DUBAI // Bashar Bahra is one of more than 100,000 Syrians, according to government figures, who have made a home in the UAE since the start of the civil war in Syria.
With a bachelor’s degree in IT engineering and a master’s in business administration, it did not take the 29-year-old long to find work as a customer relationship management specialist at Dubizzle after he moved from Damascus to Dubai in 2012 but he was aware that the situation was much worse for millions of other Syrians.
So, in the evenings and on weekends, he devotes his time to the two non-profit initiatives he has helped to launch in the past two years: iGive, which provides Syrians and others in Damascus, Dubai and Beirut with free, face-to-face professional training; and MyDoctor, a free internet service through which Arabic speakers can message doctors and receive private, online consultations.
“We wanted to support the community to support each other,” Mr Bahra said of iGive. “That’s where the idea was born. Education is a way to do something positive under very, very bad circumstances.”
Demand is high: an upcoming course Mr Bahra is teaching had 56 people apply for 12 spaces, and about 400 students have already benefited in Dubai alone from coaching in skills such as business, English, CV writing and project management.
One of them is Rahaf Jalanbo, 27, who moved to the UAE from Damascus in 2013. She is now an administrative assistant at Dubai toy company NewBoy. She advises Syrians in the UAE “to attend every course that they can, to get better chances when applying for jobs”.
While Mr Bahra was instrumental in getting iGive off the ground, it was Nour Alsharif, 29, a Syrian doctor working at the University of California’s Irvine Medical Centre, who came up with the idea for MyDoctor.
“I wanted to continue my dream in medicine,” he said, “but I wanted to feel I was doing something for my family and my friends who stayed in Syria.”
MyDoctor launched in August last year with the help of several other Syrian doctors, as well as Mr Bahra, who worked on the project’s organisational structure and now leads an online support group for others like him, who suffer from multiple sclerosis. Similar groups relating to cancer, stroke and diabetes are in the works.
Dr Alsharif has even more ambitious plans in mind. He is trying to persuade physicians in Syria and other Arab countries to offer discounted examinations and treatment to patients referred to them via MyDoctor, and he would like to form partnerships with hospitals and universities. MyDoctor is unfunded, and all the physicians and administrators involved offer their services free, but “at some point”, he said, “you need money, you need supporters”.
The rules that all trainees must agree to sign up will remain the same: “No politics, no religion.”
For more information, visit igive-syria.org and www.facebook.com/mydoctorsyria.
newsdesk@thenational.ae
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Boulder shooting victims
• Denny Strong, 20
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• Teri Leiker, 51
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Results
Ashraf Ghani 50.64 per cent
Abdullah Abdullah 39.52 per cent
Gulbuddin Hekmatyar 3.85 per cent
Rahmatullah Nabil 1.8 per cent
The specS: 2018 Toyota Camry
Price: base / as tested: Dh91,000 / Dh114,000
Engine: 3.5-litre V6
Gearbox: Eight-speed automatic
Power: 298hp @ 6,600rpm
Torque: 356Nm @ 4,700rpm
Fuel economy, combined: 7.0L / 100km
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.”
Killing of Qassem Suleimani
Winners
Best Men's Player of the Year: Kylian Mbappe (PSG)
Maradona Award for Best Goal Scorer of the Year: Robert Lewandowski (Bayern Munich)
TikTok Fans’ Player of the Year: Robert Lewandowski
Top Goal Scorer of All Time: Cristiano Ronaldo (Manchester United)
Best Women's Player of the Year: Alexia Putellas (Barcelona)
Best Men's Club of the Year: Chelsea
Best Women's Club of the Year: Barcelona
Best Defender of the Year: Leonardo Bonucci (Juventus/Italy)
Best Goalkeeper of the Year: Gianluigi Donnarumma (PSG/Italy)
Best Coach of the Year: Roberto Mancini (Italy)
Best National Team of the Year: Italy
Best Agent of the Year: Federico Pastorello
Best Sporting Director of the Year: Txiki Begiristain (Manchester City)
Player Career Award: Ronaldinho
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