In the geopolitical sense, Pakistan and Afghanistan have a complicated relationship. That is putting it without any spice.
The complication is a product of ancient history: the border Afghanistan shares with the north-west region of Pakistan may as well not exist in a cultural and geographical sense.
It is also an exacerbation of modern, dirtier history. “Inseparable brothers”, the Afghan president Hamid Karzai called them, which captures exactly the resigned, less-than-loving fraternalism. Neither has often done right by the other in recent years.
Far be it for cricket to make anything less complex, but in the case of their cricket sides, it has managed.
Because, when the two sides play today in Sharjah, it will be partly the result of, and against the backdrop of, a healthy relationship that is almost unique in world cricket today.
Nothing should be taken away from Afghanistan’s wonderful rise through world cricket to where they are now. It is their achievement, theirs to own indisputably.
But not enough is often made of the role the Pakistan Cricket Board (PCB) has played, not in the rise directly, perhaps, but in enabling it.
“They’ve been really important,” the ICC’s global development manager Tim Anderson said. “The word is not adopt, but it is almost like they’ve adopted Afghanistan as their neighbour and really tried to help them out over the past couple of years.”
Today’s Twenty20 international will be the first Afghanistan have played against a full member outside of an ICC event.
In February 2012, they played Pakistan in an ODI in Sharjah, the first they had ever played against a full member (the only other full member they have played is Australia, also in Sharjah, in August 2012).
It stretches far beyond just international opportunities. Since 2008, the PCB has actually implemented at least 10 development initiatives with the Afghan cricket side, all through their own high-performance academy in Lahore, the National Cricket Academy (NCA).
These include hosting training camps for the World Cricket League, conducting high-performance training programmes for their cricketers under the NCA’s elite coaches, inviting the national side to participate in their domestic Twenty20 competitions, playing one-day games against the Pakistan ‘A’ side, designing education programmes for Afghan coaches and much else.
It is not financial assistance per se, because that is something the PCB cannot afford currently.
But by allowing their resources to be used, resources which have a financial value, it is almost as good.
The two boards recently signed an agreement formalising the relationship, in which further assistance to Afghanistan’s Under 19 side has been inked in, ahead of the World Cup in February 2014.
There are other examples of full members providing assistance to Associate nations. Australia, for instance, is committed to helping the region around it and has done a fair bit for Papua New Guinea. England’s relationship with Ireland and Scotland is a substantial one, if not always healthy.
Yet while Pakistan’s relationship with Afghanistan is anomalous, it could even someday serve as a template – could not the BCCI, for example, adopt an associate in a similar way? What about Nepal, where there is a history, by the way of some assistance?
It is commendable, too, given the messes and the constraints the PCB is under. The irony of the PCB helping another board to keep its house in order will not be lost on anyone.
Not surprisingly, the push for it has come from Subhan Ahmad, the PCB’s chief operating officer, one of its longest-serving and more influential officials.
He has been on the ICC’s development committee for some time and is acknowledged as a progressive voice on the cause of developing members.
He is merely acting within the strictures of his own board’s history, one that has always seen gradual expansion of the game in the surrounding region as an important ambition.
In the fights of Sri Lanka and Bangladesh to develop and attain full-member status, the Pakistan board stood firmly alongside them, pushing them, even. If Afghanistan ever get there, the PCB will not be anywhere else.
osamiuddin@thenational.ae
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UAE%20PREMIERSHIP
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KILLING OF QASSEM SULEIMANI
COMPANY PROFILE
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
Racecard
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Bert van Marwijk factfile
Born: May 19 1952
Place of birth: Deventer, Netherlands
Playing position: Midfielder
Teams managed:
1998-2000 Fortuna Sittard
2000-2004 Feyenoord
2004-2006 Borussia Dortmund
2007-2008 Feyenoord
2008-2012 Netherlands
2013-2014 Hamburg
2015-2017 Saudi Arabia
2018 Australia
Major honours (manager):
2001/02 Uefa Cup, Feyenoord
2007/08 KNVB Cup, Feyenoord
World Cup runner-up, Netherlands
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.”
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