A senior UN official on Friday said restrictions on women's rights are hindering Afghanistan's reintegration into the international community, adding that the Taliban's participation in upcoming talks in Doha is not “legitimisation” of the isolated government.
Since seizing power in August 2021, the Afghan Taliban have banned schooling for girls older than 12 and have curtailed many basic freedoms for women, including widespread restrictions on employment.
“By being deeply unpopular [the restrictions] undermine the de facto authorities' claims to legitimacy,” Roza Otunbayeva, head of the UN mission in the country, Unama, told the Security Council.
“And they continue to block diplomatic solutions that would lead to Afghanistan's reintegration into the international community.”
No country has yet given full diplomatic recognition to the Taliban.
Last year marked the start of several rounds of UN-hosted talks on Afghanistan to consider strengthening international commitment to the country.
The Taliban were not included in the first set of talks in May 2023 and then refused an invitation to the second in February 2024 because they wanted direct talks with UN Secretary General Antonio Guterres and the exclusion of other representatives.
The third UN-convened meeting of special envoys and representatives on Afghanistan is set for June 30 and July 1 in Doha, which the de facto authorities have agreed to attend.
The Taliban accepted an invitation from Mr Guterres to participate in talks, extended by under secretary general for political and peacebuilding affairs Rosemary DiCarlo during her mid-May visit to Afghanistan.
“For this process to truly begin, it is essential that the de facto authorities participate at Doha,” Ms Otunbayeva said, warning however that high expectations “cannot realistically be met in a single meeting.”
Ms Otunbayeva said it “cannot be repeated enough that this sort of engagement is not legitimisation or normalisation.”
The UN agenda reportedly contains no discussion of women’s rights, and no Afghan women have been invited to participate in the meeting.
Tirana Hassan, executive director of Human Rights Watch, criticised the exclusion of women from discussions. UN Security Council Resolution 1325 mandates full participation of women in international peace and security talks.
“Excluding women risks legitimising the Taliban’s abuses and triggering irreparable harm to the UN’s credibility as an advocate for women’s rights and women’s meaningful participation,” she said.
Since 2021, more than 50 edicts, orders and restrictions have been placed on women and girls, from travel restrictions and dress codes to the banning of secondary education, NGO work and beauty salons.
Afghanistan is ranked last on the Women, Peace and Security Index, with its women as well as UN officials having referred to the situation as “gender apartheid”.
Afghan women living under Taliban rule – in pictures
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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.”
What is a robo-adviser?
Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.
These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.
Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.
Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.
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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
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Trump v Khan
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2017: Trump criticises Khan’s ‘no reason to be alarmed’ response to London Bridge terror attacks
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July 2025 During a golfing trip to Scotland, Trump calls Khan “a nasty person”
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