Rich-Joseph Facun / The National
Rich-Joseph Facun / The National
Rich-Joseph Facun / The National
Rich-Joseph Facun / The National

Why the mosque is only for Muslims


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  • Arabic

I had an amazing moment the other night with The National readers and staff. When I told the group that my team and I were heading over to the mosque, a reader approached me. "Ali, I am not a Muslim," he said. "But I find your passion for Islam fascinating. I would like to thank Allah, and, out of curiosity, see what goes on in a mosque." This is the most beautiful thing a Muslim can hear, but it is also the most difficult. Most expats know non-believers are not allowed in a mosque, but we can offend people if we don't do a good job of explaining why. It is not because we want to exclude people: the more potential Muslims the merrier.

I have seen Christians praying. The simplicity - kneel, hands together, close your eyes - is beautiful. Islamic praying is more ritualistic. We must do a certain form of ablutions, then there are certain Quranic verses we must recite and certain actions we must do. To teach a non-Muslim these things would be like showing a layperson how to do surgery; it distracts from the task at hand. This is why I had to tell this dear man that he couldn't accompany us. If it's any consolation, I'm pretty sure most non-Muslims would find the experience a lot less precious than they think.

In America, spelling bees are a big thing. There was even a movie, Spellbound, made about these brilliant kids. Well, here in the UAE, we have our own version of the spelling bee competition, but with an ­Islamic twist. For the past 12 years, Dubai has held the International Holy Quran Award, in which participants recite the holy book. The great thing about this competition is that anyone can participate, even non-Muslims from places such as Switzerland. Of course, being Muslim helps: you've been reading and reciting the Quran since you were old enough to speak. One competitor from Saudi Arabia said he had studied five parts of the holy book every day since he was 10. His goal is to become a PhD in Sharia, and something tells me he will make it. The importance of recitation in Islam harks back to the very first word in the Quran, which was ­revealed during Ramadan. The angel Jibrael (Gabriel) came down to the Prophet Mohammed and revealed the Quran to him, commanding him: "Iqra!" The word "iqra" is a command. It means "Read!" or "Recite!"

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.”

TOUR RESULTS AND FIXTURES

June 3: NZ Provincial Barbarians 7 Lions 13
June 7: Blues 22 Lions 16
June 10: Crusaders 3 Lions 12
June 13: Highlanders 23 Lions 22
June 17: Maori All Blacks 10 Lions 32
June 20: Chiefs 6 Lions 34
June 24: New Zealand 30 Lions 15 (First Test)
June 27: Hurricanes 31 Lions 31
July 1: New Zealand 21 Lions 24 (Second Test)
July 8: New Zealand v Lions (Third Test) - kick-off 11.30am (UAE)

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

GOLF’S RAHMBO

- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)

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The drill

Recharge as needed, says Mat Dryden: “We try to make it a rule that every two to three months, even if it’s for four days, we get away, get some time together, recharge, refresh.” The couple take an hour a day to check into their businesses and that’s it.

Stick to the schedule, says Mike Addo: “We have an entire wall known as ‘The Lab,’ covered with colour-coded Post-it notes dedicated to our joint weekly planner, content board, marketing strategy, trends, ideas and upcoming meetings.”

Be a team, suggests Addo: “When training together, you have to trust in each other’s abilities. Otherwise working out together very quickly becomes one person training the other.”

Pull your weight, says Thuymi Do: “To do what we do, there definitely can be no lazy member of the team.” 

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