which was one of the oldest in the city and was destroyed in the first week of the war.
“In the north of the Gaza Strip, there isn't a single mosque left,” Mohammed Al Kafarn, a young man from northern Gaza, told The National.
"But we insist on holding prayers in public squares and fields, despite the danger and repeated targeting from the occupation. We always feel that victory may be closer to us every time we get closer to our God."
In Rafah on the Egyptian border, worshippers gathered in the first week of Ramadan to pray in the rubble of Al Farooq Mosque.
Once a city of 300,000 people, it has swelled to accommodate more than one 1.5 million. They fear a threatened Israeli ground attack is imminent, despite calls from the US, EU and UN for restraint.
Ahmad Abu Hashim, 26, who came for taraweeh prayers, encouraged young people in his neighbourhood to join him.
“They destroyed our homes and mosques but they will not destroy our relationship with God,” he told The National. "The sound of the Quran spreading among people gives you an inner peace - and makes you feel sure that everything hard we experience will soon be only a memory."
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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.”
Most sought after workplace benefits in the UAE
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The alternatives
• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.
• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.
• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.
• 2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.
• PayPal is probably the best-known online goods payment method - usually used for eBay purchases - but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.
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2. Featherweight: Hussein Salim (IRQ) v Shakhriyor Juraev (UZB)
3. Catchweight 80kg: Rashed Dawood (UAE) v Khamza Yamadaev (RUS)
4. Lightweight: Ho Taek-oh (KOR) v Ronald Girones (CUB)
5. Lightweight: Arthur Zaynukov (RUS) v Damien Lapilus (FRA)
6. Bantamweight: Vinicius de Oliveira (BRA) v Furkatbek Yokubov (RUS)
7. Featherweight: Movlid Khaybulaev (RUS) v Zaka Fatullazade (AZE)
8. Flyweight: Shannon Ross (TUR) v Donovon Freelow (USA)
9. Lightweight: Mohammad Yahya (UAE) v Dan Collins (GBR)
10. Catchweight 73kg: Islam Mamedov (RUS) v Martun Mezhulmyan (ARM)
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12. Flyweight World title: Manon Fiorot (FRA) v Gabriela Campo (ARG)
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