SHARJAH // Police are investigating whether medical negligence at Al Qassimi Hospital led to the death of a mother of three.
The woman's mother filed the complaint after the death of her daughter Samaha, 27, in February.
Umm Ayman blames the death on an operation her daughter underwent at the hospital two years earlier to relieve pain in her knee.
In her complaint, she accused those who took part in the surgery - full-time staff and a doctor visiting from France - of negligence.
"We believe there was a medical error committed that led to my daughter's deterioration and then her death," she said.
Samaha was suffering pain in her knee when admitted to the hospital and doctors decided to operate on her stomach to reduce her weight. She weighed 96 kilograms.
But Umm Ayman said that after the operation her daughter suffered from stomach problems and would pass out for unknown reasons.
A spokesman at Al Heera Police Station confirmed police had asked the hospital to present Samaha's file with details of her treatment from the day she went to the hospital to the day her death certificate was signed. He said all those who participated in the operation would be investigated.
Dr Abdul Wahed Al Wahdawi, the deputy director of technical affairs at the hospital, said Samaha had been told of the risks with the operation and decided to go ahead.
"The medical team carried out all procedures ethically and with professionalism," Dr Al Wahdawi said.
Samaha, who was married to an Emirati, left three children, Maryam, 7, Mohammed, 5, and Huda, 3.
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The specs
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Transmission: 6-speed auto
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On sale: now
Company profile
Date started: Founded in May 2017 and operational since April 2018
Founders: co-founder and chief executive, Doaa Aref; Dr Rasha Rady, co-founder and chief operating officer.
Based: Cairo, Egypt
Sector: Health-tech
Size: 22 employees
Funding: Seed funding
Investors: Flat6labs, 500 Falcons, three angel investors
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Rahul Gandhi in UAE:
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.”
