British lawyer Karim Khan in Najaf in central Iraq during his visit to Grand Ayatollah Ali Sistani. AFP
British lawyer Karim Khan in Najaf in central Iraq during his visit to Grand Ayatollah Ali Sistani. AFP
British lawyer Karim Khan in Najaf in central Iraq during his visit to Grand Ayatollah Ali Sistani. AFP
British lawyer Karim Khan in Najaf in central Iraq during his visit to Grand Ayatollah Ali Sistani. AFP

UK lawyer leading UN ISIS investigations in Iraq is favourite to be next ICC prosecutor


Nicky Harley
  • English
  • Arabic

A British lawyer investigating ISIS atrocities for the UN is tipped to be the next chief prosecutor at the International Criminal Court.

Karim Khan QC is one of the favourites for the position when elections are held this week.

The process to fill the most important post in the field of international criminal justice was deadlocked for several months.

The successor to Gambia's Fatou Bensouda was supposed to be chosen last year but the court’s 123 member countries were unable to agree on one of the four original names shortlisted.

In November, Mr Khan and four other candidates were added to the shortlist.

For the past few years Mr Khan, 50, led the UN's ISIS war crimes unit investigating genocides by the terrorist group in Iraq.

Last week, his work led to the return of the bodies of loved ones massacred by ISIS to Yazidi relatives. The bodies were recovered from mass graves.

On Monday, the ICC announced it would hold an election this week after failing to come to a unanimous agreement.

Another close contender for the role is Irish lawyer Fergal Gaynor.

Ms Bensouda will complete her nine-year term in June. She is the ICC’s second chief prosecutor and previously served as deputy prosecutor under first chief prosecutor Luis Moreno Ocampo.

"Bensouda set the table for the next chief prosecutor with quite a few sharp objects," Mark Kersten, an international law expert at the Munk School of Global Affairs at the University of Toronto, told The Telegraph.

“The biggest challenge to whoever is the next chief prosecutor over the next nine years is to figure out how to ensure that those sharp objects cut the right way.

“Are you going to have a prosecutor who is meek and will kowtow to the West or are you going to get someone who is willing to stand up to major powers and is willing to risk very little co-operation in response?

“Both Khan and Gaynor have traits that could be good for the ICC, both would be willing to stand up to world powers, whether they would end up doing that is another question.”

Last year, the United States imposed sanctions on Ms Bensouda and one of her top aides for investigating the actions of American troops in Afghanistan.

Although former president Donald Trump's administration rejected the court, President Joe Biden is expected to take a less confrontational stance, but Washington is unlikely to lift its objections to the Afghanistan investigation.

Last week, the ICC announced that it had jurisdiction over the occupied Palestinian territories, allowing it to investigate war-crime allegations against Israeli forces, leading Israeli Prime Minister Benjamin Netanyahu to label the ruling as "pure anti-Semitism".

The aim of the International Criminal Court is to prosecute and bring to justice those responsible for the worst crimes – genocide, crimes against humanity and war crimes, and it is a court of last resort, intervening only when national authorities cannot or will not prosecute.

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FFP EXPLAINED

What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.

What the rules dictate? 
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.

What are the penalties? 
There are a number of punishments, including fines, a loss of prize money or having to reduce squad size for European competition – as happened to PSG in 2014. There is even the threat of a competition ban, which could in theory lead to PSG’s suspension from the Uefa Champions League.

2.0

Director: S Shankar

Producer: Lyca Productions; presented by Dharma Films

Cast: Rajnikanth, Akshay Kumar, Amy Jackson, Sudhanshu Pandey

Rating: 3.5/5 stars

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MATCH INFO

Red Star Belgrade v Tottenham Hotspur, midnight (Thursday), UAE

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

How to invest in gold

Investors can tap into the gold price by purchasing physical jewellery, coins and even gold bars, but these need to be stored safely and possibly insured.

A cheaper and more straightforward way to benefit from gold price growth is to buy an exchange-traded fund (ETF).

Most advisers suggest sticking to “physical” ETFs. These hold actual gold bullion, bars and coins in a vault on investors’ behalf. Others do not hold gold but use derivatives to track the price instead, adding an extra layer of risk. The two biggest physical gold ETFs are SPDR Gold Trust and iShares Gold Trust.

Another way to invest in gold’s success is to buy gold mining stocks, but Mr Gravier says this brings added risks and can be more volatile. “They have a serious downside potential should the price consolidate.”

Mr Kyprianou says gold and gold miners are two different asset classes. “One is a commodity and the other is a company stock, which means they behave differently.”

Mining companies are a business, susceptible to other market forces, such as worker availability, health and safety, strikes, debt levels, and so on. “These have nothing to do with gold at all. It means that some companies will survive, others won’t.”

By contrast, when gold is mined, it just sits in a vault. “It doesn’t even rust, which means it retains its value,” Mr Kyprianou says.

You may already have exposure to gold miners in your portfolio, say, through an international ETF or actively managed mutual fund.

You could spread this risk with an actively managed fund that invests in a spread of gold miners, with the best known being BlackRock Gold & General. It is up an incredible 55 per cent over the past year, and 240 per cent over five years. As always, past performance is no guide to the future.

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MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

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