• Sharjah Ruler Sheikh Dr Sultan bin Muhammad Al Qasimi inaugurates the exhibition A Window to the Soul ... Gibran Khalil Gibran, at the emirate's House of Wisdom in 2021. Photo: Wam
    Sharjah Ruler Sheikh Dr Sultan bin Muhammad Al Qasimi inaugurates the exhibition A Window to the Soul ... Gibran Khalil Gibran, at the emirate's House of Wisdom in 2021. Photo: Wam
  • The exhibition featured several works by the Lebanese artist and writer, who found fame in the United States
    The exhibition featured several works by the Lebanese artist and writer, who found fame in the United States
  • After closing the four-month exhibition, Sharjah recreated it in a virtual space. Photo: House of Wisdom
    After closing the four-month exhibition, Sharjah recreated it in a virtual space. Photo: House of Wisdom
  • Gibran’s ‘Self portrait’. Photo: Gibran National Committee
    Gibran’s ‘Self portrait’. Photo: Gibran National Committee
  • The Gibran Museum in Bsharri, Lebanon, dates from the seventh century, when it was a grotto for Carmelite monks. Photo: Gibran National Committee
    The Gibran Museum in Bsharri, Lebanon, dates from the seventh century, when it was a grotto for Carmelite monks. Photo: Gibran National Committee
  • The artist's 'Portrait of a Young Woman with Head Inclined'. Photo: Gibran National Committee
    The artist's 'Portrait of a Young Woman with Head Inclined'. Photo: Gibran National Committee
  • Gibran chose the monastery as his final resting place. It was later transformed into a museum. Photo: Gibran National Committee
    Gibran chose the monastery as his final resting place. It was later transformed into a museum. Photo: Gibran National Committee
  • Forced to close a few years ago by crises in Lebanon, in November the museum was given a new lease of life thanks to a grant from Sharjah. Photo: Gibran National Committee
    Forced to close a few years ago by crises in Lebanon, in November the museum was given a new lease of life thanks to a grant from Sharjah. Photo: Gibran National Committee
  • A sample from a collection of 33 letters Gibran wrote to his friend and patron Madame Marie Azeez El-Khoury, which sold for $100,000. Photo: Sotheby's
    A sample from a collection of 33 letters Gibran wrote to his friend and patron Madame Marie Azeez El-Khoury, which sold for $100,000. Photo: Sotheby's
  • An image from the 2014 film adaptation of Gibran’s 'The Prophet', directed by Roger Allen and featuring Salma Hayek. Photo: Gulf Film
    An image from the 2014 film adaptation of Gibran’s 'The Prophet', directed by Roger Allen and featuring Salma Hayek. Photo: Gulf Film

How Sharjah is helping to keep Kahlil Gibran's legacy and hometown alive


Hareth Al Bustani
  • English
  • Arabic

Perched atop a rocky outcrop in the sleepy, cedar-drenched Lebanese mountain town of Bsharri is a cultural marvel. Once a grotto for seventh-century monks, the building today is the Gibran Museum — devoted to preserving the works and values of the creative giant's life and legacy.

Born in Bsharri in 1883, Kahlil Gibran later moved to the US, where he exhibited his drawings in 1904, before publishing his first book in Arabic the following year. Best known for the 1923 title, The Prophet, which went on to sell 100 million copies in 40 languages, Gibran was among the most beloved writers of the 21st century.

For decades, the Bsharri museum has been the beating heart of Gibran's legacy; not only preserving his ideas, belongings and works, but his values of compassion, humanitarianism and transcendence. However, in the middle of several nation-wide crises, like Lebanon itself, it has fallen on tough times.

Last November, everything changed, as Sharjah Ruler Sheikh Dr Sultan bin Muhammad Al Qasimi announced a five-year grant to the museum. Marwa Al Aqroubi, executive director of Sharjah’s House of Wisdom, tells The National the grant is intended to restore the museum, as well as its collections.

