An aid collection drive for Gaza at the American Community School of Abu Dhabi. Victor Besa / The National
An aid collection drive for Gaza at the American Community School of Abu Dhabi. Victor Besa / The National
An aid collection drive for Gaza at the American Community School of Abu Dhabi. Victor Besa / The National
An aid collection drive for Gaza at the American Community School of Abu Dhabi. Victor Besa / The National

Children need help to avoid being traumatised by violence in Gaza, UAE educators say


Anam Rizvi
  • English
  • Arabic

Live updates: Follow the latest news on Israel-Gaza

Schoolchildren must be offered counselling to ensure they are not traumatised by exposure to the Israel-Gaza war, leading experts have said.

Heads of schools and mental health experts have spoken of the long-term effects of being exposed to violent photos and videos.

In response to the continuing conflict, schools in the UAE are organising assemblies, counselling sessions and direct check-ins with pupils to make sure young people have access to the support they need.

The worry is that in their young brains, they might tend to normalise this
Nargish Khambatta,
Principal at Gems Modern Academy

“Counsellors did direct check-ins with all students to determine the level of support needed,” said Monique Flickinger, superintendent at the American Community School of Abu Dhabi.

“Specific students have attended multiple sessions with their counsellors.”

The school started the week with a short assembly reviewing the importance of community.

“We all reconnected and voiced how caring for each other makes a healthier and stronger community,” said Ms Flickinger.

“It was important that we reiterate our core values of compassion and integrity in everything that we do and that our counsellors would be available for each and every one of them.

“It could be as simple as a quick check-in or more as needed. We definitely had a group of students that wanted a little extra help.”

Difficulty in processing emotions

Nargish Khambatta, principal at Gems Modern Academy, said the school had held a circle time in which children were taught how to process their emotions.

“My problem is the desensitisation as they are seeing so much around them,” said Ms Khambatta.

“The worry is that in their young brains, they might tend to normalise this, which is a bigger worry for us.

“These are citizens of tomorrow – they're going to go out and be the decision makers, and they're the ones who are going to create the impact.

“If they're hearing different and polarising comments, they should be able to make a sense of it. Wherever they're hearing polarising comments, we tell them to pause and put on their rational hats and think. We teach them to use the lens of humanity.”

The school has a counselling team that is on call 24/7, while teachers are the first point of contact for those who want extra help.

  • From left: Pupils Malek Zuhdi, Masa Oklah, Marlee Mapstone and Aspen Murray take part in the aid collection campaign for Gaza, at the American Community School of Abu Dhabi. Victor Besa / The National
    From left: Pupils Malek Zuhdi, Masa Oklah, Marlee Mapstone and Aspen Murray take part in the aid collection campaign for Gaza, at the American Community School of Abu Dhabi. Victor Besa / The National
  • Schools in the UAE are hosting voluntary events for pupils to give to families in Gaza. Victor Besa / The National
    Schools in the UAE are hosting voluntary events for pupils to give to families in Gaza. Victor Besa / The National
  • Eighth-year pupil Masa Oklah, and Aspen Murray, who is in the third year, during the aid collection drive for Gaza at the American Community School of Abu Dhabi. Victor Besa / The National
    Eighth-year pupil Masa Oklah, and Aspen Murray, who is in the third year, during the aid collection drive for Gaza at the American Community School of Abu Dhabi. Victor Besa / The National
  • Pupils at the school are donating essentials such as such as diapers, toothpaste, soap and shampoo. Victor Besa / The National
    Pupils at the school are donating essentials such as such as diapers, toothpaste, soap and shampoo. Victor Besa / The National
  • Some of the goods donated by pupils and their families at American Community School of Abu Dhabi. Victor Besa / The National
    Some of the goods donated by pupils and their families at American Community School of Abu Dhabi. Victor Besa / The National
  • Marlee Mapstone, who is in the seventh year, takes part in the aid collection drive. Victor Besa / The National
    Marlee Mapstone, who is in the seventh year, takes part in the aid collection drive. Victor Besa / The National

Yaseen Aslam, medical director at the Psychiatry and Therapy Centre in Dubai, explained that images of conflict and war can trigger a range of powerful emotions in adults, and the effect is even greater in children.

