Abu Dhabi // When Stuart Hird was made redundant in July, it was only the start of his troubles. The Australian expatriate was also evicted from his home, defaulted on his loan repayments and had his resident's visa cancelled. Then there was the news that his father had died in Australia.
"It was a very difficult time," said Mr Hird, 57. "But there was one thing that kept me going - my faith."
Mr Hird was born a Christian. His parents had him baptised into both the Roman Catholic and the Protestant churches, and his job before moving to Abu Dhabi was in a Catholic school in Western Australia.
When he moved to the Emirates after an attractive job offer with Abu Dhabi Education Council, Mr Hird immediately started asking questions about Islam.
"I have always been inquisitive about religion so when I came to an Islamic state I felt I should find out about Islam. I read the history and parts of the Quran and I found it enlightening.
"I realised I was disenchanted with Christianity, in that I had never got the answers to my questions about life and death from the Bible."
Over the next few months, Mr Hird completed the Quran, a feat he had never managed with the Bible, and found more than just a religious book.
"I saw many similarities between it and the indigenous aboriginal way of life in Australia where they follow 'Dreaming stories' as a guide for life. For me, the Quran, as well as being an important religious text, was a set of morals and guidelines for living a good life."
As Mr Hird became more attracted to Islam he felt more at home in Abu Dhabi. When his employers terminated his contract in July, Mr Hird was determined to stay in the UAE.
"I was told I lost my job because someone in upper management didn't like me but the official line was that I was not doing well enough. At first I was not deterred. I thought I would be able to find another job quite easily."
But within days he was reduced to living in his car, a rented Nissan Pathfinder and, with no income, his debts began to mount. In September, he could no longer pay the car rental. Mr Hird was reduced to sleeping on the streets, often on a bench in Abu Dhabi's Central Bus Station. His financial worries worsened when the rental car company brought a lawsuit against him for missing payments.
Although his family in Australia bailed him out, he had also borrowed money from friends in the capital and was forced to write cheques that would bounce. More court cases were filed that Mr Hird could not respond to.
Finally in October, he was picked up by the police patrolling the bus station and found to have an invalid visa. Mr Hird was jailed on Oct 10.
"At first it was simply a relief to know I was going to get three meals a day and a bed to sleep in," he said. "But obviously it was not very nice. I was extremely downhearted and immediately fell back to my interest in Islam."
While in prison Mr Hird saw something which convinced him to become a Muslim. He described it as the power of prayer.
"Five times a day one of my fellow prisoners would perform the call to prayer. Then all the Muslims would line up behind the prayer leader and perform their salat. It was amazing to watch.
"All these people were in a bad situation being in jail but they gained strength from their prayers. They were always really positive. During my sentence I decided I was going to become Muslim."
On Nov 23, after 40 days, Mr Hird was released. He stayed with a friend temporarily but before long he was back in the bus station with only a small bag of possessions and very little money.
There he met a Somalian man who invited him to join the Eid prayers. At the prayer yard, in front of thousands of worshippers, Sheikh Ahmed Shikhani took Mr Hird through his shahada - a statement in Arabic declaring there is only one God, Allah, and that the Prophet Mohammed was his last messenger. Mr Hird received an enthusiastic response from the audience, who thronged around him afterwards, shaking his hand and embracing him.
He did not tell anyone about his personal situation as he did not want people to think he was becoming a Muslim to get support from the Islamic community.
But he was introduced to Mohammed Nasser, the daawa from the New Muslim Centre, who came to his aid.
"We are doing everything we can to help our new brother," said Mr Nasser.
"I met him four days ago and I have been contacting many people here and in Al Ain. Insha'allah we will find him somewhere soon."
Despite all his hardships Mr Hird remains positive. "I am very grateful to all my brothers who have given me support in my hour of need, but really I should thank God. The words Allah hu Akhbar (God is great) are the most important words in the Quran for me because they are so true.
"I have lost everything but found everything at the same time. I don't have a job, a house or any money but I do have faith in God. Since becoming a Muslim I am the happiest I have been in years."
@Email:aseaman@thenational.ae
The specs
Engine: Dual 180kW and 300kW front and rear motors
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Saturday's results
Brighton 1-1 Leicester City
Everton 1-0 Cardiff City
Manchester United 0-0 Crystal Palace
Watford 0-3 Liverpool
West Ham United 0-4 Manchester City
A little about CVRL
Founded in 1985 by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, the Central Veterinary Research Laboratory (CVRL) is a government diagnostic centre that provides testing and research facilities to the UAE and neighbouring countries.
One of its main goals is to provide permanent treatment solutions for veterinary related diseases.
The taxidermy centre was established 12 years ago and is headed by Dr Ulrich Wernery.
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In Search of Mary Shelley: The Girl Who Wrote Frankenstein
By Fiona Sampson
Profile
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Race card
5pm: Maiden (PA) Dh80,000 (Turf) 1,600m
5.30pm: Handicap (PA) Dh80,000 (T) 1,600m
6pm: Arabian Triple Crown Round-1 Listed (PA) Dh230,000 (T) 1,600m
6.30pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 1,400m
7pm: Maiden (PA) Dh80,000 (T) 1,200m
7.30pm: Handicap (TB) Dh100,000 (T) 2,400m
Ronaldo's record at Man Utd
Seasons 2003/04 - 2008/09
Appearances 230
Goals 115
Company name: Play:Date
Launched: March 2017 on UAE Mother’s Day
Founder: Shamim Kassibawi
Based: Dubai with operations in the UAE and US
Sector: Tech
Size: 20 employees
Stage of funding: Seed
Investors: Three founders (two silent co-founders) and one venture capital fund
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COMPANY PROFILE
Name: Kumulus Water
Started: 2021
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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.”