Syrian Prime Minister Mohammad Al Jalali meets Iranian Foreign Minister Abbas Aragchi in Damascus. Reuters
Syrian Prime Minister Mohammad Al Jalali meets Iranian Foreign Minister Abbas Aragchi in Damascus. Reuters
Syrian Prime Minister Mohammad Al Jalali meets Iranian Foreign Minister Abbas Aragchi in Damascus. Reuters
Syrian Prime Minister Mohammad Al Jalali meets Iranian Foreign Minister Abbas Aragchi in Damascus. Reuters

A technocrat in turbulence: Syria’s Prime Minister Mohammad Al Jalali looks to help country move on from Assad


Sinan Mahmoud
  • English
  • Arabic

Live updates: Follow the latest on the Syrian rebel advance

As the regime of Syria's President Bashar Al Assad regime collapsed and opposition forces entered Damascus on Sunday, Prime Minister Mohammad Al Jalali emerged as a pivotal figure.

Mr Al Assad was reported to have fled Damascus for an unknown destination after rebel forces led by Hayat Tahrir Al Sham entered the capital following an offensive that started in the northern city of Aleppo on November 27.

In a video posted on his Facebook account, Mr Al Jalali said he remained in his home and that he was ready to support the continuity of governance and to co-operate with any leadership chosen by the Syrian people.

He said he had been in contact with rebel commander Ahmad Al Shara, formerly known by the nom de guerre Abu Mohammed Al Jawlani to discuss managing the transitional period, marking a significant development in efforts to shape Syria's political future.

Mr Al Jawlani also signalled efforts to secure an orderly transition, releasing a statement in which he said state institutions would be supervised by Mr Al Jalali until they were handed over.

The rebels later posted a video on social media that showed Mr Al Jalali leaving his house escorted by opposition fighters, with one heard saying that he was being taken to the Four Seasons Hotel for a meeting to hand over the government institutions.

Born in Damascus in 1969, Mr Al Jalali is an academic and a political technocrat. Holding advanced degrees in civil engineering and engineering economics, his career includes roles as Minister of Communications and Technology between 2014 and 2016, and as Deputy Minister before that.

In 1992 he graduated with a BA in civil engineering and completed a postgraduate diploma in civil engineering from Damascus University two years later. He also completed a master of science in civil engineering in 1997, and a PhD in engineering economics from Ain Shams University in Cairo in 2000.

He also leads academic institutions, such as the Syrian Private University, positioning him as both a technologist and an intellectual within the Assad regime.

People with Syrian opposition flags in Lebanon celebrate after Syrian rebels announced they had toppled President Bashar Al Assad. Reuters
People with Syrian opposition flags in Lebanon celebrate after Syrian rebels announced they had toppled President Bashar Al Assad. Reuters

Despite his credentials, his tenure has not been not without controversy. Along with Syria’s former foreign minister Faisal Mekdad, he has been the subject of EU sanctions for his role in suppressing the public protests in 2011 that escalated into a civil war that has claimed more than 350,000 lives according to UN estimates.

Appointed by Mr Al Assad in September, Mr Al Jalali led the government at a critical juncture, with Syria at a crossroads between deeper fragmentation and potential stabilisation.

His technical expertise and administrative experience may provide tools for addressing Syria's immediate needs, such as rebuilding infrastructure and restoring basic services. However, his ties to past repression raise doubts about his ability to enact genuine reform or foster reconciliation with opposition forces.

Super%20Mario%20Bros%20Wonder
%3Cp%3E%3Cstrong%3EDeveloper%3A%20%3C%2Fstrong%3ENintendo%20EPD%3Cbr%3E%3Cstrong%3EPublisher%3A%20%3C%2Fstrong%3ENintendo%3Cbr%3E%3Cstrong%3EConsole%3A%20%3C%2Fstrong%3ENintendo%20Switch%3Cbr%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E4%2F5%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.”

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

The specs: 2018 Opel Mokka X

Price, as tested: Dh84,000

Engine: 1.4L, four-cylinder turbo

Transmission: Six-speed auto

Power: 142hp at 4,900rpm

Torque: 200Nm at 1,850rpm

Fuel economy, combined: 6.5L / 100km

Sri Lanka v England

First Test, at Galle
England won by 211

Second Test, at Kandy
England won by 57 runs

Third Test, at Colombo
From Nov 23-27

Day 3, Dubai Test: At a glance

Moment of the day Lahiru Gamage, the Sri Lanka pace bowler, has had to play a lot of cricket to earn a shot at the top level. The 29-year-old debutant first played a first-class game 11 years ago. His first Test wicket was one to savour, bowling Pakistan opener Shan Masood through the gate. It set the rot in motion for Pakistan’s batting.

Stat of the day – 73 Haris Sohail took 73 balls to hit a boundary. Which is a peculiar quirk, given the aggressive intent he showed from the off. Pakistan’s batsmen were implored to attack Rangana Herath after their implosion against his left-arm spin in Abu Dhabi. Haris did his best to oblige, smacking the second ball he faced for a huge straight six.

The verdict One year ago, when Pakistan played their first day-night Test at this ground, they held a 222-run lead over West Indies on first innings. The away side still pushed their hosts relatively close on the final night. With the opposite almost exactly the case this time around, Pakistan still have to hope they can salvage a win from somewhere.

Stree

Producer: Maddock Films, Jio Movies
Director: Amar Kaushik
Cast: Rajkummar Rao, Shraddha Kapoor, Pankaj Tripathi, Aparshakti Khurana, Abhishek Banerjee
Rating: 3.5

Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

COMPANY PROFILE
Company name: BorrowMe (BorrowMe.com)

Date started: August 2021

Founder: Nour Sabri

Based: Dubai, UAE

Sector: E-commerce / Marketplace

Size: Two employees

Funding stage: Seed investment

Initial investment: $200,000

Investors: Amr Manaa (director, PwC Middle East) 

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

MATCH INFO

BRIGHTON 0

MANCHESTER UNITED 3

McTominay 44'

Mata 73'

Pogba 80'

Updated: December 09, 2024, 2:59 PM