The Gibran Museum in Bsharri, Lebanon, dates from the seventh century. Photo: Gibran National Committee
The Gibran Museum in Bsharri, Lebanon, dates from the seventh century. Photo: Gibran National Committee

“The grant, which is donated over five years, comes as part of a series of initiatives by the Ruler of Sharjah, to appreciate cultural figures in the region and worldwide, and to sponsor institutions that uphold noble values,” Al Aqroubi says.

The Gibran Museum Committee has said it will use the grant to print a selection of Gibran's books, including The Prophet, The Madman, Broken Wings, The Twenty Drawings, Turn the Page Young Man and The Final Dwelling, in addition to producing a documentary.

“The grant will also help the restoration and preservation of the original manuscripts and documents of Gibran," Al Aqroubi adds. "These documents are a crucial part of the writer's legacy and will be carefully preserved for future generations to appreciate and learn from."

Funds will also be spent developing educational programmes and resources for students and researchers. “This will include workshops, lectures and other learning opportunities that will provide in-depth understanding of Gibran's work and its impact on literature and culture.

Marwa Al Aqroubi, executive director of Sharjah's House of Wisdom. Photo: The House of Wisdom
Marwa Al Aqroubi, executive director of Sharjah's House of Wisdom. Photo: The House of Wisdom

“The museum's exhibition space will be expanded to include more of Gibran's artwork and artefacts, for visitors to get closer to the writer's life and work in a more immersive and interactive way. A digital platform to make Gibran's work more accessible to a global audience will also be established, which will include digitised copies of his manuscripts and documents, as well as multimedia resources and interactive exhibits that will allow people from all over the world to learn about and appreciate Gibran's works.”

The Sharjah House of Wisdom launched the inaugural virtual Gibran exhibition on the 140th anniversary of Gibran's birth this year, following a physical display of 34 of his works. Al Aqroubi says Gibran's legacy is an important part of the Arab cultural landscape.

Having spent much of his life as a leading member of the Arab-American community in the US, Gibran promoted an “understanding and appreciation of Arab culture among non-Arab audiences”.

“Gibran's writing is deeply rooted in Arab culture and its rich tradition of storytelling, poetry and philosophy," Al Aqroubi says. "His works often explore the themes of love, spirituality and human relationships, and are infused with a sense of mysticism and transcendence that is a primary characteristic of the Arab world.”

She also notes his talent as a visual artist whose works — admired for their beauty and emotional depth — have been exhibited at galleries and museums around the world.

The Sad Mona Lisa by Kahlil Gibran will be on display as part of of Gibran: A Humane Perspective, at Sharjah Art Museum. Photo: Gibran National Committee
The Sad Mona Lisa by Kahlil Gibran will be on display as part of of Gibran: A Humane Perspective, at Sharjah Art Museum. Photo: Gibran National Committee

“Gibran's contributions to the Arab culture have been immeasurable, and his work continues to inspire and influence people of all ages and backgrounds. The Sharjah grant to the Gibran museum is a testament to the enduring significance of his legacy and the impact he has had on the Arab world and beyond.”

This grant, she says, represents Sharjah’s belief in the importance of supporting, preserving and promoting the cultural heritage of the Arab world. The emirate was previously named a World Book Capital by Unesco in 2019 for its efforts in fostering a reading culture and promoting cultural literacy.

“We look forward to maintaining our work with them to bring Gibran's message of peace, love and understanding to a wider audience,” she says. She says a mutual devotion to “promoting cultural understanding and appreciation through the arts and humanities” makes Sharjah and the Gibran Museum natural partners.

Joseph Fenianos, president of the Gibran National Committee, which manages the museum, tells The National the support of local and international institutions is “a necessity”.

Joseph Fenianos, president of the Gibran National Committee, which manages the museum in accordance with the writer's will. Photo: Gibran National Committee
Joseph Fenianos, president of the Gibran National Committee, which manages the museum in accordance with the writer's will. Photo: Gibran National Committee

“Unfortunately, the Gibran Museum had to close its doors when general strikes paralysed Lebanon a few years ago, due to the economic crisis, which led protesters to block main roads,” he says. The subsequent Covid-19 pandemic lockdown measures only added to this paralysis, he adds.