“These emotions and reactions to war and conflict can be influenced by the child's age, as older children can be anxious, sad, depressed and disturbed by the images [while] younger children, if they're exposed to these kinds of images … they can feel a bit more clingy or they're not their usual selves,” Dr Aslam said.

“It's important to allow children to express their emotions and to also reassure them and validate their emotions, that's the important thing that parents have to give their children space and the time to process emotions in a non-judgmental manner.

“One of the problems is that if we don't support children, and allow them to validate their feelings and support them emotionally in the right way during these kinds of conflicts, they may go on to repress certain traumatic and distressing images and feelings, which can cause problems later on, in terms of post-traumatic stress reactions.

“The post-traumatic stress reactions can also create anxiety, phobias and depressive illnesses later on, which can affect the emotional and psychological development of the child. It's important to validate their feelings and allow them to process these feelings in a psychologically correct manner.”

He said it was an opportunity for schools to create opportunities in the classroom and to allow children to process their feelings, while offering access to any counselling services that they may have in the school.

This was especially vital for children from families who are more directly connected to the conflict.

“Some of the images we come across are very, very graphic, quite disturbing and these things can have an overwhelming effect on a child and can create a lot of trauma,” Dr Aslam said.

He called on parents to limit exposure in an age-appropriate manner, keeping in mind the developmental stage of the child.

Dr Aslam added that parents could help children by including them in acts of charity or volunteering, while also talking about what charity is and how to support those who are less fortunate.

