How Abraham Accords changed people's lives in UAE and Bahrain


Gillian Duncan
  • English
  • Arabic

For decades, the 50 or so members of Bahrain’s Jewish community practised their religion largely behind closed doors.

The Abraham Accords, signed a year ago in Washington by the UAE, Bahrain and Israel, changed that overnight.

The community was once again able to practise its faith openly, as it had for decades after it was established in the late 1800s by Jewish traders in Basra, who heard about the opportunities Bahrain offered.

There is a genuine expression in each country and in people of happiness, enthusiasm, curiosity and interest
Eitan Na'eh,
Israel's head of mission to the UAE

A synagogue, which was built in the early 1900s but ransacked after the creation of Israel, is now renovated and ready for worshippers.

“It’s got a Torah in there and it’s all decked out and ready and we are trying to have Saturday services,” said the leader of the community, Ebrahim Nonoo, a Bahraini who lives in Manama.

“We have started that but unfortunately the community is so small you can’t even get 10 people to attend. Before the accords ... we did everything at home. And we got so used to doing everything at home it became kind of second nature.”

Plans are now afoot to install a rabbi to nurture the community and Mr Nonoo, 61, said the accords were proving to have their own momentum.

Political deal that changed lives of ordinary people

Although the accords were signed by the top level of the three governments involved, it has had a significant effect on the ground.

“This accord is not just between government and nations but between people,” said Rabbi Dr Elie Abadie, the UAE’s senior rabbi in residence.

“The community in the UAE can now be proud of being Jewish. The regular Jew who wishes to wear a kippah, a head covering, can wear it in the street without any fear of repercussion or having to look over their shoulder. And certainly visit places of worship that are known to the public and sanctioned and authorised by the government.

“It has made life in the UAE a lot more comfortable by having kosher establishments, restaurants, catering."

One of those companies, established in the months after the agreement was signed, could help the UAE become a major exporter of kosher food.

Kosher Arabia produces more than 2,000 meals a day from its 1,858-square-metre kitchen in Dubai. It focuses on catering for Emirates and other airlines, as well as for hotels and events.

It is only one of the kosher caterers that OU Kosher, the world’s largest certification agency, is working with in the UAE and the wider Middle East and Africa region, since the establishment of the accords.

“We have been involved in advising different programmes in the emirates,” said Rabbi Menachem Genack, OU Kosher's chief executive.

“There has been tremendous interest in the UAE, Bahrain and also now Morocco", where about 250,000 Jews lived during the Second World War, he said.

The accords have led to the establishment of a variety of business ties and new companies investing in the UAE, experts said.

Making business and peace

Dorian Barak, one of the region's leading fund managers and co-founder of the UAE-Israel Business Council, estimates there has been $500 million of business done in the year since the accords were signed.

Mr Barak, an American living in Israel with residency in Dubai, said more than 500 Israeli companies were now operating in the UAE.

Several dozen companies and families have established themselves in the UAE over the past six months, he said.

They work in many different sectors, including security, technology, sales and renewables.

Asher Fredman, chief executive of Gulf-Israel Green Ventures, set up the first and largest forum to bring Emiratis and Israelis together to find opportunities for eco-tech co-operation after the accords were signed.

Israel can learn a lot from the UAE's green technology achievements, he said, such as the establishment of Masdar City and the country’s solar fields.

Co-operation can help both countries achieve their goals, which include ambitious targets to develop their desert regions, increase renewables and reduce water consumption.

“Not only will this make a lot of business sense for both sides and people will do really well, but I think it will help both of our countries move forward and become leaders in our fields," he said.

“I think this collaboration can really help. It’s sort of a win-win for everybody.”

A new diplomatic mission

One of the most visible and symbolic signs of the normalisation of relations is the establishment of embassies in each country.

Eitan Na'eh, Israel's head of mission to the UAE, is responsible for setting up the embassy in the country.

For now, the embassy is working on setting up, mapping the people and institutions in the UAE and deepening relationships between the countries.

The pandemic has slowed things down, Mr Na'eh said.

“We would have had way more Emirati people visiting Israel, and way more Israeli officials and Israeli people visiting Abu Dhabi,” he said.

Because Dubai was open, many Israelis visited. By December, an estimated 50,000 Israelis had travelled to the UAE.

The welcome they received was warm, he said.

“People would stop Israelis on the street. If I entered a coffee place, people would send cakes to the table. There were people really keen to talk to Israelis,” Mr Na'eh said.

“The same thing happened to the few Emiratis who went to visit Israel. There is a genuine expression in each country and in people in their own way of happiness, enthusiasm, curiosity and interest.

"That was also true to the business community who flocked, mainly to Dubai because Abu Dhabi was closed, to look for business opportunities, to look for co-operation – to get to know what is possible.”

The specs

Engine: 6.2-litre V8

Transmission: ten-speed

Power: 420bhp

Torque: 624Nm

Price: Dh325,125

On sale: Now

The National Archives, Abu Dhabi

Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.

Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part one: how cars came to the UAE

 

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

Read part one: how cars came to the UAE

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%3Cp%3E%3Cstrong%3EEnablers%20of%20digital%20services%3C%2Fstrong%3E%3Cbr%3E%E2%80%A2%20Blockchain%20and%20cryptocurrency%3Cbr%3E%E2%80%A2%20Crowdfunding%3Cbr%3E%E2%80%A2%20Banking-as-a-service%3Cbr%3E%E2%80%A2%20Banking%20identification%20number%20sponsors%3Cbr%3E%E2%80%A2%20Issuers%2Fprocessors%3Cbr%3E%E2%80%A2%20Programme%20managers%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDigital%20issuance%3C%2Fstrong%3E%3Cbr%3E%E2%80%A2%20Blockchain%20and%20cryptocurrency%3Cbr%3E%E2%80%A2%20Alternative%20lending%3Cbr%3E%E2%80%A2%20Personal%20financial%20management%3Cbr%3E%E2%80%A2%20Money%20transfer%20and%20remittance%3Cbr%3E%E2%80%A2%20Digital%20banking%20(neo%20banks)%3Cbr%3E%E2%80%A2%20Digital%20wallets%2C%20peer-to-peer%20and%20transfers%3Cbr%3E%E2%80%A2%20Employee%20benefits%3Cbr%3E%E2%80%A2%20Payables%3Cbr%3E%E2%80%A2%20Corporate%20cards%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EValue-add%20for%20merchants%2Fconsumers%3C%2Fstrong%3E%3Cbr%3E%E2%80%A2%20Data%20and%20analytics%3Cbr%3E%E2%80%A2%20ID%2C%20authentication%20and%20security%3Cbr%3E%E2%80%A2%20Insurance%20technology%3Cbr%3E%E2%80%A2%20Loyalty%3Cbr%3E%E2%80%A2%20Merchant%20services%20and%20tools%3Cbr%3E%E2%80%A2%20Process%20and%20payment%20infrastructure%3Cbr%3E%E2%80%A2%20Retail%20technology%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESME%20recovery%3C%2Fstrong%3E%3Cbr%3E%E2%80%A2%20Money%20movement%3Cbr%3E%E2%80%A2%20Acceptance%3Cbr%3E%E2%80%A2%20Risk%20management%3Cbr%3E%E2%80%A2%20Brand%20management%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ENew%20categories%20for%202023%3C%2Fstrong%3E%3Cbr%3E%E2%80%A2%20Sustainable%20FinTechs%3Cbr%3E%E2%80%A2%20Risk%3Cbr%3E%E2%80%A2%20Urban%20mobility%3C%2Fp%3E%0A
The Bio

Favourite place in UAE: Al Rams pearling village

What one book should everyone read: Any book written before electricity was invented. When a writer willingly worked under candlelight, you know he/she had a real passion for their craft

Your favourite type of pearl: All of them. No pearl looks the same and each carries its own unique characteristics, like humans

Best time to swim in the sea: When there is enough light to see beneath the surface

Kandahar%20
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The past winners

2009 - Sebastian Vettel (Red Bull)

2010 - Sebastian Vettel (Red Bull)

2011 - Lewis Hamilton (McLaren)

2012 - Kimi Raikkonen (Lotus)

2013 - Sebastian Vettel (Red Bull)

2014 - Lewis Hamilton (Mercedes)

2015 - Nico Rosberg (Mercedes)

2016 - Lewis Hamilton (Mercedes)

2017 - Valtteri Bottas (Mercedes)

Match info

Liverpool 3
Hoedt (10' og), Matip (21'), Salah (45 3')

Southampton 0

Dust and sand storms compared

Sand storm

  • Particle size: Larger, heavier sand grains
  • Visibility: Often dramatic with thick "walls" of sand
  • Duration: Short-lived, typically localised
  • Travel distance: Limited 
  • Source: Open desert areas with strong winds

Dust storm

  • Particle size: Much finer, lightweight particles
  • Visibility: Hazy skies but less intense
  • Duration: Can linger for days
  • Travel distance: Long-range, up to thousands of kilometres
  • Source: Can be carried from distant regions

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

Name: Thndr

Started: October 2020

Founders: Ahmad Hammouda and Seif Amr

Based: Cairo, Egypt

Sector: FinTech

Initial investment: pre-seed of $800,000

Funding stage: series A; $20 million

Investors: Tiger Global, Beco Capital, Prosus Ventures, Y Combinator, Global Ventures, Abdul Latif Jameel, Endure Capital, 4DX Ventures, Plus VC,  Rabacap and MSA Capital

First Person
Richard Flanagan
Chatto & Windus 

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
Tips to stay safe during hot weather
  • Stay hydrated: Drink plenty of fluids, especially water. Avoid alcohol and caffeine, which can increase dehydration.
  • Seek cool environments: Use air conditioning, fans, or visit community spaces with climate control.
  • Limit outdoor activities: Avoid strenuous activity during peak heat. If outside, seek shade and wear a wide-brimmed hat.
  • Dress appropriately: Wear lightweight, loose and light-coloured clothing to facilitate heat loss.
  • Check on vulnerable people: Regularly check in on elderly neighbours, young children and those with health conditions.
  • Home adaptations: Use blinds or curtains to block sunlight, avoid using ovens or stoves, and ventilate living spaces during cooler hours.
  • Recognise heat illness: Learn the signs of heat exhaustion and heat stroke (dizziness, confusion, rapid pulse, nausea), and seek medical attention if symptoms occur.
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T10 Cricket League
Sharjah Cricket Stadium
December 14- 17
6pm, Opening ceremony, followed by:
Bengal Tigers v Kerala Kings 
Maratha Arabians v Pakhtoons
Tickets available online at q-tickets.com/t10

The specs: 2019 Haval H6

Price, base: Dh69,900

Engine: 2.0-litre turbocharged four-cylinder

Transmission: Seven-speed automatic

Power: 197hp @ 5,500rpm

Torque: 315Nm @ 2,000rpm

Fuel economy, combined: 7.0L / 100km

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Updated: August 12, 2021, 6:05 AM