“Consequently, the museum’s income became very poor, rendering us unable to pay our employees’ salaries completely, or our bills.” The museum has no longer been able to buy enough diesel to feed the generators it uses to supplement Lebanon’s sporadic national grid power supply — which Fenianos says works only a few hours a week.

Aside from preserving Gibran's writings, paintings and scriptures, the committee also aims to spread his thoughts and ideas through book sales and art exhibitions. In accordance with Gibran's will, any profits generated are subsequently redistributed to the neediest in his hometown of Bsharri, through scholarships and financial aid, as well as supporting the town's urban and economic development.

The museum building itself has a remarkable history — it originally served as a grotto for Carmelite monks seeking shelter in the seventh century, known as the Mar Sarkis, or Saint Sergious hermitage. In 1926, Gibran, who was living in New York at the time, had his sister buy the space to serve as his final resting place.

The Gibran Museum in Bsharri, Lebanon, dates from the seventh century and preserves the works and legacy of artist and writer Kahlil Gibran. Photo: Gibran National Committee
The Gibran Museum in Bsharri, Lebanon, dates from the seventh century and preserves the works and legacy of artist and writer Kahlil Gibran. Photo: Gibran National Committee

Despite the artist's success in the US, Fenianos says Gibran's hometown of Bsharri — renowned for its “rich heritage” and “breathtaking nature” — was “printed in his soul”, with a “yearning for return” that never left him.

“It is where Gibran was born and his conscience and imagination were born," he adds. "It is where he spent his childhood; where he used to play and run in the fields between the cedars, gathering flowers or sitting on the rocks that overlook the holy valley, contemplating its majestic depth, listening to the pure streams of water, or the music of the flute in the vineyards, or in the monastery of Mar Sarkis; running around his basin; strolling through his jungle.”

After Gibran's death in 1931, his remains were returned to his beloved Bsharri. The tomb is marked by one of Gibran's quotes, which has been carved into a piece of cedar wood: "I am alive just like you, and now I am standing next to you; just close your eyes and you will see me."

The writer’s remains were followed to Bsharri by the contents of his New York studio the following year — including his furniture, personal belongings, private library, manuscripts and 440 original paintings. These today form the basis of the Gibran Museum collection.

The Gibran Museum in Bsharri, Lebanon, was originally a grotto for Carmelite monks. Photo: Gibran National Committee
The Gibran Museum in Bsharri, Lebanon, was originally a grotto for Carmelite monks. Photo: Gibran National Committee

In 1975, the Gibran National Committee restored the monastery and built a new wing on the east side, transforming it into a museum. In 2003 the site was expanded, with additional parking and an access road developed to help mark it out as a Lebanese cultural landmark.

Fenianos describes the donation from Sheikh Dr Sultan as generous, and says it will help the museum to support a number of crucial development goals. After all, he says, the preservation of Gibran's work is a duty. “The works of Gibran call for wisdom, awareness and balance that are needed in all times. If we live in a world where justice, peace and unity are missing, we are called to read Gibran.

“If our world is full of anger, disintegration, corruption, disorientation and anarchy, [we must] respond to Gibran’s pleas … to reject the barriers that separate nations and individuals, and to reconcile reason and passion, balancing physical and spiritual guidance of living.”

He says the writer's work is particularly poignant for contemporary Lebanon, and the country's next generation. "He used to express his affection for the people of Lebanon. He loved their poetry, art, music and love of life; he loved their generosity and welcoming spirit," Fenianos says. "Yet he contrasted this with the country's petty, bickering politicians who led because of an accident of birth."

The Kahlil Gibran exhibition at Sharjah's House of Wisdom, which has since been recreated in a virtual space. Photo: House of Wisdom
The Kahlil Gibran exhibition at Sharjah's House of Wisdom, which has since been recreated in a virtual space. Photo: House of Wisdom

"Gibran wanted a modern and a free Lebanon. Wasn't it he who said, 'You have your Lebanon and its dilemma. I have my Lebanon and its beauty?

"Gibran felt the need to devote his life to his pen for the liberation of man and the Earth and the establishment of a more just order and of more worthy human value." This, he says, is why Gibran to this day is still the subject of so many conferences, research projects, books and exhibitions — and why so many institutions are named after him.

