Women muftis by end of 2010



DUBAI // The UAE will appoint what are likely to be the world's first state-sanctioned female muftis next year, after the Grand Mufti announced details yesterday of plans to recruit and train them. Six Emirati women are being considered for the training programme, said Dr Ahmed al Haddad, who is also the head of the Islamic Affairs and Charitable Activities Department. Once accepted they will begin the course, which will last several months, early next year.

The move follows a fatwa issued by Dr al Haddad in February that sanctioned women's role as muftis. In May, he called on qualified Emirati women to apply for the programme, which includes instruction in Sharia law and legal thinking. "We continue to accept new applicants until we begin the training," said Dr al Haddad. "It is already part of the 2010 budget." The status of female muftis has caused controversy within the religious establishment elsewhere in the Muslim world, with Egypt's Al Azhar University, a powerful centre of Sunni scholarship, rejecting the possibility of women becoming grand muftis.

However, Dr al Haddad said that debate did not affect whether women should serve in other roles. "The controversy over female muftis is not necessarily over this point, but about whether or not a woman should be appointed as the grand mufti of a state," he said. "And that is not what we're trying to do at this point." The move is part of a broader push to recruit and train Emiratis to the department, especially in the role of advising and issuing decrees on religious matters.

They will be instructed according to the Maliki school of jurisprudence, one of four in the Sunni tradition and the one followed in the UAE. Instructors are typically from academic and religious institutions, including practising muftis. Although women currently serve as religious advisers at the Abu Dhabi fatwa centre, their role is limited to advising women on "women's issues". The Dubai move would mark the first time women have acted as muftis on a par with their male counterparts.

In February 2008, the Egyptian family court appointed Amal Soliman as the first female Islamic notary with the ability to perform marriages and divorces. Her duties were not equal to those of a mufti. Dr al Haddad, who has five daughters, one of whom is a student of Sharia, said his fatwa earlier this year was based on Islamic tradition, which he said was "rich in examples of highly learned women acting as muftis and issuing decrees on all matters".

"A woman who is learned and trained in issuing fatwas is not limited in her role to issuing fatwas that relate to women only, but rather she is qualified to issue on matters of worship, jurisprudence, morality and behaviour," he said. He referred to a Quranic verse to support his decree that Islamic tradition has always sanctioned women to act as muftis on all matters that concern society. A fatwa, or religious decree, is in effect a legal opinion derived from the Quran, hadith or precedents in the Islamic tradition.

"Evidence points to the fact that women too can order acts of virtue and ban acts of vice just like a man can," he said, referring to the basic tenement of a mufti's role. "And of course she can do that only with acquired scholarship and training, which is what female contemporaries of the Prophet have done as well as the women who came after them." @Email:relass@thenational.ae

Asia Cup Qualifier

Venue: Kuala Lumpur

Result: Winners play at Asia Cup in Dubai and Abu Dhabi in September

Fixtures:

Wed Aug 29: Malaysia v Hong Kong, Nepal v Oman, UAE v Singapore

Thu Aug 30: UAE v Nepal, Hong Kong v Singapore, Malaysia v Oman

Sat Sep 1: UAE v Hong Kong, Oman v Singapore, Malaysia v Nepal

Sun Sep 2: Hong Kong v Oman, Malaysia v UAE, Nepal v Singapore

Tue Sep 4: Malaysia v Singapore, UAE v Oman, Nepal v Hong Kong

Thu Sep 6: Final

 

Asia Cup

Venue: Dubai and Abu Dhabi

Schedule: Sep 15-28

Teams: Afghanistan, Bangladesh, India, Pakistan, Sri Lanka, plus the winner of the Qualifier

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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Company%20Profile
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Dubai Bling season three

Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed 

Rating: 1/5

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
Game Changer

Director: Shankar 

Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram

Rating: 2/5

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.