The latest from the Israel-Gaza war – in pictures

  • Palestinians check the damage at the site of Israeli strikes on houses in Khan Younis in the southern Gaza Strip. Reuters
    Palestinians check the damage at the site of Israeli strikes on houses in Khan Younis in the southern Gaza Strip. Reuters
  • Israeli soldiers and military vehicles near the border with Gaza. EPA
    Israeli soldiers and military vehicles near the border with Gaza. EPA
  • Palestinians injured in Israeli air raids arrive at Nasser Medical Hospital in Khan Younis, Gaza. Getty Images
    Palestinians injured in Israeli air raids arrive at Nasser Medical Hospital in Khan Younis, Gaza. Getty Images
  • Protesters call for a ceasefire and the release of hostages held by Hamas since the October 7 attack. AFP
    Protesters call for a ceasefire and the release of hostages held by Hamas since the October 7 attack. AFP
  • The protest was held near the headquarters of the Israeli Defence Ministry in Tel Aviv. AFP
    The protest was held near the headquarters of the Israeli Defence Ministry in Tel Aviv. AFP
  • Smoke and flames rise from buildings after an Israeli strike on Gaza City. AFP
    Smoke and flames rise from buildings after an Israeli strike on Gaza City. AFP
  • Destruction in Gaza City after an Israeli air strike. AFP
    Destruction in Gaza City after an Israeli air strike. AFP
  • A wounded Palestinian is taken into Al Shifa hospital after Israeli air strikes on Gaza City. AP
    A wounded Palestinian is taken into Al Shifa hospital after Israeli air strikes on Gaza City. AP
  • Israelis at a cemetery in Holon during a funeral take cover as a siren warns of incoming rockets fired from the Gaza Strip. AP
    Israelis at a cemetery in Holon during a funeral take cover as a siren warns of incoming rockets fired from the Gaza Strip. AP
  • Posters of hostages abducted by Hamas form part of an installation consisting of 224 light pillars erected by the Jerusalem municipality outside Teddy Stadium. AFP
    Posters of hostages abducted by Hamas form part of an installation consisting of 224 light pillars erected by the Jerusalem municipality outside Teddy Stadium. AFP
  • Supporters of Palestine hold a rally in New York's financial district to demand that American financial institutions stop financing weapons manufacturing. AFP
    Supporters of Palestine hold a rally in New York's financial district to demand that American financial institutions stop financing weapons manufacturing. AFP
  • Army rescue crews assess the damage after a rocket fired from the Gaza Strip hit a building in Rishon LeTsiyon, Israel. Getty Images
    Army rescue crews assess the damage after a rocket fired from the Gaza Strip hit a building in Rishon LeTsiyon, Israel. Getty Images
  • Israeli strikes as seen from a tent camp sheltering displaced Palestinians. Reuters
    Israeli strikes as seen from a tent camp sheltering displaced Palestinians. Reuters
  • Israeli armoured vehicles take part in an operation, as the conflict between Israel and Hamas continues, at a location given as the northern Gaza Strip. Reuters
    Israeli armoured vehicles take part in an operation, as the conflict between Israel and Hamas continues, at a location given as the northern Gaza Strip. Reuters
  • A Palestinian man is comforted as he mourns the death of his daughter and his wife, who were killed by Israeli strikes. Reuters
    A Palestinian man is comforted as he mourns the death of his daughter and his wife, who were killed by Israeli strikes. Reuters
  • Satellite view of damaged areas in the Beit Hanoun district of Gaza as a result of fighting between Israel and Hamas. Reuters
    Satellite view of damaged areas in the Beit Hanoun district of Gaza as a result of fighting between Israel and Hamas. Reuters
  • Beit Hanoun was hit by Israeli missiles. Reuters
    Beit Hanoun was hit by Israeli missiles. Reuters
  • Two brothers on a stretcher after being rescued from beneath the rubble of a destroyed area in Gaza. EPA
    Two brothers on a stretcher after being rescued from beneath the rubble of a destroyed area in Gaza. EPA
  • Israeli security forces gather along a cordoned-off street where an apartment building was hit by a rocket fired from Gaza, in Rishon LeZion, near Tel Aviv. AFP
    Israeli security forces gather along a cordoned-off street where an apartment building was hit by a rocket fired from Gaza, in Rishon LeZion, near Tel Aviv. AFP
  • Rescuers in front of an apartment building hit by a rocket in the Israeli city of Rishon LeZion. AFP
    Rescuers in front of an apartment building hit by a rocket in the Israeli city of Rishon LeZion. AFP
  • Red Crescent Society employees and volunteers handle humanitarian aid bound for Gaza at a warehouse in Arish, Egypt. EPA
    Red Crescent Society employees and volunteers handle humanitarian aid bound for Gaza at a warehouse in Arish, Egypt. EPA
