Marion Marechal, leader of the French far-right party Reconquete, during a tribute ceremony to Joan of Arc in Domremy-la-Pucelle this month. AFP
Marion Marechal, leader of the French far-right party Reconquete, during a tribute ceremony to Joan of Arc in Domremy-la-Pucelle this month. AFP
Marion Marechal, leader of the French far-right party Reconquete, during a tribute ceremony to Joan of Arc in Domremy-la-Pucelle this month. AFP
Marion Marechal, leader of the French far-right party Reconquete, during a tribute ceremony to Joan of Arc in Domremy-la-Pucelle this month. AFP


Will Muslim-led parties succeed in pushing back against Europe’s far right?


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May 28, 2024

“There’s just one question on voting day,” Marion Marechal, the youngest member of a far-right French political dynasty, asserted in a recent campaign speech. “Do you want an Islamised Europe or a European Europe?”

Anti-migrant rhetoric is reaching a fever pitch across Europe as the 27-country bloc prepares to choose a new parliament next week. And thanks to a surge in new arrivals, voters have been pricking up their ears. At the time of the last vote, in 2019, the EU annually processed about half a million asylum applications.

That total has since more than doubled and is now nearing the record highs of 2016, as are illegal crossings detected by border agency Frontex. Last month the EU approved a new migration plan, to start in 2026, that will track new arrivals, set up detention centres and accelerate vetting and possible deportation. Critics argue that it will create a troubling system of surveillance and deny migrants the right to asylum.

Europe has also made several deals that echo the $6 billion EU-Turkey migration plan, despite EU auditors being unable to determine how Ankara spent most of those funds. The UK made a deal with Rwanda to receive rejected asylum seekers, though the scheme may never get off the ground with elections looming in July. Italy has begun setting up migrant holding centres across the Adriatic in Albania.

The EU has committed to pay Tunisia, Morocco, Lebanon, Egypt, Libya and Mauritania $8 billion to boost economic growth and stem migration. An investigation led by The Washington Post reported last week that Europe has been financing North African operations to detain would-be migrants and forcibly move them to remote desert areas as a deterrent. And 15 European countries recently urged the EU to send more asylum seekers to third countries, citing the Italy-Albania deal as a model.

Perhaps because studies have found that such deterrence schemes tend to fail, voters remain unsatisfied. In a May survey, more than seven out of 10 Europeans said their country takes in too many immigrants and 85 per cent urged the EU to do more to combat it. This aligns with the views of the well-dressed young revellers captured in a viral video last week smiling and dancing as they chant, “Germany for Germans! Foreigners out!” (Each EU state elects its MEPs, who then form bloc-wide alliances to boost their legislative influence.)

An aerial view shows rolled-up inflatable dinghies and outboard engines, believed to have been used by migrants and asylum seekers who were picked up at sea while crossing the English Channel from France to England in January. AFP
An aerial view shows rolled-up inflatable dinghies and outboard engines, believed to have been used by migrants and asylum seekers who were picked up at sea while crossing the English Channel from France to England in January. AFP

Europe’s fear-mongers – led by Ms Marechal’s Reconquest party, her husband Vincenzo Sofo’s Brothers of Italy, her aunt Marine Le Pen’s National Rally, Geert Wilders’ Freedom Party, Alternative for Germany (AfD), the Iberian Peninsula’s Vox and Chega and the governing parties in Poland and Hungary – have made immigration the defining issue, turning legitimate voter concerns into a foreign bogeyman coming to snatch their jobs, security and even their identity.

Speakers at a far-right rally in Hungary argued that the Great Replacement is a looming reality. The AfD reportedly backed a secret plan to expel millions of migrants and is thought to be behind billboards across Saxony that portray the governing CDU calling for “more Caliphate”. British MP Suella Braverman, formerly home secretary, argued in a UK newspaper that Islamists were gaining control of Britain.

Turkish President Recep Tayyip Erdogan has repeatedly denounced this assault and Ankara has mounted a multi-platform campaign – newspapers, videos, books and documentaries – to address what it sees as rampant Islamophobia in the West, particularly in the wake of Hamas’s horrific October 7 assault in Israel.

This effort is now dipping into European politics. In Germany, home to more than three million people with Turkish roots, the Turkish-led Dava Party is running three candidates for EU parliament. Advocating tolerance and diversity, Dava – its name hints at Islamic outreach – vows to support migrants and tackle anti-Muslim sentiment.

Dava’s main candidate, Fatih Zingal, worked for an advocacy group Germany’s state broadcaster alleges is a Turkish lobby group. Another candidate is a former official for DITIB, which runs 900 German mosques with imams trained and employed by the Turkish state. Berlin recently launched a domestic imam training programme, seeking to end Germany’s reliance on Turkish-trained imams, and German officials have questioned Dava’s objectives.

Some fear the party plans to further Turkey’s policy objectives. “It’s an attempt to gain more of a footing in Germany,” Lazaros Karavilis, political researcher at Bremen University, said in an interview with France24.

Turkish President Recep Tayyip Erdogan enjoys strong support among the Turkish diaspora in Germany. Getty Images
Turkish President Recep Tayyip Erdogan enjoys strong support among the Turkish diaspora in Germany. Getty Images

Might Dava threaten German democracy? Turkish officials often argue that the West is morally bankrupt and Islamic civilisation is poised to take its place. But in a largely secular democracy such talk seems politically motivated. Besides, Dava leans liberal, rather than conservative. In a recent report, however, Ankara laid out how its diaspora agency, YTB, aims to mobilise seven million Turks abroad to achieve the country’s objectives, through increased funding, political engagement and inter-Muslim co-operation.

Germany’s new citizenship law is set to sharply increase the number of German Muslims eligible to vote, which helps explain why Dava is far from unique. The founders of another new German party, the leftist BSW, includes two politicians of Iranian heritage.

Across the EU, a handful of new Muslim-led parties – Spain’s Partido Andalusi, France’s Union of Muslim Democrats, Italy’s Democratic Islamic Movement and the Netherlands’ NIDA – have united under a “Free Palestine” agenda. Sweden’s Nuance Party, led by former Turkish ultra-nationalist Mikail Yuksel, also aims to attract immigrants and Muslims.

Nuance even posted campaign billboards in Turkey’s Konya province, from which about 40 per cent of Sweden’s Turks and Kurds emigrated. The irony is that Turkey, having hosted millions of refugees for years, is no stranger to nativism: the main opposition vows to send all Syrians home, and a far-right party made a dystopic video on Syrians’ “Silent Invasion”. As if to illustrate the point, a Turkish man went viral on social media last week when, minutes after crossing illegally into the US, he told a reporter the US needed to improve border security to keep out “killers and psychopaths”.

In this age of displacement and exile, xenophobia may be the new default. Despite the emergence of pro-migrant parties, the research showing that migrants tend to drive economic growth and Europe’s centuries of Islamic history, from Al Andalus to the Ottoman legacy in the Balkans, the continent is sure to embrace a fortress mentality as long as the far right gains ground. Even so, greater political diversity should, at some point, push the pendulum back in the other direction.

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Western Region Asia Cup Qualifier, Al Amerat, Oman

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Islamophobia definition

A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.

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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.”

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Updated: May 28, 2024, 6:56 AM