Meanwhile, the House of Wisdom's Al Aqroubi says Sharjah will continue working closely with the Gibran National Committee in the years to come, to identify other areas where the emirate’s expertise can be of value in further enhancing the museum's offerings and programming.

“This could include supporting the development of educational initiatives, curating exhibitions and collaborating on research projects," she says. "Our goal is to help the Gibran Museum become a leading cultural destination in the region, offering visitors unique and enriching experiences that promote an understanding and appreciation of different cultures.”

Scroll through more images of Sheikh Dr Sultan inaugurating the 2021 Kahlil Gibran exhibition below

  • Sheikh Dr Sultan bin Muhammad Al Qasimi, Ruler of Sharjah, visits the House of Wisdom to inaugurate the exhibition A View of the Soul: Gibran Khalil Gibran. All photos: Wam
    Sheikh Dr Sultan bin Muhammad Al Qasimi, Ruler of Sharjah, visits the House of Wisdom to inaugurate the exhibition A View of the Soul: Gibran Khalil Gibran. All photos: Wam
  • The exhibition celebrates the life and works of the late Lebanese writer and artist Gibran Khalil Gibran.
    The exhibition celebrates the life and works of the late Lebanese writer and artist Gibran Khalil Gibran.
  • Sheikh Dr Sultan is given a tour of the exhibition during his visit.
    Sheikh Dr Sultan is given a tour of the exhibition during his visit.
  • The exhibition has been structured under seven categories: A Window; Connections: Roots and Branches; Formation; Study: Faces; Medium: Red Chalk; Method: Perspective; and The Soul.
    The exhibition has been structured under seven categories: A Window; Connections: Roots and Branches; Formation; Study: Faces; Medium: Red Chalk; Method: Perspective; and The Soul.
  • Sheikh Dr Sultan is shown some of Gibran's personal belongings during the tour.
    Sheikh Dr Sultan is shown some of Gibran's personal belongings during the tour.
  • The exhibition will run until January 6 next year.
    The exhibition will run until January 6 next year.
  • Sheikh Dr Sultan has received a book of unpublished manuscripts by Gibran, as well as a book of 20 paintings.
    Sheikh Dr Sultan has received a book of unpublished manuscripts by Gibran, as well as a book of 20 paintings.
  • The exhibition has been organised by the House of Wisdom and Lebanon's Gibran National Committee and Gibran Museum.
    The exhibition has been organised by the House of Wisdom and Lebanon's Gibran National Committee and Gibran Museum.
  • It features some works by Gibran that have never been seen before.
    It features some works by Gibran that have never been seen before.
PROFILE OF INVYGO

Started: 2018

Founders: Eslam Hussein and Pulkit Ganjoo

Based: Dubai

Sector: Transport

Size: 9 employees

Investment: $1,275,000

Investors: Class 5 Global, Equitrust, Gulf Islamic Investments, Kairos K50 and William Zeqiri

Prophets of Rage

(Fantasy Records)

Company profile

Name: Tratok Portal

Founded: 2017

Based: UAE

Sector: Travel & tourism

Size: 36 employees

Funding: Privately funded

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Interscope

In-demand jobs and monthly salaries
  • Technology expert in robotics and automation: Dh20,000 to Dh40,000 
  • Energy engineer: Dh25,000 to Dh30,000 
  • Production engineer: Dh30,000 to Dh40,000 
  • Data-driven supply chain management professional: Dh30,000 to Dh50,000 
  • HR leader: Dh40,000 to Dh60,000 
  • Engineering leader: Dh30,000 to Dh55,000 
  • Project manager: Dh55,000 to Dh65,000 
  • Senior reservoir engineer: Dh40,000 to Dh55,000 
  • Senior drilling engineer: Dh38,000 to Dh46,000 
  • Senior process engineer: Dh28,000 to Dh38,000 
  • Senior maintenance engineer: Dh22,000 to Dh34,000 
  • Field engineer: Dh6,500 to Dh7,500
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  • Field operator: Dh5,000 to Dh7,000
Milestones on the road to union

1970

October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar. 

