Protesters hold a banner reading 'No to Nato' during a demonstration in Stockholm on Saturday against Sweden's bid to join the alliance. AFP
Protesters hold a banner reading 'No to Nato' during a demonstration in Stockholm on Saturday against Sweden's bid to join the alliance. AFP
Protesters hold a banner reading 'No to Nato' during a demonstration in Stockholm on Saturday against Sweden's bid to join the alliance. AFP
Protesters hold a banner reading 'No to Nato' during a demonstration in Stockholm on Saturday against Sweden's bid to join the alliance. AFP


Sweden must not let the far right claim victory in the Quran burning episode


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January 23, 2023

During a protest in Stockholm over the weekend, Rasmus Paludan, a Danish-Swedish far-right extremist, burned a copy of the Quran in front of the Turkish embassy. In response, condemnations across the Muslim world, from Turkey to Saudi Arabia, from Qatar to the UAE, from Malaysia to Pakistan, ensued. The resulting controversy asks serious questions around freedom of expression against the backdrop of an already tense relationship between Sweden and Turkey. It’s important to clarify precisely what has happened, and what needs to happen from here.

Mr Paludan is a classic agent provocateur, whose whole point in protesting in front of the Turkish embassy was designed to induce a response, at a time when Turkey and Sweden are in negotiations about the latter’s entry into the Nato alliance. For Mr Paludan, it was the location, far more than the content, that is the point — and it is location that this whole episode was about.

Far-right extremists in Sweden are well aware that their country has an extremely liberal protest regime. The process is simple: anyone wishing to hold a protest should request permission from the police, who are generally obliged to issue it. According to authorities, there are only two limitations that might be imposed on the protest. The first relates to safety; if the police feel that a dire infringement of public order is an issue, or safety at the gathering cannot be fully assured (and thus the police cannot properly secure the protest), they can deny permission. That emphasis also explains their presence at the weekend protest; and is why, authorities say, the police were unable to deny permission. Such is how freedom of expression is interpreted in Sweden; an interpretation that is not shared across the board in Europe writ large, nor in the West more generally, where there are other legal grounds for denying protests or marches, including the suspicion of hate speech or incitement.

For Rasmus Paludan, it was the location, far more than the content, that is the point

The irony is that alongside this kind of protest regime in Sweden is a slew of other legislation that forbids “agitation against a population group” — that is hate speech. But even if the police suspect that protesters will engage in hate speech, permission for demonstrations must still go forward. Protesting, however, doesn’t provide anyone immunity from criminal liability — and if protest leaders engage in hate speech, they can be prosecuted thereafter.

Far-right extremists know this, which is why the likes of Mr Paludan are careful not to cross legal red lines by engaging in speech against Muslims as a group, but rather are very specific and careful to focus on Islam as a religion. Hitherto, Swedish courts have failed to see this as a deft way to defeat the spirit of the law, while maintaining its letter.

So what might be done now? There are several issues that ought to be addressed. The first, thankfully, senior Swedish politicians did over the weekend: they condemned the burning, recognising it for what it was — a disrespectful provocation. But, given the situation at hand, it would have been appropriate for those same senior politicians to have taken the opportunity to descend on to the counter-protest that had been arranged, in order to show support for those who rejected the move and solidarity with the Muslim community. This is because it’s not simply about the Quran, and what it means to Muslims, but about the future of a minority community that already has concerns surrounding bigotry against it. This is also about the future of Sweden’s body politic, which has seen the mainstreaming of parts of the far right, similar across the European continent. Swedish politicians need to be transparent about what individuals such as Mr Paludan and his stunts represent: a furthering of far-right populism.

Swedish Prime Minister Ulf Kristersson has condemned the burning of the Quran. Reuters
Swedish Prime Minister Ulf Kristersson has condemned the burning of the Quran. Reuters

The second is for the authorities to consider that, even if they consistently hold to the doctrine that they cannot withhold permission for such protests, they can withhold permission for particular locations. There is already precedent for this. Protest sizes were forcibly limited during the early months of Covid-19, due to public health concerns, although they were not banned altogether. Locations are even less problematic than that. The likes of Mr Paludan are mocking Sweden’s tradition of free speech in order to demonise Muslim communities writ large, by carrying out these Quran burnings in front of mosques, Muslim schools, and embassies representing Muslim-majority countries.

Freedom of expression does not mean the freedom to hold protests absolutely anywhere in any public space — otherwise, the law would stipulate that protests be secured inside publicly owned buildings, such as parliament or ministries. Of course, that’s not the case at all — and when it is abundantly clear that these stunts are meant to provoke upheaval and discord, while simultaneously targeting a minority community, the police should feel more at liberty to simply deny such locations, while not needing to deny protests altogether.

Mr Paludan and his fellow travellers are looking for ways to further provoke, and it is important that they not be given any victory in this regard — on the contrary, Swedish public figures must seize the opportunity to turn his stunt against him.

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.”

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In addition to the Emirates and Etihad programmes, there is the Air Miles Middle East card, which offers members the ability to choose any airline, has no black-out dates and no restrictions on seat availability. Air Miles is linked up to HSBC credit cards and can also be earned through retail partners such as Spinneys, Sharaf DG and The Toy Store.

An Emirates Dubai-London round-trip ticket costs 180,000 miles on the Air Miles website. But customers earn these ‘miles’ at a much faster rate than airline miles. Adidas offers two air miles per Dh1 spent. Air Miles has partnerships with websites as well, so booking.com and agoda.com offer three miles per Dh1 spent.

“If you use your HSBC credit card when shopping at our partners, you are able to earn Air Miles twice which will mean you can get that flight reward faster and for less spend,” says Paul Lacey, the managing director for Europe, Middle East and India for Aimia, which owns and operates Air Miles Middle East.

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Updated: January 25, 2023, 12:20 PM