Mohammed Naveed and Shaiman Anwar are facing life bans from cricket after being found guilty of corruption.
Naveed was the captain of the UAE national team, with Shaiman its leading batsman, when they were suspended in October 2019 on charges of breaching cricket’s anti-corruption code.
After a 13-month investigation, the two players had their case heard in November 2020.
A three-man independent tribunal, headed by Michael Beloff QC has now issued a 46-page report on the case.
The tribunal found both players guilty of two charges, including “being party to an agreement or effort to fix or contrive or otherwise influence improperly” matches at the 2019 T20 World Cup Qualifier.
The sanctions for the players are yet to be agreed, but the first charge carries with it a minimum ban of five years, with the maximum of being excluded from the sport for life.
Naveed was also found guilty of similar charges related to the Abu Dhabi T10 tournament, which followed the Qualifier at the end of 2019.
The findings detail the players meeting with someone referred to as “Mr X” in the report, on a beach in Ajman on October 1, 2019.
During the meeting, the report says spot fixes for UAE’s matches against Oman and Ireland in the Qualifier tournament were discussed.
According to the witness statement, Naveed “said that he would give away runs in his bowling overs, and that Mr Anwar, if he was still in, would score a low amount of runs in his fourth and fifth overs.”
“As captain of the UAE team, Mr Naveed also told him that he had the team with him and therefore could ensure that whatever fix Mr X wanted, he could make sure it happened,” the report states.
According to WhatsApp messages the day after the meeting at the beach, quoted in the report, the figures proposed by Anwar and Naveed for separate fixes were: “First work 1lakh dh, [$27,000], 2nd work 5 lakh dh, [$136,000], 3rd work 1m dh [$270,000].”
The players acknowledged the meeting on October 1 had taken place – and admitted a failure to report the approach in good time to the ICC’s anti-corruption unit – but denied contriving to fix.
“It was never satisfactorily explained to the Tribunal why, if either Defendant had been the recipient of a corrupt approach on October 1 from Mr X, they continued to be in contact with him thereafter,” the report states.
“Mr Anwar provided Mr X with no less than three separate telephone numbers [including one he says belonged to his barber] which is not the act of someone who wished to distance himself from him. In addition, he met him again on October 4.
“Mr Naveed for his part asked Mr X for an account number for the nature of which he gave three separate inconsistent explanations of which, in context, only the third that it was a betting account seemed to fit the bill. It was not suggested that either was playing the role of sleuth for the benefit of the ICC.
“Their behaviour was wholly inconsistent with that of persons repelled by a corrupt approach; and wholly consistent with that of persons who either instigated such an approach or were willing recipients of one.”
The Emirates Cricket Board declined to comment on the findings against their players.
“The board won't be issuing a statement at this stage,” said an ECB spokesperson.
Three other UAE players also remain banned by the ICC, pending an anti-corruption investigation into the sport in the Emirates.
Qadeer Ahmed, a seam bowler, was also suspended at the same time as Naveed and Shaiman, on a variety of charges of breaching cricket’s anti-corruption code.
In September 2020, opening batsman Ashfaq Ahmed and fast bowler Amir Hayat were charged by the ICC with five counts of breaching the anti-corruption code.
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UAE currency: the story behind the money in your pockets
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
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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.”
COMPANY PROFILE
● Company: Bidzi
● Started: 2024
● Founders: Akshay Dosaj and Asif Rashid
● Based: Dubai, UAE
● Industry: M&A
● Funding size: Bootstrapped
● No of employees: Nine
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