Addicts require support in their fight to remain clean of drugs. Philip Cheung / The National
Addicts require support in their fight to remain clean of drugs. Philip Cheung / The National
Addicts require support in their fight to remain clean of drugs. Philip Cheung / The National
Addicts require support in their fight to remain clean of drugs. Philip Cheung / The National

Mutual support can help addicts


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It is no secret that illicit drugs ruin lives. They harm the individuals who use them, their families and friends, and the wider community. The devastating effects of serious drugs, such as heroin, cocaine, methadone, LSD and ecstasy, are especially well documented – and that is why their import, sale and use is forbidden, or restricted for medical purposes, in jurisdictions around the world. But it is also true that these drugs, and others, are highly addictive and that the people who fall into their grip can find it almost impossible to escape. That is why we need to support initiatives that help addicts give up their habits and remain drug-free.

As The National reported yesterday, Narcotics Anonymous is filling an important role. According to its spokesman, Mohammed, it caters to 110 addicts who attend meetings conducted weekly across the Emirates in several languages, including Arabic, English, Russian and Nepalese. Similar to Alcoholics Anonymous, participants must admit their addiction and their willingness to undertake a step-by-step process that involves behavioural change, a desire to atone for past mistakes and help others.

It is important that those who attend these meetings can do so knowing that they are welcome regardless of their religion, creed or gender, and without the fear that they are under official surveillance. Supporting such a programme does not mean decriminalising drugs or requiring law enforcement officers to go soft on offenders. Those who traffic in drugs, and those who continue to use illegal drugs, must face the full force of the law. The NA programme and others like it, run by mosques, churches, hospitals and community groups, are about giving hope and a way out of a deadly cycle to people who have a genuine desire to rehabilitate.

The fight against drugs is multi-pronged. Customs officials, police and the justice system have important roles to play, but we can only create a drug-free environment by eliminating the demand. And that means making sure that people with drug addictions are supported in their efforts to stay clean.

MATCH INFO

Bayern Munich 2 Borussia Monchengladbach 1
Bayern:
 Zirkzee (26'), Goretzka (86')
Gladbach: Pavard (37' og)

Man of the Match: Breel Embolo (Borussia Monchengladbach)

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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.”

If you go

The flights

Fly direct to London from the UAE with Etihad, Emirates, British Airways or Virgin Atlantic from about Dh2,500 return including taxes. 

The hotel

Rooms at the convenient and art-conscious Andaz London Liverpool Street cost from £167 (Dh800) per night including taxes.

The tour

The Shoreditch Street Art Tour costs from £15 (Dh73) per person for approximately three hours.