• Dr Nadia Al Sayegh, founder and director general of Senses Residential and Day Care for Special Needs with a student. All photos: Chris Whiteoak / The National
    Dr Nadia Al Sayegh, founder and director general of Senses Residential and Day Care for Special Needs with a student. All photos: Chris Whiteoak / The National
  • Emirati women of determination take to the stage in Dubai to celebrate Emirati Women's Day
    Emirati women of determination take to the stage in Dubai to celebrate Emirati Women's Day
  • Participants play the drums
    Participants play the drums
  • A number of Emirati women of determination were celebrated on Emirati Women's Day
    A number of Emirati women of determination were celebrated on Emirati Women's Day
  • Guests enjoy a day full of musical performances
    Guests enjoy a day full of musical performances
  • People dance to a song performed by Suchetha Satish
    People dance to a song performed by Suchetha Satish
  • A number of Emirati women of determination took part in the event
    A number of Emirati women of determination took part in the event

UAE

Emirati women with disabilities champion inclusivity at Dubai event

The celebratory gathering featured a series of panel discussions, with participants sharing how they have overcome challenges and adversity in order to thrive

Salam Al Amir
Salam Al Amir

August 28, 2023

  • English
  • Arabic

Emirati women with disabilities took centre stage in Dubai on Monday to share inspiring stories and champion inclusivity and female empowerment.

Community members came together at Senses Residential and Day Care for Special Needs on Emirati Women's Day to honour the crucial contributions of those who have refused to put limits on what they can achieve.

The celebratory gathering featured a series of panel discussions led by disabled Emirati women, who shared how they have overcome challenges and adversity in order to thrive.

Female leaders, who have dedicated lives and careers to advancing the rights of women with disabilities, were also celebrated.

Among those was Dr Nadia Al Sayegh, who formed the care facility to ensure young people with special needs were provided with round-the-clock care.

Her mission won the support of Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, who provided a purpose-built day care centre in Dubai after hearing of Dr Al Sayegh's work.

The Dubai event celebrated Emirati women. Chris Whiteoak / The National
The Dubai event celebrated Emirati women. Chris Whiteoak / The National

Another guest honoured was Iman Ismail Abdullah, who has long sought to bolster the rights of disabled women.

A number of women with disabilities were commended for reaching their goals and acting as role models.

The event offered an opportunity to reflect on the important strides made in creating a fairer society for all.

People with disabilities and their families were joined by officials from the public and private sector, and a number of dignitaries.

Senses Residential and Day Care for Special Needs, a non-profit charitable organisation, was established in 2004.

The centre's 22 classrooms can each accommodate up to six children, two special needs teachers and an assistant.

The dedicated hub also features speech therapy labs, occupational therapy rooms and sensory and hydrotherapy rooms.

Emirati Women's Day was founded in 2015 by Sheikha Fatima, Mother of the Nation, and is observed each year on August 28.

It recognises the accomplishments of Emirati women and the key role they have played in the rise of the Emirates since its formation in 1971.

Our legal consultants

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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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On Women's Day

'Unrivaled: Why America Will Remain the World’s Sole Superpower'
Michael Beckley, Cornell Press

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

Updated: August 28, 2023, 2:14 PM
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