Mourners gather at an Islamic seminary to see last glimpse of prominent Pakistani cleric Maulana Samiul Haq prior to funeral prayer at his hometown Akora Khattak, some 123 kilometers (77 miles) northwest of Islamabad, Pakistan, Saturday, Nov. 3, 2018. Thousands of mourners have attended funeral of the prominent Pakistani cleric Haq, who was killed in a knife attack at his home in the garrison city of Rawalpindi. (AP Photo/Mohammad Sajjad)
Mourners gather at an Islamic seminary to see last glimpse of prominent Pakistani cleric Maulana Samiul Haq prior to funeral prayer at his hometown Akora Khattak, some 123 kilometers (77 miles) northwShow more

Killing of 'Father of the Taliban' remains a mystery in Pakistan



Maulana Samiul Haq, the Pakistani religious scholar known as the "Father of the Taliban", was buried in his home town of Nowshehra in north-west Pakistan on Saturday, a day after he was fatally stabbed at his residence in the northern city of Rawalpindi.

A large number of people including religious and political leaders were present as Haq was laid to rest beside his father, Maulana Abdul Haq, inside his seminary in the small town of Akora Khattak in Khyber Pakhtunkhwa province.

The identity and motive of Haq's attacker are not clear. “The death remains mysterious and there is no claim of responsibility," Pakistan’s Information Minister Fawad Chaudhary said.

Born in December 1937, Haq ran the Darul Uloom Haqqania religious school attended by many Afghan mujahideen who fought the Soviet invasion and later formed the Taliban, including the group's late founder Mullah Omar.

He remained supportive of the group after the 2001 US-led invasion that toppled them from power, telling Reuters in a 2013 interview that peace in Afghanistan would not be possible until foreign troops left. "As long as they are there, Afghans will have to fight for their freedom," he said.
Haq remained an influential figure whose views carried weight among Taliban fighters on both sides of the Afghan-Pakistan border. Just last month he was approached by Kabul government to act as a mediator in setting up peace talks between the Afghan Taliban.

In 2014 he was chosen to be one of the representatives of the Tehreek-i-Taliban Pakistan (TTP) when Islamabad tried to hold peace talks with insurgent group. The attempt ultimately failed and the military launched a sweeping operation against the Pakistani Taliban after they attacked an army-run school in Peshawar in December 2014, killing more than 130 children.
Haq also guided former Pakistani president Pervez Musharraf, the former army chief who held power from 1999 to 2008, on getting the best deal from Washington for co-operating with the US war on terror in Afghanistan.

The cleric opposed US drone strikes in Pakistan's tribal areas and in 2011 he helped form an alliance of more than 40 religious groups known as Defa-e-Pakistan, or Defence of Pakistan, headed by Haq which repeatedly pressured the government to cut off Nato's supply routes to its forces in Afghanistan but never succeeded.

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Haq was also active in Pakistani politics, serving several terms as a senator between 1985 and 1997 and later from 2003 to 2009, and maintained good relations with country's powerful security forces. He was the head of his own faction of the Jamiat Ulema-e-Islam political party. He was also the founding member of the Muttahida Majlis–e–Amal United Council of Action, an alliance of the religious parties founding in 1990s.

Haq resigned his government position in 1991 however after becoming embroiled in a sex scandal with a dancer.

Despite his links with radical insurgents, Haq was a supporter of the polio immunisation drive in Pakistan, one of only three countries where the disease is endemic, and issued an edict in support of the campaign in December 2013, at a time when militants were killing vaccination workers in north-west Pakistan.

His seminary, a sprawling campus covering several acres with more than 2,000 students was founded in 1947 by his father Maulana Abdul Haq, has received funding from the various governments. Haq leaves behind nine children from two marriages. His son Hamidul Haq, will succeed him as the seminary chief.

The years Ramadan fell in May

1987

1954

1921

1888

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.”

What is the FNC?

The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning. 
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval. 
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
 

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Director: Christopher McQuarrie

Starring: Tom Cruise, Hayley Atwell, Simon Pegg

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