Filipino group seeks funds for legal aid



ABU DHABI // The high cost of hiring lawyers in the country has prompted the Filipino Expatriates in UAE Foundation (Filex UAE) to work on a long-term goal of providing members with legal assistance. "This will only become a reality when we have enough funds to sustain legal fees of a law firm or attorney's retainer fees," said Dick Orense, the chairman of the Filex UAE board of trustees.

However, legal assistance was only one of the benefits the group hoped to provide its members, he said. The Filex UAE is to launch a "membership fund campaign" to reach its goal of 100,000 members in a year's time. The initial plan, he said, was to recruit 10,000 members who would contribute Dh10 (US$2.70) for a one-year membership fee. Filipinos in the UAE are encouraged to take advantage of the one-off payment of Dh30, equivalent to a lifetime membership. Those with UAE residency visas must pay an annual insurance enrolment fee of Dh15 to be eligible for benefits including coverage for accidental death, total accident disability, payment for medical fees and repatriation of remains to the Philippines.

Noel Servigon, the consul general at the Philippine Embassy, confirmed that there was a recommendation in June that the Filex UAE should consider contracting a law firm on a retainer basis. The Filex UAE is expected to help the embassy, which seeks the approval of the foreign affairs department to help its migrant workers through the Philippine government's Legal Assistance Fund (LAF). "The amount may be limited to the annual appropriations of congress, but priority has been given to payment of lawyers to defend overseas Filipinos facing the death penalty," said Libran Cabactulan, the Philippine Ambassador to the UAE.

Legal assistance was authorised in two cases this year, he said. For cases in which the complainant and defendant are Filipinos, the embassy provides both sides with advice on how to secure legal services. "So far, there has been no death penalty case involving Filipinos on both sides," Mr Cabactulan said. "In other cases, we try our best to mediate between the protagonists to avoid court litigation, which is costly and time-consuming."

A lawyer in Dubai said fees largely depended on the nature of a case. "A client charged with drug possession, for instance, will be charged about Dh25,000 to Dh30,000," he said. "But the fees can go as high as Dh60,000 for a defendant in a murder case." However, he said his law firm had charged a consulate just Dh10,000 in 2006 to defend a woman accused of a drug trafficking offence. Mr Cabactulan said the embassy advised expatriate Filipinos to be aware of the legal procedures in the country they were living in, which can differ from those of the Philippines.

"Embassy officials are not authorised to represent Filipinos during police investigations and court hearings," he said. "They cannot also act as interpreters. However, we do our best to ensure that the welfare of Filipinos under investigation is protected and that their cases are speedily resolved." The embassy, he added, was also looking for a legal insurance scheme similar to that in Europe, in which legal advice was readily available.

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Company name: Fasset
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Based: Dubai
Sector: FinTech
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Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.

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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.

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.

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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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About Krews

Founder: Ahmed Al Qubaisi

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Founded: January 2019

Number of employees: 10

Sector: Technology/Social media 

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Price: from Dh209,000 

On sale: now


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