When 25-year-old Basel first rang the doorbell of an imposing central London townhouse two years ago, he had few expectations and even fewer possessions. He had finally claimed asylum in the United Kingdom after travelling for months across countries whose names he did not know, to escape the war that had ravaged his hometown, the northern Syrian city of Aleppo.
Other Syrians had recommended a service matching refugees in need of temporary accommodation with households willing to take them in. He signed up, thinking a few nights sleep on a proper bed would do him good.
What has happened since he crossed the threshold still leaves him in a state of disbelief.
Karina, a Canadian businesswoman, greeted him as he cautiously stood by the door. A few days prior, she had read an article about the hosting service as she waited to board a flight to the United States and instinctively signed up for it. As she landed, her phone buzzed. They had a match.
On the day of Basel’s arrival, Karina had arranged for one of her two daughters – who had worked in the Middle East – to translate the rules of the house over Skype. “It was the most extraordinary transformation,” Karina said, recounting how Basel relaxed at the sound of his own language.
But he was not prepared for how the conversation would end. “I showed him everything and said, by the way, we are leaving in a couple of days,” Karina laughed. Basel was handed the keys to a three-storey mansion in one of London’s upmarket districts as the owners headed off to France.
Karina recalled that her husband wanted to postpone the move until their return. “He is homeless,” she replied.
Karina, who is Jewish, said this gesture was rooted in her own family history. “You know, life is tough. My mum was hidden during the war," she said, referring to World War Two. "Someone who was a complete stranger hid a husband, wife and child for a year at huge personal risk, much more than me risking my paintings being stolen. It was a very different thing – it was life or death.”
Refugees at Home, a grassroots initiative launched in 2016 by broadcast journalist Sara Nathan, has made it its mission to bring together refugees in need of accommodation with hosts like Karina who are willing to open their doors to them. On an average night, 160 refugees are hosted in British households through the service.
Ms Nathan came up with the concept for the online platform together with her brother, Timothy, and his wife, Nina, who wanted to host but did not know how to go about it.
"We knew that whatever we did to help refugees could not involve six weeks in Calais or Lesbos, but we could deploy our homes and our skills, so that seemed a very sensible thing to do," Ms Nathan told The National.
Working low-cost from their kitchen tables, the group began by drafting a list of people who could host, as well as organisations who could refer and vet the guests. The system they devised fills a gap that would otherwise lead many to destitution.
According to the Refugee Council, accommodation is one of the greatest challenges in the UK. Refugees who have had their asylum request approved by the Home Office have 28 days to rent a place that is both affordable and suitable before having to vacate the state-funded accommodation.
Asylum seekers who have had their claim turned down and are appealing the decision are also evicted. Despite not being legally entitled to work in the UK, they lose the right to the £37 a week in social welfare. As a result, they face barriers to the private rented sector and risk drifting into homeless or recurring to negative coping mechanisms.
According to Ms Nathan, navigating the bureaucracy of the UK immigration system is, at times, the greatest obstacle of all. “My 27-year-old son, if he was dumped somewhere with no bank account, no job, no language, he wouldn’t cope – why would anyone else’s son?” she said. “And my son hasn’t been traumatised, he hasn’t had a horrific journey and he hasn’t had to deal with the Home Office for six months. I don’t want another mother’s son to be in that position.”
Ms Nathan hosts two guests at a time on a rolling basis. So far, she has welcomed a dozen in her home. She said those who apply as hosts are disproportionately Jewish, LGBT members and Quakers – a splinter Christian group – as the refugees’ experience of persecution resonates with their own.
In the case of Basel and Karina – who have asked to be referred by their first names to protect their location – their painful past has brought them together more than they would ever have predicted.
The initial six-week stay arranged by Refugees at Home turned into Basel’s two-year stay with the family. Karina has since pushed him to pursue a degree in civil engineering rather than working night shifts in a restaurant. She has also come to the rescue in many occasions, hiring a lawyer when his brother was caught up in a police raid in Turkey or booking new tickets when his mother failed to board the flight that would take the family to Germany for resettlement.
While their bond is now solid, mutual acceptance has not been a straight path. "When I told Basel I was "yahudi" [Jewish in Arabic], he jumped from the chair," Karina remembered. The word Jewish had conjured in his mind the brutalities perpetrated against Palestinians by the Israeli army, and he wrestled to reconcile his benefactor with that image.
Karina, in turn, had to learn of Basel's beliefs as a Muslim. "Once I got home and Karina said something I did not understand about a date," Basel told The National. "I thought she wanted the date of when I was going to move out. Instead, she had got me dates for Ramadan."
Karina at time teases her daughters that Basel is her favourite son. For Basel, too, the experience has been life-changing. “Now I have two families,” he said.
The biogs
Name: Zinah Madi
Occupation: Co-founder of Dots and links
Nationality: Syrian
Family: Married, Mother of Tala, 18, Sharif, 14, Kareem, 2
Favourite Quote: “There is only one way to succeed in anything, and that is to give it everything.”
Name: Razan Nabulsi
Occupation: Co-founder of Dots and Links
Nationality: Jordanian
Family: Married, Mother of Yahya, 3.5
Favourite Quote: A Chinese proverb that says: “Be not afraid of moving slowly, be afraid only of standing still.”
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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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Evacuations to France hit by controversy
- Over 500 Gazans have been evacuated to France since November 2023
- Evacuations were paused after a student already in France posted anti-Semitic content and was subsequently expelled to Qatar
- The Foreign Ministry launched a review to determine how authorities failed to detect the posts before her entry
- Artists and researchers fall under a programme called Pause that began in 2017
- It has benefited more than 700 people from 44 countries, including Syria, Turkey, Iran, and Sudan
- Since the start of the Gaza war, it has also included 45 Gazan beneficiaries
- Unlike students, they are allowed to bring their families to France
UAE currency: the story behind the money in your pockets