The circumambulation of the Kaaba is a renowned symbol of unity. AP
The circumambulation of the Kaaba is a renowned symbol of unity. AP
The circumambulation of the Kaaba is a renowned symbol of unity. AP
The circumambulation of the Kaaba is a renowned symbol of unity. AP


Hajj is rebounding, and not a moment too soon


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June 26, 2023

One of the world’s great journeys begins today, as the Hajj draws more than two million Muslims to Makkah, Saudi Arabia and its environs. This year’s number of pilgrims is more than double that of last year, when many pandemic restrictions were still in effect. Undertaking the pilgrimage is one of the five pillars of Islam and something every Muslim is expected to complete at least once in their lifetime.

Read the latest updates on the Hajj pilgrimage here

Today, Hajj is accessible to more people than ever before. In ancient times, the journey to Makkah was notoriously fraught – many would die along the way. The invention of trains, cars and aeroplanes paved the way for unprecedented numbers of pilgrims – 2019’sHajj, the last before the Covid-19 pandemic, saw 2.6 million of them. The sheer scale of human movement was a significant challenge for authorities to manage.

By 2030, however, Saudi Arabia wants to host six million Hajj visitors. A host of innovations have made that ambition possible to achieve. Since 2019, a high-speed train has regularly transported pilgrims and other travellers between the holy cities of Makkah and Madinah in just two hours – a trip that took Islam’s earliest devotees more than a week on camel back, and today takes four to six hours by car. Pilgrims also register their interest in Hajj nowadays through an app, and priority is given to those undertaking pilgrimage for the first time.

Saudi Arabia wants to host six million Hajj visitors

Although the Covid-19 pandemic deprived hundreds of thousands of people of the opportunity to undertake Hajj, one silver lining is that it has given Saudi authorities much experience in ensuring that the event can grow safely. Procedures have been put in place to check health documents, including vaccination certificates, and to screen travellers in person where necessary. Pilgrims will also be divided into groups for travel between holy sites, and the Saudi health ministry has vastly expanded the number of healthcare facilities available to pilgrims. Pilgrims will have access to 172 hospitals and health centres in Makkah and Madinah alone, with a total hospital bed capacity of more than six million.

The benefits of a much larger Hajj are clear to Muslims. The religious obligation for every Muslim to perform the pilgrimage was conceived in an era in which the number of worshippers was a tiny fraction of the two billion people it is today. That a mere thousandth or so of them have the privilege of fulfilling their duty every year is a result of logistical – not spiritual – constraints. Saudi authorities use all tools at their disposal to expand access as much as possible, keeping in mind the safety of pilgrims first and foremost.

But even beyond the Muslim community, Hajj stands out as one of the largest regular, peaceful gatherings of human beings in our species’ history. The circumambulation of the Kaaba, at the centre of Makkah’s holy mosque, is a spectacular visual depiction of unity easily recognisable by everyone, Muslim and non-Muslim alike. In an increasingly divided world, that reminder of people’s potential for unity is sorely needed.

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.

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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.”

Hili 2: Unesco World Heritage site

The site is part of the Hili archaeological park in Al Ain. Excavations there have proved the existence of the earliest known agricultural communities in modern-day UAE. Some date to the Bronze Age but Hili 2 is an Iron Age site. The Iron Age witnessed the development of the falaj, a network of channels that funnelled water from natural springs in the area. Wells allowed settlements to be established, but falaj meant they could grow and thrive. Unesco, the UN's cultural body, awarded Al Ain's sites - including Hili 2 - world heritage status in 2011. Now the most recent dig at the site has revealed even more about the skilled people that lived and worked there.

Classification of skills

A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation. 

A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.

The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000. 

The 24-man squad:

Goalkeepers: Thibaut Courtois (Chelsea), Simon Mignolet (Liverpool), Koen Casteels (VfL Wolfsburg).

Defenders: Toby Alderweireld (Tottenham), Thomas Meunier (Paris Saint-Germain), Thomas Vermaelen (Barcelona), Jan Vertonghen (Tottenham), Dedryck Boyata (Celtic), Vincent Kompany (Manchester City).

Midfielders: Marouane Fellaini (Manchester United), Axel Witsel (Tianjin Quanjian), Kevin De Bruyne (Manchester City), Eden Hazard (Chelsea), Nacer Chadli (West Bromwich Albion), Leander Dendoncker (Anderlecht), Thorgan Hazard (Borussia Moenchengladbach), Youri Tielemans (Monaco), Mousa Dembele (Tottenham Hotspur).

Forwards: Michy Batshuayi (Chelsea/Dortmund), Yannick Carrasco (Dalian Yifang), Adnan Januzaj (Real Sociedad), Romelu Lukaku (Manchester United), Dries Mertens (Napoli).

Standby player: Laurent Ciman (Los Angeles FC).

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Ziina users can donate to relief efforts in Beirut

Ziina users will be able to use the app to help relief efforts in Beirut, which has been left reeling after an August blast caused an estimated $15 billion in damage and left thousands homeless. Ziina has partnered with the United Nations High Commissioner for Refugees to raise money for the Lebanese capital, co-founder Faisal Toukan says. “As of October 1, the UNHCR has the first certified badge on Ziina and is automatically part of user's top friends' list during this campaign. Users can now donate any amount to the Beirut relief with two clicks. The money raised will go towards rebuilding houses for the families that were impacted by the explosion.”

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

THE BIO

Ms Davison came to Dubai from Kerala after her marriage in 1996 when she was 21-years-old

Since 2001, Ms Davison has worked at many affordable schools such as Our Own English High School in Sharjah, and The Apple International School and Amled School in Dubai

Favourite Book: The Alchemist

Favourite quote: Failing to prepare is preparing to fail

Favourite place to Travel to: Vienna

Favourite cuisine: Italian food

Favourite Movie : Scent of a Woman

 

 

Padmaavat

Director: Sanjay Leela Bhansali

Starring: Ranveer Singh, Deepika Padukone, Shahid Kapoor, Jim Sarbh

3.5/5

Updated: June 28, 2023, 4:05 AM