UAE Friday sermon: Discreet acts of charity will draw people closer to Allah, sermon tells worshippers


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Good deeds when performed discreetly will draw people closer to God, the sermon will tell worshippers on Friday.

In the Quran, it is said that God is the “Knower of the unseen in heaven and earth”.

Allah knows what people do in public and in private, and it is for this reason that Muslims are not discouraged from performing good deeds in secret.

An act of kindness done in private is encouraged because the rewards are multiplied. The Quran says: “If you disclose your charitable expenditures, they are good; but if you conceal them and give them to the poor, it is better for you, and He will remove from you some of your misdeeds [thereby]. And Allah, is [fully] acquainted with what you do.” (Al Baqara: 271).

A good deed should be revealed to others only if disclosing it will encourage others to follow suit.

A noble act performed discreetly is deemed more sincere because its doer does not expect any praise or gratitude in return. For this reason, the Prophets ensured that some of their deeds were done secretly.

There are several deeds that Muslims are told to carry out in secret. One among them is charity. Those who follow this will see themselves getting closer to God, the sermon will say.

Prophet Mohammed said: “Seven people will be shaded by Allah under His shade on the day when there will be no shade except His.”

He said one of them was “a person who donates so secretly that his left hand does not know what his right hand has given”.

Another act that Muslims are encouraged to undertake discreetly is to supplicate to God on behalf of others. In this act, God rewards both people – the one who supplicates and the person on whose behalf supplication is being performed.

Once someone prays for a person in their absence, the prayer is believed to be more sincere and is therefore more likely to be answered.

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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.

“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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