December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.

1971

March 1:  Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.

July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.

July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.

August 6:  The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.

August 15: Bahrain becomes independent.

September 3: Qatar becomes independent.

November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.

November 29:  At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.

November 30: Despite  a power sharing agreement, Tehran takes full control of Abu Musa. 

November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties

December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.

December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.

December 9: UAE joins the United Nations.

Fight Night

FIGHT NIGHT

Four title fights:

Amir Khan v Billy Dib - WBC International title
Hughie Fury v Samuel Peter - Heavyweight co-main event  
Dave Penalosa v Lerato Dlamini - WBC Silver title
Prince Patel v Michell Banquiz - IBO World title

Six undercard bouts:

Michael Hennessy Jr v Abdul Julaidan Fatah
Amandeep Singh v Shakhobidin Zoirov
Zuhayr Al Qahtani v Farhad Hazratzada
Lolito Sonsona v Isack Junior
Rodrigo Caraballo v Sajid Abid
Ali Kiydin v Hemi Ahio

A new relationship with the old country

Treaty of Friendship between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates

The United kingdom of Great Britain and Northern Ireland and the United Arab Emirates; Considering that the United Arab Emirates has assumed full responsibility as a sovereign and independent State; Determined that the long-standing and traditional relations of close friendship and cooperation between their peoples shall continue; Desiring to give expression to this intention in the form of a Treaty Friendship; Have agreed as follows:

ARTICLE 1 The relations between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates shall be governed by a spirit of close friendship. In recognition of this, the Contracting Parties, conscious of their common interest in the peace and stability of the region, shall: (a) consult together on matters of mutual concern in time of need; (b) settle all their disputes by peaceful means in conformity with the provisions of the Charter of the United Nations.

ARTICLE 2 The Contracting Parties shall encourage education, scientific and cultural cooperation between the two States in accordance with arrangements to be agreed. Such arrangements shall cover among other things: (a) the promotion of mutual understanding of their respective cultures, civilisations and languages, the promotion of contacts among professional bodies, universities and cultural institutions; (c) the encouragement of technical, scientific and cultural exchanges.

ARTICLE 3 The Contracting Parties shall maintain the close relationship already existing between them in the field of trade and commerce. Representatives of the Contracting Parties shall meet from time to time to consider means by which such relations can be further developed and strengthened, including the possibility of concluding treaties or agreements on matters of mutual concern.

ARTICLE 4 This Treaty shall enter into force on today’s date and shall remain in force for a period of ten years. Unless twelve months before the expiry of the said period of ten years either Contracting Party shall have given notice to the other of its intention to terminate the Treaty, this Treaty shall remain in force thereafter until the expiry of twelve months from the date on which notice of such intention is given.

IN WITNESS WHEREOF the undersigned have signed this Treaty.

DONE in duplicate at Dubai the second day of December 1971AD, corresponding to the fifteenth day of Shawwal 1391H, in the English and Arabic languages, both texts being equally authoritative.

Signed

Geoffrey Arthur  Sheikh Zayed

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UAE currency: the story behind the money in your pockets
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Serbia 1
Kolarov (56')

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UAE currency: the story behind the money in your pockets
MATCH INFO

Jersey 147 (20 overs) 

UAE 112 (19.2 overs)

Jersey win by 35 runs

Karwaan

Producer: Ronnie Screwvala

Director: Akarsh Khurana

Starring: Irrfan Khan, Dulquer Salmaan, Mithila Palkar

Rating: 4/5

Company%20Profile
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Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

