Shariq Alvi is in Lifeline Hospital in Abu Dhabi after suffering a brain haemorrhage while between jobs. Lee Hoagland / The National
Shariq Alvi is in Lifeline Hospital in Abu Dhabi after suffering a brain haemorrhage while between jobs. Lee Hoagland / The National

Hospital bill mounts for uninsured man



ABU DHABI // An Indian man has run up Dh600,000 in medical bills for six months of hospital treatment after he suffered a brain haemorrhage while between jobs.

On March 12 this year, Shariq Alvi, 26, was found unconscious on the bathroom floor by his mother.

He was taken to Lifeline Hospital where doctors found a blood vessel in his brain had ruptured because of high blood pressure.

Unfortunately for Shariq, he had just resigned from a job in a bank so he could move to a higher-paid position with another company.

This meant he had no medical insurance at the time he fell ill.

During the past six months in hospital Shariq’s condition has been improving gradually.

His parents say the medical bill has come to Dh600,000, which they just cannot afford, as Shariq was their main breadwinner.

But hospital management denies suggestions that it has demanded the fees, and says it is time for Shariq to go home to his family.

“Shariq has been with us since the past six months and we are taking care of him as our family member,” said Dr Lalu Chacko, medical director of the hospital.

“We never asked them to pay the bill. We just want them to take their child home and take care of him.”

Mahboob Alvi, Shariq’s father, said: “Shariq’s former colleagues have co-operated with us a lot. They collected about Dh22,000 to support us but this is not enough.

“We need to pay about Dh600,000 to the hospital.”

Mr Alvi Sr showed a bill dated May 22 this year, stating that Dh321,790 was owed to the hospital.

“We know the final bill will be double this amount,” he said.

He said that since Shariq became ill, they have had to sell his wife’s and daughter’s gold jewellery just to survive.

“My eldest daughter and her husband also took out a loan to take care of our expenses, but the struggle seems to be unending,” Mr Alvi said.

The management at Lifeline Hospital said they had been providing a high level of care to the patient.

“We have done all that is necessary and still continue to do so. He is, in fact, our longest ever in-patient at the hospital,” said Dr Chacko.

“Now he is medically fit to go home. He needs family affection and comfort for recovery.”

Dr Chacko believed Shariq would be able to live a normal life again but it would take time.

“But he cannot stay anymore in the hospital,” he said.

“The more he stays the more he will be in danger of different kinds of infections. His immune system is very low because of his illness.

“We are very sensitive and responsible about each of our patients, regardless of their financial status.”

If anyone can help the Shariq family, they can be contacted on email at abid981@rediffmail.com.

akhaishgi@thenational.ae

THURSDAY FIXTURES

4.15pm: Italy v Spain (Group A)
5.30pm: Egypt v Mexico (Group B)
6.45pm: UAE v Japan (Group A)
8pm: Iran v Russia (Group B)

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.”

How to watch Ireland v Pakistan in UAE

When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.

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The Pope's itinerary

Sunday, February 3, 2019 - Rome to Abu Dhabi
1pm: departure by plane from Rome / Fiumicino to Abu Dhabi
10pm: arrival at Abu Dhabi Presidential Airport


Monday, February 4
12pm: welcome ceremony at the main entrance of the Presidential Palace
12.20pm: visit Abu Dhabi Crown Prince at Presidential Palace
5pm: private meeting with Muslim Council of Elders at Sheikh Zayed Grand Mosque
6.10pm: Inter-religious in the Founder's Memorial


Tuesday, February 5 - Abu Dhabi to Rome
9.15am: private visit to undisclosed cathedral
10.30am: public mass at Zayed Sports City – with a homily by Pope Francis
12.40pm: farewell at Abu Dhabi Presidential Airport
1pm: departure by plane to Rome
5pm: arrival at the Rome / Ciampino International Airport

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Company name: Namara
Started: June 2022
Founder: Mohammed Alnamara
Based: Dubai
Sector: Microfinance
Current number of staff: 16
Investment stage: Series A
Investors: Family offices

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Developer: Big Ape Productions
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Console: PlayStation 1 & 5, Sega Saturn
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Key figures in the life of the fort

Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.

Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.

Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.

Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.

Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.

Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.

Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.

Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.

Sources: Jayanti Maitra, www.adach.ae