Rohingya ‘distressed’ and ‘pressured’ into island move, UN says


James Reinl
  • English
  • Arabic

The United Nations has warned that Rohingya refugees are “distressed” by their relocation from camps on the Bangladesh mainland to a flood-prone island in the Bay of Bengal and may have been “pressured” to move there by the government.

UN spokesman Stephane Dujarric on Friday urged the Bangladeshi government not to move refugees against their will and warned that the destination island, Bhashan Char, may not be a safe home for the minority group.

Authorities in Bangladesh on Friday began sending the first batch of 1,642 refugees aboard seven Bangladeshi naval vessels from the Port of Chittagong to the isolated island, which is often battered by monsoon winds and rain.

“We have heard some reports from the camps that some refugees may be feeling pressured into relocating to the island of Bhashan Char, who may have changed their initial views about relocation and no longer wish to move,” Mr Dujarric told reporters in New York.

“If so, they should be allowed to remain in the camps in Cox’s Bazar. We have also seen troubling images of some distressed refugees shared during [the] relocation process. We have shared those concerns with the authorities in Bangladesh.”

He added that the UN was not involved in the relocation and said it would not play a role until the newly built communities on the flood-prone island had been checked for dangers.

“A comprehensive technical and protection assessment to evaluate the safety and sustainability of life on Bhashan Char should take place before any relocation,” said Mr Dujarric.

Almost a million Rohingya — most of whom fled a military offensive and human rights abuses in neighbouring Myanmar in 2017 — live in a vast network of squalid camps in south-eastern Bangladesh.

Camps for Rohingya refugees near the town of Cox's Bazar are overcrowded and unhygienic. Disease and organised crime are rampant. Access to education is limited and residents are not allowed to work.

A government-led plan to relocate refugees to Bhashan Char was proposed in 2015, but it has been opposed by aid agencies, human rights groups and the UN, for fear of a storm overwhelming the island and risking thousands of lives.

The island was once regularly submerged by monsoon rains but now has flood protection embankments, hospitals, mosques and homes for 100,000 people built at a cost of more than $112 million by the Bangladesh navy.

Situated 34 kilometres off the coast of Bangladesh, the island surfaced only 20 years ago and has never been inhabited.

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Profile of Hala Insurance

Date Started: September 2018

Founders: Walid and Karim Dib

Based: Abu Dhabi

Employees: Nine

Amount raised: $1.2 million

Funders: Oman Technology Fund, AB Accelerator, 500 Startups, private backers

 

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%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%203S%20Money%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202018%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20London%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Ivan%20Zhiznevsky%2C%20Eugene%20Dugaev%20and%20Andrei%20Dikouchine%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20%245.6%20million%20raised%20in%20total%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.”

UAE currency: the story behind the money in your pockets
360Vuz PROFILE

Date started: January 2017
Founder: Khaled Zaatarah 
Based: Dubai and Los Angeles
Sector: Technology 
Size: 21 employees
Funding: $7 million 
Investors: Shorooq Partners, KBW Ventures, Vision Ventures, Hala Ventures, 500Startups, Plug and Play, Magnus Olsson, Samih Toukan, Jonathan Labin

Banthology: Stories from Unwanted Nations
Edited by Sarah Cleave, Comma Press

Islamophobia definition

A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.

UAE currency: the story behind the money in your pockets