  • Men lower one of the coffins during the funeral of British-Israelis Lianne Sharabi and her daughters Noiya Sharabi, 16, and Yahel Sharabi, 13, in Kfar Harif, Israel. EPA
    Men lower one of the coffins during the funeral of British-Israelis Lianne Sharabi and her daughters Noiya Sharabi, 16, and Yahel Sharabi, 13, in Kfar Harif, Israel. EPA
  • An Israeli soldier in a ruined house in the kibbutz of Beeri, near the border with Gaza. EPA
    An Israeli soldier in a ruined house in the kibbutz of Beeri, near the border with Gaza. EPA
  • The aftermath of wide-scale strikes, which Israel says struck Hamas emergency operational apparatus, including war rooms, infrastructure and military headquarters, in Gaza. Reuters
    The aftermath of wide-scale strikes, which Israel says struck Hamas emergency operational apparatus, including war rooms, infrastructure and military headquarters, in Gaza. Reuters
  • Palestinians search for casualties after Israeli attacks on houses in Khan Younis in the southern Gaza Strip. Reuters
    Palestinians search for casualties after Israeli attacks on houses in Khan Younis in the southern Gaza Strip. Reuters
  • Rescuers look for casualties in Khan Younis. Reuters
    Rescuers look for casualties in Khan Younis. Reuters
  • Palestinian Ali Daba and his wife have separated their children and given them bracelets to help identify them in case they are killed in Israeli strikes. Their daughter shows her bracelet at their shelter in Khan Younis. Reuters
    Palestinian Ali Daba and his wife have separated their children and given them bracelets to help identify them in case they are killed in Israeli strikes. Their daughter shows her bracelet at their shelter in Khan Younis. Reuters
  • In Tel Aviv, teddy bears with their eyes covered and signs of injury go on show to highlight the young children and babies missing, believed to be being held by Hamas. Getty
    In Tel Aviv, teddy bears with their eyes covered and signs of injury go on show to highlight the young children and babies missing, believed to be being held by Hamas. Getty
  • Palestinians near the rubble of a building following overnight Israeli strikes on the Rafah refugee camp in the southern Gaza Strip. AFP
    Palestinians near the rubble of a building following overnight Israeli strikes on the Rafah refugee camp in the southern Gaza Strip. AFP
  • Members of the Palestine Red Crescent Society distribute aid in Deir Al Balah, in the Gaza Strip. Reuters
    Members of the Palestine Red Crescent Society distribute aid in Deir Al Balah, in the Gaza Strip. Reuters
  • Pro-Israel, left, and pro-Palestine protesters face off during a demonstration in reaction to the Gaza conflict, in central Atlanta, Georgia. EPA
    Pro-Israel, left, and pro-Palestine protesters face off during a demonstration in reaction to the Gaza conflict, in central Atlanta, Georgia. EPA
  • Orit Meir, the mother of Almog Meir Jan who was taken hostage by Hamas while attending the Nova festival in Israel, at the family's home in Or Yehuda. Reuters
    Orit Meir, the mother of Almog Meir Jan who was taken hostage by Hamas while attending the Nova festival in Israel, at the family's home in Or Yehuda. Reuters
  • A soldier puts on protective gear in Ramle, Israel, as he prepares to identify those killed by Hamas during the October 7 attack. Getty Images
    A soldier puts on protective gear in Ramle, Israel, as he prepares to identify those killed by Hamas during the October 7 attack. Getty Images
  • Palestinians wounded in Israeli air strikes arrive at Nasser hospital in Khan Younis, Gaza. Getty Images
    Palestinians wounded in Israeli air strikes arrive at Nasser hospital in Khan Younis, Gaza. Getty Images
  • US Secretary of State Antony Blinken, centre, speaks with the father of one of the hostages held by Hamas, before a UN Security Council meeting in New York. EPA
    US Secretary of State Antony Blinken, centre, speaks with the father of one of the hostages held by Hamas, before a UN Security Council meeting in New York. EPA
  • French President Emmanuel Macron, left, and Palestinian President Mahmoud Abbas attend a meeting in the occupied West Bank city of Ramallah. EPA
    French President Emmanuel Macron, left, and Palestinian President Mahmoud Abbas attend a meeting in the occupied West Bank city of Ramallah. EPA
  • Survivors of Israel's bombardment of Gaza being treated at a trauma ward at Nasser hospital in Khan Younis. AFP
    Survivors of Israel's bombardment of Gaza being treated at a trauma ward at Nasser hospital in Khan Younis. AFP
  • Smoke rises after an air strike on Gaza, as seen from southern Israel. Reuters
    Smoke rises after an air strike on Gaza, as seen from southern Israel. Reuters
  • A woman holds placards identifying one of the Israeli hostages held by Hamas during a demonstration in Tel Aviv. AFP
    A woman holds placards identifying one of the Israeli hostages held by Hamas during a demonstration in Tel Aviv. AFP
Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea

