People out and about at Dubai's Souq Ramadan on Monday. This Ramadan is being held with none of the restrictions that overshadowed previous celebrations. AFP
People out and about at Dubai's Souq Ramadan on Monday. This Ramadan is being held with none of the restrictions that overshadowed previous celebrations. AFP
People out and about at Dubai's Souq Ramadan on Monday. This Ramadan is being held with none of the restrictions that overshadowed previous celebrations. AFP
People out and about at Dubai's Souq Ramadan on Monday. This Ramadan is being held with none of the restrictions that overshadowed previous celebrations. AFP


Ramadan after Covid is a time to pause and reflect


  • English
  • Arabic

March 23, 2023

There are many sides to Ramadan – it is a spiritual practice, a religious obligation for Muslims and a community effort. It is also a time for family, so when the coronavirus struck in 2020, this important social aspect of the holy month was badly affected.

Letting go of many Ramadan activities was difficult for millions of Muslims around the world. Prayer services were curtailed, Ramadan tents and majlis events disappeared, many mosques lay empty, and iftar and suhoor gatherings faced restrictions.

Fast forward to 2023 and we are in a very different place. This holy month is the first one that can truly be called a post-Covid Ramadan. It is an important moment that calls for some reflection.

In 2020, Ramadan began on April 23. A little under three months before, the UAE authorities revealed that the first case of a new respiratory disease called Covid-19 had been detected in the country. This was the beginning of a chain of events that upended generations of Ramadan tradition.

Zafar Iqbal from Pakistan, pictured in April 2020, wears a protective face mask as he paints the entrance of a mosque near the Springs Souq in Dubai. Ramadan in 2020 was a time before vaccines, and scientists were still trying to understand how the menacing new coronavirus worked. Pawan Singh / The National
Zafar Iqbal from Pakistan, pictured in April 2020, wears a protective face mask as he paints the entrance of a mosque near the Springs Souq in Dubai. Ramadan in 2020 was a time before vaccines, and scientists were still trying to understand how the menacing new coronavirus worked. Pawan Singh / The National

That year saw nightly stay-at-home orders. Flights ground to a halt. Limits were placed on the number of people who could congregate. Businesses and schools scrambled to adapt as employees and pupils began to stay home, and face masks became ubiquitous.

The UAE moved swiftly and decisively to contain the mysterious new disease. But many of these necessary and life-saving changes had a serious side effect, disrupting the social gatherings and family visits that are an intrinsic part of the holy month.

Ramadan in 2020 was a time before vaccines, and scientists were still trying to understand how this menacing new virus worked. Even mass testing for Covid-19 was in its early stages. It was a tense period for many people, and it wasn’t until May 18, during Ramadan, that a glimmer of hope was seen – it being the first day that the number of recoveries in the UAE surpassed the number of new cases.

However, over the next three years, despite the grief caused by the deaths of many loved ones, the UAE and the world gradually got to grips with the pandemic. This Ramadan is being held with none of the restrictions that overshadowed previous celebrations.

But while people in the UAE and several countries can be thankful that this interregnum is over and that life has returned to normal, for millions of Muslims this Ramadan is taking place amid other challenges. It is just weeks since the cataclysmic earthquakes in Turkey and Syria flattened entire towns and cities. People in northern Afghanistan and Pakistan are counting the cost of the tremor that struck on Tuesday evening. And in Somalia, people will observe the holy month amid a catastrophic drought that has claimed about 43,000 lives, according to a new report.

Many religious traditions encourage their believers to practise gratitude – for their health, for family and for friends. This Ramadan, which signals a return to continuity, is the perfect time for all of us to count our blessings.

Why your domicile status is important

Your UK residence status is assessed using the statutory residence test. While your residence status – ie where you live - is assessed every year, your domicile status is assessed over your lifetime.

Your domicile of origin generally comes from your parents and if your parents were not married, then it is decided by your father. Your domicile is generally the country your father considered his permanent home when you were born. 

UK residents who have their permanent home ("domicile") outside the UK may not have to pay UK tax on foreign income. For example, they do not pay tax on foreign income or gains if they are less than £2,000 in the tax year and do not transfer that gain to a UK bank account.

A UK-domiciled person, however, is liable for UK tax on their worldwide income and gains when they are resident in the UK.

What are NFTs?

Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.

You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”

However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.

This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”

This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.

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Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
EA Sports FC 24
MATCH INFO

Barcelona v Real Madrid, 11pm UAE

Match is on BeIN Sports

How to watch Ireland v Pakistan in UAE

When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.

Four-day collections of TOH

Day             Indian Rs (Dh)        

Thursday    500.75 million (25.23m)

Friday         280.25m (14.12m)

Saturday     220.75m (11.21m)

Sunday       170.25m (8.58m)

Total            1.19bn (59.15m)

(Figures in millions, approximate)

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COMPANY%20PROFILE
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THE SPECS

2020 Toyota Corolla Hybrid LE

Engine: 1.8 litre combined with 16-volt electric motors

Transmission: Automatic with manual shifting mode

Power: 121hp

Torque: 142Nm

Price: Dh95,900

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.”

THE SPECS

Jaguar F-Pace SVR

Engine: 5-litre supercharged V8​​​​​​​

Transmission: 8-speed automatic

Power: 542bhp​​​​​​​

Torque: 680Nm​​​​​​​

Price: Dh465,071

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The biog

Name: Shamsa Hassan Safar

Nationality: Emirati

Education: Degree in emergency medical services at Higher Colleges of Technology

Favourite book: Between two hearts- Arabic novels

Favourite music: Mohammed Abdu and modern Arabic songs

Favourite way to spend time off: Family visits and spending time with friends

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Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Who was Alfred Nobel?

The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.

  • In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
  • Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
  • Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
MISSION: IMPOSSIBLE – FINAL RECKONING

Director: Christopher McQuarrie

Starring: Tom Cruise, Hayley Atwell, Simon Pegg

Rating: 4/5

Updated: March 23, 2023, 3:00 AM