A Muslim Brotherhood-led campaign alleging Islamophobia within Britain’s ruling Conservative party has led the most senior cabinet minister from a Muslim background to warn he is being targeted by a hate-filled trolls.
Home Secretary Sajid Javid has dismissed the allegations and subsequent calls for an inquiry, which have gained the backing of former party chairman Sayeeda Warsi. A social media campaign spearheaded by the Muslim Council of Britain (MCB) and the Muslim Association of Britain (MAB) has sought to put pressure on the Conservatives. Highlighting a handful of instances, including a deleted tweet from a backbench MP, they have alleged the party has “normalised Islamophobia”.
According to a 2015 British government report, the Muslim Brotherhood “dominated” the MAB and “played an important role in establishing and then running” the MCB.
Mr Javid has fought back, pointing out how he had been targeted personally. “Since becoming home secretary, I've been called a Coconut, an Uncle Tom and much worse," he said. “And some people even question whether I'm really Muslim or not. Some say I'm too Muslim, others say I'm not Muslim enough. I can't keep up.
“But there's one thing I do know about being a Muslim in Great Britain today,” he added. “And that is that I have the freedom to define myself, not Muslim extremists or the far right.
“My relationship with God is my business. Just as yours is."
Mr Javid, who is widely tipped as a future prime minister, dismissed the claims of the MCB to be the voice of British Muslims. He pointed out that the last Labour government severed dialogue with the group.
"The Muslim Council of Britain does not represent Muslims in this country. You find me a group of Muslims that thinks they're represented by the MCB,” he said. "I would be very suspicious of anything that they've got to say, not least because, under the last Labour government - and a policy continued by us, we don't deal with the MCB.
"We don't deal with it because too many of their members have had favourable comments on extremists and that's not acceptable."
Now a member of the House of Lords, Lady Warsi has offered to lead an inquiry. Her party ally Mohammed Amin, the head of the Conservative Muslim Forum, has backed her call.
Brandon Lewis, the party chairman, has dismissed their claims however and there is dismay at the hijacking of the issue. Pointing out Lady Warsi remains aggrieved that she no longer serves at the top of the party, one analyst said the MCB campaign gave her a platform to use against her colleagues. “The MCB really want to force the government to move back to talking to it and Sayeeda Warsi creates the pressure to push Conservatives to meet its demands,” he said. “It’s about building an agenda.”
The row also detracts attention from allegations of anti-Semitism surrounding Jeremy Corbyn, the Labour leader. Newspaper reports suggest that the MCB and MAB have a long-standing alliance with the left-winger that has bolstered the position of extremist Islamists within the opposition.
"For almost 20 years now there has been an alliance between Jeremy Corbyn's anti-Iraq war coalition and organisations linked to the radical Muslim Brotherhood," the Daily Telegraph warned. "To their shame the MCB – who were the first to call for an enquiry into Islamophobia in the Tory party – have used the term as a political card."
The Brutalist
Director: Brady Corbet
Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn
Rating: 3.5/5
Europe’s rearming plan
- Suspend strict budget rules to allow member countries to step up defence spending
- Create new "instrument" providing €150 billion of loans to member countries for defence investment
- Use the existing EU budget to direct more funds towards defence-related investment
- Engage the bloc's European Investment Bank to drop limits on lending to defence firms
- Create a savings and investments union to help companies access capital
The specs
Engine: 6.2-litre supercharged V8
Power: 712hp at 6,100rpm
Torque: 881Nm at 4,800rpm
Transmission: 8-speed auto
Fuel consumption: 19.6 l/100km
Price: Dh380,000
On sale: now
Info
What: 11th edition of the Mubadala World Tennis Championship
When: December 27-29, 2018
Confirmed: men: Novak Djokovic, Rafael Nadal, Kevin Anderson, Dominic Thiem, Hyeon Chung, Karen Khachanov; women: Venus Williams
Tickets: www.ticketmaster.ae, Virgin megastores or call 800 86 823
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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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How to turn your property into a holiday home
- Ensure decoration and styling – and portal photography – quality is high to achieve maximum rates.
- Research equivalent Airbnb homes in your location to ensure competitiveness.
- Post on all relevant platforms to reach the widest audience; whether you let personally or via an agency know your potential guest profile – aiming for the wrong demographic may leave your property empty.
- Factor in costs when working out if holiday letting is beneficial. The annual DCTM fee runs from Dh370 for a one-bedroom flat to Dh1,200. Tourism tax is Dh10-15 per bedroom, per night.
- Check your management company has a physical office, a valid DTCM licence and is licencing your property and paying tourism taxes. For transparency, regularly view your booking calendar.