Prisoners expected to be pardoned over Ramadan


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ABU DHABI // The Government is expected to pardon hundreds of prisoners as a goodwill and humanitarian gesture during the holy month and on other upcoming festive occasions. Last year, Sheikh Khalifa bin Zayed, President of the UAE and Ruler of Abu Dhabi, granted an executive pardon to 808 Emirati and expatriate prisoners during Ramadan. He also instructed the settlement of prisoners' debts worth Dh3.43 million (US$930,000).

"It [clemency] has led to a significant decline in the prison population, particularly during Ramadan," said Col Ali Juma al Shamsi, the Ministry of Interior's deputy director general for Reformatory and Punitive Establishments. Clemency was granted after staff at federal prisons drew up a list of eligible inmates, which was then submitted to the attorney general for review, said Col Shamsi. In the case of local jails, the list is sent to the ruler of the emirate.

The pardons are granted for humanitarian reasons, but other factors are also taken into consideration including the nature of the crime, the length of the sentence, how much of a jail term has been served and good behaviour of the prisoner while incarcerated. Faith and nationality are not usually taken into account. Clemencies are also granted on other occasions, including Eid al Fitr, Eid al Adha and the UAE National Day.

In addition to those granted at the federal level, hundreds of prisoners received clemency last year from the rulers of the other emirates. During Ramadan, a number of good Samaritans usually came forward to pay the debts of those who were serving sentences for financial crimes, said Col Shamsi. The Ministry of Interior has a dedicated department to deal with prisoners who served their respective sentences and have been handed deportation orders. "We provide food, health care and transportation for all deportees," he said.

Each year, the UAE deports an average of 30,000 to 40,000 people, including pardoned prisoners. Last year, the Federal Government allocated Dh11m for deportees and spent Dh698,000 on airline tickets for released prisoners who had been ordered out of the country by Abu Dhabi courts. Those non-Muslim prisoners who do not get a lucky break this Ramadan will not be expected to observe fasting from dawn until dusk during the holy month. "They will be served three meals a day," said Col Shamsi.

"We do not discriminate Muslims from prisoners of other religions, and we ensure that their rights are protected while in prison," he added. @Email:rruiz@thenational.ae

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The High Court of England and Wales approves the company’s restructuring plan

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Know before you go
  • Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
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  • By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
  • Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
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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.”