RESULTS
%3Cp%3E3.30pm%3A%20Al%20Maktoum%20Challenge%20Round%203%20%E2%80%93%20Group%201%20(PA)%20%2475%2C000%20(Dirt)%202%2C000m%3Cbr%3EWinner%3A%20Jugurtha%20De%20Monlau%2C%20Pat%20Dobbs%20(jockey)%2C%20Jean-Claude%20Pecout%20(trainer)%3C%2Fp%3E%0A%3Cp%3E4.05pm%3A%20Dubai%20City%20Of%20Gold%20%E2%80%93%20Group%202%20(TB)%20%24250%2C000%20(Turf)%202%2C410m%3Cbr%3EWinner%3A%20Global%20Storm%2C%20William%20Buick%2C%20Charlie%20Appleby%3C%2Fp%3E%0A%3Cp%3E4.40pm%3A%20Burj%20Nahaar%20%E2%80%93%20Group%203%20(TB)%20%24250%2C000%20(D)%201%2C600m%3Cbr%3EWinner%3A%20Discovery%20Island%2C%20James%20Doyle%2C%20Bhupat%20Seemar%3C%2Fp%3E%0A%3Cp%3E5.15pm%3A%20Nad%20Al%20Sheba%20Turf%20Sprint%20%E2%80%93%20Group%203%20(TB)%20%24250%2C000%20(T)%201%2C200m%3Cbr%3EWinner%3A%20Al%20Dasim%2C%20Mickael%20Barzalona%2C%20George%20Boughey%3C%2Fp%3E%0A%3Cp%3E5.50pm%3A%20Al%20Bastakiya%20%E2%80%93%20Listed%20(TB)%20%24170%2C000%20(D)%201%2C900m%3Cbr%3EWinner%3A%20Go%20Soldier%20Go%2C%20Adrie%20de%20Vries%2C%20Fawzi%20Nass%3C%2Fp%3E%0A%3Cp%3E6.25pm%3A%20Al%20Maktoum%20Challenge%20Round%203%20%E2%80%93%20Group%201%20(TB)%20%24450%2C000%20(D)%202%2C000m%3Cbr%3EWinner%3A%20Salute%20The%20Soldier%2C%20Adrie%20de%20Vries%2C%20Fawzi%20Nass%3C%2Fp%3E%0A%3Cp%3E7.10pm%3A%20Ras%20Al%20Khor%20%E2%80%93%20Conditions%20(TB)%20%24300%2C000%20(T)%201%2C400m%3Cbr%3EWinner%3A%20Al%20Suhail%2C%20William%20Buick%2C%20Charlie%20Appleby%3C%2Fp%3E%0A%3Cp%3E7.45pm%3A%20Jebel%20Hatta%20%E2%80%93%20Group%201%20(TB)%20%24350%2C000%20(T)%201%2C800m%3Cbr%3EWinner%3A%20Alfareeq%2C%20Dane%20O%E2%80%99Neill%2C%20Charlie%20Appleby%3C%2Fp%3E%0A%3Cp%3E8.20pm%3A%20Mahab%20Al%20Shimaal%20%E2%80%93%20Group%203%20(TB)%20%24250%2C000%20(D)%201%2C200m%3Cbr%3EWinner%3A%20Sound%20Money%2C%20Mickael%20Barzalona%2C%20Bhupat%20Seemar%3C%2Fp%3E%0A

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.”

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills

The Travel Diaries of Albert Einstein The Far East, Palestine, and Spain, 1922 – 1923
Editor Ze’ev Rosenkranz
​​​​​​​Princeton

The Voice of Hind Rajab

Starring: Saja Kilani, Clara Khoury, Motaz Malhees

Director: Kaouther Ben Hania

Rating: 4/5

1971: The Year The Music Changed Everything

Director: Asif Kapadia

4/5

The biog

Name: Mohammed Imtiaz

From: Gujranwala, Pakistan

Arrived in the UAE: 1976

Favourite clothes to make: Suit

Cost of a hand-made suit: From Dh550

 

WITHIN%20SAND
%3Cp%3EDirector%3A%20Moe%20Alatawi%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Ra%E2%80%99ed%20Alshammari%2C%20Adwa%20Fahd%2C%20Muhand%20Alsaleh%3C%2Fp%3E%0A%3Cp%3ERating%3A%203%2F5%3C%2Fp%3E%0A
Silent Hill f

Publisher: Konami

Platforms: PlayStation 5, Xbox Series X/S, PC

Rating: 4.5/5

A Long Way Home by Peter Carey
Faber & Faber

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Updated: February 10, 2023, 6:02 PM