Moideen Kunhahamed gets emotional on his last day of work at the British School Al Khubairat. Ravindranath K / The National
Moideen Kunhahamed gets emotional on his last day of work at the British School Al Khubairat. Ravindranath K / The National
Moideen Kunhahamed gets emotional on his last day of work at the British School Al Khubairat. Ravindranath K / The National
Moideen Kunhahamed gets emotional on his last day of work at the British School Al Khubairat. Ravindranath K / The National

Portait of a Nation: After 35 years, it’s time to retire for Abu Dhabi school worker


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ABU DHABI // When Moideen Kunhahamed was 28 years old, he left his hometown in Kerala and set off to secure a better future for himself in this country.

With the help of friends from his village who were already settled here, Mr Kunhahamed landed a maintenance job at Al Khubairat Community School. He stayed there until his retirement last month.

Standing in front of a room packed with teachers, administrators and support staff, Mr Kunhahamed wiped tears from his eyes as his colleagues honoured his 35 years of service to the school, which is now called the British School Al Khubairat.

“This is a sad, but happy time,” said Jo Czerpak, deputy head, who said he was five years old when Mr Kunhahamed began working at the school. “The amount of change that you’ve seen over the years is quite incredible. There were certainly fewer children, certainly fewer staff and fewer classrooms and buildings to go around, I would imagine.”

As the school grew over the years, so, too did Mr Kunhahamed’s responsibilities.

“Your major roles that I’ve seen – I’m sure there have been plenty over the years – have been the post collection and also the very important job of going to the bank with lots of cheques and the cash” issued to the school, Mr Czerpak said. “I think that tells a story in itself, that someone who is given that responsibility is very, very trustworthy and very, very highly regarded.”

But, even as his stature rose, Mr Kunhahamed, 63, was never above any job, no matter how menial, his colleagues said.

“He will do anything and he’ll never complain,” said Kelsie Clark, a pastoral administrator at the school who has worked with Mr Kunhahamed for five years. Every day, he would perform each task with a smile, Mrs Clark said.

“Look, look, look, he’s smiling now,” said Mrs Clark, gesturing towards Mr Kunhahamed as he shook hands with colleagues gathered around a cake and sweets to bid him a happy retirement. “That’s what he always looks like.”

During nearly four decades that he worked at the school, Mr Kunhahamed paid for education for his three daughters and two sons who lived with their mother in India. When his oldest son reached working age, Mr Kunhahamed secured a job for him at the school. His son worked there until 2008 and continues to live in Abu Dhabi. The rest of his adult children are in India.

Mr Kunhahamed, now that he has retired, will return to India to join his wife and live in the home that his job allowed him to build for his family. He now wants to focus his efforts on helping to raise his two grandsons and help with his son’s business.

“So I don’t think the work is going to be stopping entirely, but hopefully it’s going to be a little bit quieter than the last 35 years here,” Mr Czerpak said to Mr Kunhahamed. “That means that your family legacy will continue and I imagine you’ll put every effort into developing that legacy for your family that you put into working for BSAK.”

As the room flooded in applause, Mr Kunhahamed quietly expressed his appreciation. “Thank you very much,” he said.

rpennington@thenational.ae

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

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Nisab: the minimum amount that a Muslim must have before being obliged to pay zakat. Traditionally, the nisab threshold was 87.48 grams of gold, or 612.36 grams of silver. The monetary value of the nisab therefore varies by current prices and currencies.

Zakat Al Mal: the ‘cleansing’ of wealth, as one of the five pillars of Islam; a spiritual duty for all Muslims meeting the ‘nisab’ wealth criteria in a lunar year, to pay 2.5 per cent of their wealth in alms to the deserving and needy.

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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.

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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.

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