Saudi Arabia’s role in the Syrian conflict has been the subject of much speculation. Are the recent rebel gains in northern, central and southern Syria part of an escalation against Iranian-backed forces? Do these gains mark the beginning of the end for Bashar Al Assad?
Saudi Arabia has previously supported large-scale operations against the Syrian regime but those operations lacked a strategy. High expectations during such operations often led to disappointment and played into the regime’s hands.
It is clear that this time is different. Conversations within policy circles in the Gulf indicate that the regime’s downfall is not necessarily the goal right now. Nor is it to compel the Assad regime to negotiate. Instead, the goal is simply to project power through the rebels against Iran’s allies.
There is also an intention to strengthen Sunni militias to build stability. Various political and military forces within the country will be working towards one goal despite their different allegiances. Beyond influence, opposition forces will be backed to potentially lead future Syria. To achieve these goals, Saudi Arabia is working closely with Turkey and Qatar.
However, the gains made by the rebels in the north have little to do with Saudi Arabia. Turkey and Qatar have provided financial support to their allies. For more than a year, aid to groups widely known to be supported by Turkey and Qatar was blocked because of resistance from the US and Saudi Arabia. That changed recently and the rebels have since gained momentum.
There have been other key factors. Rebels in the north are working with more harmony than ever before. Ideologically aligned forces also worked in separate groups but closely coordinated with others through separate operations rooms.
The growing strength and coordination among the rebels comes amid a reverse trend within the regime forces. Even pro-government media channels have repeatedly acknowledged the gains have caused panic among the regime’s support base. Infighting has also been reported. Syrian army officials have complained of the Iranian role in weakening the military in favour of the National Defence Forces, a parallel force directly funded by Tehran.
These factors make Riyadh’s role more relevant. The kingdom has a plan to bring together various opposition forces against the regime.
In public, the plan involves political forces to eventually negotiate with the regime. But it also involves well-supplied rebel factions to fight the regime and aligned militias in the country. Syrian rebels led by Jabhat Al Nusra are already fighting Hizbollah in the Qalamoun region near Lebanon.
Division of labour is the new name of the game. Turkey and Qatar will coordinate with their allies on the ground and Saudi Arabia will directly assist internationally recognised moderate forces. The political opposition will be pressured to set its house in order and work together to formulate a more credible force to coordinate and mediate among various rebel factions.
After the dismantling of Hazm Movement and the Syrian Revolutionary Front from northern Syria, Saudi Arabia’s influence among the rebels is mostly in the south. Last week, Jaish Al Islam, a faction that operates mostly in the agricultural belt surrounding Damascus known as the Ghouta that is backed by Riyadh, put out an impressive military parade to celebrate the graduation of 1,700 fighters.
The display, a few kilometres from the presidential palace, added insult to injury for the regime. The president of the opposition’s National Coalition said this week that the unofficial ban on the rebels receiving anti-aircraft weapons will come to an end, a move that might shift the conflict dynamics quickly and lead to the creation of de facto safe havens in northern and southern Syria.
Despite Riyadh’s intentions, the defeat of the regime is not a foregone conclusion. The effort by Saudi Arabia might still be short-lived. The rebels require a much more long-term effort than coordination and increased weapon supplies. But the conflict is already changing and a new reality will soon emerge.
Hassan Hassan is a Middle East analyst and co-author of ISIS: Inside the Army of Terror
On Twitter: @hxhassan
The specs: 2018 Mercedes-AMG C63 S Cabriolet
Price, base: Dh429,090
Engine 4.0-litre twin-turbo V8
Transmission Seven-speed automatic
Power 510hp @ 5,500rpm
Torque 700Nm @ 1,750rpm
Fuel economy, combined 9.2L / 100km
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Users can also invite other contacts to download ToTok to allow them to make contact through the app.
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Infiniti QX80 specs
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German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
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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.”
The specs
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- Power: 640hp
- Torque: 760nm
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