Men's football draw

Group A: UAE, Spain, South Africa, Jamaica

Group B: Bangladesh, Serbia, Korea

Group C: Bharat, Denmark, Kenya, USA

Group D: Oman, Austria, Rwanda

The years Ramadan fell in May

1987

1954

1921

1888

Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now

MIDWAY

Produced: Lionsgate Films, Shanghai Ryui Entertainment, Street Light Entertainment
Directed: Roland Emmerich
Cast: Ed Skrein, Woody Harrelson, Dennis Quaid, Aaron Eckhart, Luke Evans, Nick Jonas, Mandy Moore, Darren Criss
Rating: 3.5/5 stars

 

 

The specs: 2019 BMW i8 Roadster

Price, base: Dh708,750

Engine: 1.5L three-cylinder petrol, plus 11.6 kWh lithium-ion battery

Transmission: Six-speed automatic

Power: 374hp (total)

Torque: 570Nm (total)

Fuel economy, combined: 2.0L / 100km

The specs: 2018 Nissan 370Z Nismo

The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
​​​​​​​Fuel consumption, combined: 10.5L / 100km

The Bio

Hometown: Bogota, Colombia
Favourite place to relax in UAE: the desert around Al Mleiha in Sharjah or the eastern mangroves in Abu Dhabi
The one book everyone should read: 100 Years of Solitude by Gabriel Garcia Marquez. It will make your mind fly
Favourite documentary: Chasing Coral by Jeff Orlowski. It's a good reality check about one of the most valued ecosystems for humanity

23-man shortlist for next six Hall of Fame inductees

Tony Adams, David Beckham, Dennis Bergkamp, Sol Campbell, Eric Cantona, Andrew Cole, Ashley Cole, Didier Drogba, Les Ferdinand, Rio Ferdinand, Robbie Fowler, Steven Gerrard, Roy Keane, Frank Lampard, Matt Le Tissier, Michael Owen, Peter Schmeichel, Paul Scholes, John Terry, Robin van Persie, Nemanja Vidic, Patrick Viera, Ian Wright.

%E2%80%98FSO%20Safer%E2%80%99%20-%20a%20ticking%20bomb
%3Cp%3EThe%20%3Cem%3ESafer%3C%2Fem%3E%20has%20been%20moored%20off%20the%20Yemeni%20coast%20of%20Ras%20Issa%20since%201988.%3Cbr%3EThe%20Houthis%20have%20been%20blockading%20UN%20efforts%20to%20inspect%20and%20maintain%20the%20vessel%20since%202015%2C%20when%20the%20war%20between%20the%20group%20and%20the%20Yemen%20government%2C%20backed%20by%20the%20Saudi-led%20coalition%20began.%3Cbr%3ESince%20then%2C%20a%20handful%20of%20people%20acting%20as%20a%20%3Ca%20href%3D%22https%3A%2F%2Fwww.google.ae%2Furl%3Fsa%3Dt%26rct%3Dj%26q%3D%26esrc%3Ds%26source%3Dweb%26cd%3D%26ved%3D2ahUKEwiw2OfUuKr4AhVBuKQKHTTzB7cQFnoECB4QAQ%26url%3Dhttps%253A%252F%252Fwww.thenationalnews.com%252Fworld%252Fmena%252Fyemen-s-floating-bomb-tanker-millions-kept-safe-by-skeleton-crew-1.1104713%26usg%3DAOvVaw0t9FPiRsx7zK7aEYgc65Ad%22%20target%3D%22_self%22%3Eskeleton%20crew%3C%2Fa%3E%2C%20have%20performed%20rudimentary%20maintenance%20work%20to%20keep%20the%20%3Cem%3ESafer%3C%2Fem%3E%20intact.%3Cbr%3EThe%20%3Cem%3ESafer%3C%2Fem%3E%20is%20connected%20to%20a%20pipeline%20from%20the%20oil-rich%20city%20of%20Marib%2C%20and%20was%20once%20a%20hub%20for%20the%20storage%20and%20export%20of%20crude%20oil.%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3EThe%20%3Cem%3ESafer%3C%2Fem%3E%E2%80%99s%20environmental%20and%20humanitarian%20impact%20may%20extend%20well%20beyond%20Yemen%2C%20experts%20believe%2C%20into%20the%20surrounding%20waters%20of%20Saudi%20Arabia%2C%20Djibouti%20and%20Eritrea%2C%20impacting%20marine-life%20and%20vital%20infrastructure%20like%20desalination%20plans%20and%20fishing%20ports.%C2%A0%3C%2Fp%3E%0A
Key changes

Commission caps

For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:

• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term). 

