DUBAI // The founder of the Dubai Women's Museum is preparing an encyclopaedia dedicated to Emirati women.
The book will celebrate the stories of UAE women, said Dr Rafia Ghubash.
The project was at the design stage, she said. "My thought is to start with an electronic one, a big screen here in the museum."
More than 1,000 people have visited the museum since it opened in December. But while tour companies regularly drop off bus loads of tourists in the nearby Gold Souq, no tour group has come to the museum so far - something Dr Ghubash hopes to change.
"They are not interested in our museum," she said. "Their intention is a very quick tour, not to learn about the society." But she is lobbying tour companies to change that attitude.
The museum collects artefacts, documents and stories about the role of women throughout UAE history.
"We are empowered since our grandmothers," Dr Ghubash said. "They work, they have businesses, they contribute."
It is a personal project of Dr Ghubash, a professor and psychiatrist who grew up in the surrounding area of Deira. The museum's location was once the home of three unmarried women. It was referred to by neighbours as "Bait Al Banat", or the girls' house.
"This is the heart of Dubai, and people forget this area," Dr Ghubash said.
Many people expected the museum to be a repository of clothing and jewellery, Dr Ghubash said. While the main gallery does have delicate dresses and perfumes, it also contains informational panels about women in society.
"We did our best to try to try to make the main issue politics, education, economic empowerment," Dr Ghubash said.
A panel about politics describes women's contributions dating back to the 19th-century. In 1819, women fought alongside men to defend Ras Al Khaimah against the British, who attacked from the sea. And in the following century, Sheikha Meera bint Mohammed Al Suwaidi governed Sharjah for two years while her husband was ill.
"They did not have a ruling position, but they were very important for influencing the Rulers," said Hawra Askari, the museum's coordinator.
Documents dating from the 1950s outline real estate transactions made by women.
"This is important evidence to show that women had the freedom," Ms Askari said.
The museum also contains a display of burqas, traditional face masks worn by women in the Arabian Gulf - distinct from the Afghan garment.
Women began wearing the soft masks when they married, polishing them with a shell for special occasions, Ms Askari said.
A glass case of "folkloric remedies" shows traditional treatments such as fenugreek - for kidney stones - and aloe, to ease digestive disorders.
Finally, a collection of household items, such as pots and utensils, was donated by local women. Before modern refrigeration, families were able to keep boiled and salted meat in glazed jars for more than a year, Ms Askari said.
Dr Ghubash's late mother has a special place in the museum, with an alcove under development that will trace the history of Dubai through her letters and papers.
In a photograph dating to about 1960, Dr Ghubash's mother is shown reading - she taught herself, using her brother's books.
Dr Ghubash said her mother used to tell her: "This issue of women's rights, they put it in the wrong way. Your right is with you; you are born with it. Nobody can give it to you."
The museum, near the Gold Souq behind RAK Bank, is open Saturday to Thursday, 10am to 7pm. Visit www.womenmuseumuae.com for information and directions.
vnereim@thenational.ae
MATCH INFO
Who: UAE v USA
What: first T20 international
When: Friday, 2pm
Where: ICC Academy in Dubai
Bharatanatyam
A ancient classical dance from the southern Indian state of Tamil Nadu. Intricate footwork and expressions are used to denote spiritual stories and ideas.
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How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
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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