Israeli children with toy guns pretend to play war games around a kindergarten near the border with Gaza Strip. Photo: Menahem Kahana / AFP
Israeli children with toy guns pretend to play war games around a kindergarten near the border with Gaza Strip. Photo: Menahem Kahana / AFP

The pursuit of vengeance by both sides will brutalise us all



On Monday October 28, 1996 I was almost 15 years old. I arrived home from school to a blaring television. An Arabic news channel was talking about a heinous crime committed by an Israeli settler against a 10-year-old boy in the West Bank. I was preoccupied with an impending school exam and didn’t pay much attention.

It wasn’t until the following day that Helmy Shousha’s name became imprinted on my mind. Holding the newspaper that day, I stared at the photograph of a 10-year-old boy, wrapped in a glossy satin white cloth and the Palestinian flag. His mother was leaning over his lifeless body, kissing his left cheek. I remember that despite his swollen face, he looked heartbreakingly peaceful, and very young.

I would subsequently learn that Nahoom Korman, an Israeli settler in the West Bank, killed Helmy using the back of his gun. In 1999, an Israeli court ruling decided that the killing was not deliberate. Korman was sentenced to six months of community service in an elderly care home and a $17,500 fine.

Many more Palestinian children, men and women would follow Helmy. These hate crimes committed by settlers would mostly go unpunished, creating an environment ripe for mutual hate and festering vengeance.

I don’t remember how old I was when I developed a passionate patriotism about my people’s cause. For Palestinians like myself, growing up in the diaspora and forced to tolerate the injustice of forced exile, that passionate patriotism is in your DNA.

I grew up in a culture that preached resistance as the only way to get our rights and freedom back, especially after so many failed peace initiatives and political power play. We are a small population facing one of the strongest forces in the world. It was empowering to watch Molotov cocktails and medium-sized stones being hurled at tanks and heavily armed soldiers by masked young men and women. Weak though we are, there is something we can still do to resist a strangling occupation, one that occupies your soul and your physical space.

And then you get to know about the darker side of resistance. Hijacked commercial planes, suicide bombers and the most recent: synagogue attacks using meat cleavers. A couple of days after the synagogue attack, I scrolled down my Facebook feed to see an image that would send a chill down my spine. The image was of an axe with drops of blood drops. It had a tag line that praised the synagogue “operation”.

It reminded me of Israel’s prime minister Benjamin Netanyahu’s praise for his most recent “operation” in Gaza. Hate crimes seems to have whole new terms now. The chill that runs down my spine and the rage that wells up in my heart spring from the realisation that we seem to be letting our moral standards slip.

As a patriotic Palestinian, you are unable to criticise. You are unable to condemn any act of aggression, violence or murder against your occupier. If you do, you are shamed by the long list of those that have been brutally murdered, tortured, kidnapped and insulted. If you do, your loyalties are questioned. If you do, you are told that the occupiers should bear the consequences. If you do, you are played endless videos of crying mothers, shown pictures of burnt children and read scripts of hateful speeches from rabbis inciting the murder of Palestinian children.

As much as I understand that these acts are the result of the environment of hate so carefully nurtured by Israel, I can’t help but reject this blind, bloodthirsty search for vengeance.

As much as I know that the collective punishment of Palestinians as a result of each act of vengeance will naturally fuel more hatred, I can’t endorse that either.

I know the kind of hopelessness that young Palestinians face after decades of terror, occupation and humiliation but I can’t accept these Israeli “operations” as the norm of Palestinian existence, resistance and identity.

When I condemn acts of vengeance by Palestinians, I fear the alienation of speaking up. But I fear, far more, the thought that extremism will take over the true Palestinian identity.

Rana Askoul is a UAE-based writer

On twitter: @RanaAskoul

PROFILE OF SWVL

Started: April 2017

Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh

Based: Cairo, Egypt

Sector: transport

Size: 450 employees

Investment: approximately $80 million

Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani

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.”