• On the protection component, there is a cap  of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).

• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated. 

• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.

• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.

Disclosure

Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.

“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”

Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.

Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.

“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.

Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.

Some of Darwish's last words

"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008

His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.

Star%20Wars%3A%20Ahsoka%20
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Various%20%3Cbr%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Rosario%20Dawson%2C%20Natasha%20Liu%20Bordizzo%2C%20Lars%20Mikkelsen%20%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%0D%3Cbr%3E%3C%2Fp%3E%0A
The specs: 2017 Lotus Evora Sport 410

Price, base / as tested Dh395,000 / Dh420,000

Engine 3.5L V6

Transmission Six-speed manual

Power 410hp @ 7,000rpm

Torque 420Nm @ 3,500rpm

Fuel economy, combined 9.7L / 100km

Results

5pm: Handicap (PA) Dh80,000 (Turf) 1,600m; Winner: Nadhra, Fabrice Veron (jockey), Eric Lemartinel (trainer)

5.30pm: Maiden (PA) Dh80,000 (T) 1,400m; Winner: AF Dars, Tadhg O’Shea, Ernst Oertel

6pm: Handicap (PA) Dh80,000 (T) 1,400m; Winner: AF Musannef, Tadhg O’Shea, Ernst Oertel

6.30pm: Handicap (PA) Dh80,000 (T) 1,200m; Winner: AF Taghzel, Malin Holmberg, Ernst Oertel

7pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 2,200m; Winner: M’Y Yaromoon, Khalifa Al Neyadi, Jesus Rosales

7.30pm: Handicap (TB) Dh100,000 (PA) 1,400m; Winner: Hakeem, Jim Crowley, Ali Rashid Al Raihe

Match info

UAE v Bolivia, Friday, 6.25pm, Maktoum bin Rashid Stadium, Dubai

Company%20profile
%3Cp%3ECompany%20name%3A%20Shipsy%3Cbr%3EYear%20of%20inception%3A%202015%3Cbr%3EFounders%3A%20Soham%20Chokshi%2C%20Dhruv%20Agrawal%2C%20Harsh%20Kumar%20and%20Himanshu%20Gupta%3Cbr%3EBased%3A%20India%2C%20UAE%20and%20Indonesia%3Cbr%3ESector%3A%20logistics%3Cbr%3ESize%3A%20more%20than%20350%20employees%3Cbr%3EFunding%20received%20so%20far%3A%20%2431%20million%20in%20series%20A%20and%20B%20rounds%3Cbr%3EInvestors%3A%20Info%20Edge%2C%20Sequoia%20Capital%E2%80%99s%20Surge%2C%20A91%20Partners%20and%20Z3%20Partners%3C%2Fp%3E%0A

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.”

The bio

Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.

Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.

Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.

Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

Like a Fading Shadow

Antonio Muñoz Molina

Translated from the Spanish by Camilo A. Ramirez

Tuskar Rock Press (pp. 310)

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

 

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THE BIO

Favourite place to go to in the UAE: The desert sand dunes, just after some rain

Who inspires you: Anybody with new and smart ideas, challenging questions, an open mind and a positive attitude

Where would you like to retire: Most probably in my home country, Hungary, but with frequent returns to the UAE

Favorite book: A book by Transilvanian author, Albert Wass, entitled ‘Sword and Reap’ (Kard es Kasza) - not really known internationally

Favourite subjects in school: Mathematics and science

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home. 

Updated: October 25, 2023, 7:56 AM