Mark Frerichs, pictured in Iraq, was abducted in Afghanistan in January 2020. AP
Mark Frerichs, pictured in Iraq, was abducted in Afghanistan in January 2020. AP
Mark Frerichs, pictured in Iraq, was abducted in Afghanistan in January 2020. AP
Mark Frerichs, pictured in Iraq, was abducted in Afghanistan in January 2020. AP

Fears US pull-out from Afghanistan will leave hostages languishing


Paul Peachey
  • English
  • Arabic

President Joe Biden's plan to withdraw all US troops from Afghanistan this year will make it harder to track and rescue Americans held by the Taliban, a group representing the families of hostages said on Wednesday.

The James W Foley Legacy Foundation said in its annual report that the release of US citizens should have been a greater factor in talks before the US agreed to a peace deal with the Taliban in February 2020.

Three Americans are known to be missing in Afghanistan.

Mark Frerichs, a former US Navy diver, was working as a contractor when he was kidnapped in the capital Kabul weeks before the US-Taliban deal was signed. It is believed he was at the time being held by the Taliban-linked Haqqani network.

Cydney Mizell, a humanitarian aid worker who lived in the southern city of Kandahar, was kidnapped by gunmen in 2008. The US said she was probably killed the same year.

Writer Paul Overby disappeared in Khost Province, in eastern Afghanistan in 2014, on his way to Waziristan, in Pakistan's Federally Administered Tribal Areas.

US aid worker Cydney Mizell was seized in Kandahar in 2008 and is feared dead. AFP
US aid worker Cydney Mizell was seized in Kandahar in 2008 and is feared dead. AFP

The US is offering rewards of $5 million for information leading to the location, recovery and return of each of these Americans.

The foundation said it was concerned about the fate of hostages in Afghanistan with the prospect of a resurgence by Al Qaeda and the Taliban.

All US and Nato-allied troops – including those involved in special operations – are scheduled to end the country's longest war by September 11, 2021, the 20th anniversary of the terrorist attacks on New York and Washington that sparked the invasion of Afghanistan.

The group said once US troops had left, it would "become more difficult to generate the intelligence needed to find Americans and conduct rescue operations for current hostages held in the area”.

It said that falling US troop numbers was "an erosion of the leverage needed to make progress on resolving these cases”.

“The continued holding of US hostages undermines the credibility of any negotiation or deal on other topics with the hostage-holders,” it said.

Concerns Taliban could regain total control

The US said this month it was halfway through the withdrawal process and was on track to hit its September deadline. Observers fear the mass drawdown could clear the way for the Taliban to assume total control and reverse human rights progress made since the terrorist group was removed from power in 2001.

The report, based on interviews with former hostages, their families and officials, said it was broadly happy with changes brought in by the US government in 2015, which included an FBI-led hostage recovery cell.

But it said more needed to be done to make hostage recovery a greater priority during talks with enemies of the US.

Some families believed that securing the release of the hostages “was not made a precondition for any settlement during the peace talks in Doha, Qatar, with the Taliban”.

“Across conflict zones since 2015, in Syria, Yemen, Iraq, and Afghanistan at least, we have seen that Americans come home when US negotiators place priority on their return,” the report said.

US officials told The Washington Post that talks on the fate of hostages in Afghanistan took place behind closed doors.

They said it resulted in the Taliban taking custody of an American hostage previously held by the Haqqani network.

Senior US peace envoy, Zalmay Khalilzad, told Congress he had repeatedly demanded the release of Mr Frerichs and “enlisted the support of senior Qatari and Pakistani officials on his behalf”.

The American government said it would retain a US embassy presence, but that would become more difficult should the military’s departure lead to a Taliban takeover.

The US hopes that new technology, including drones, will help to bridge the intelligence gap.

The foundation was created by Diane Foley, whose son, James Foley, was killed by ISIS militants in 2014 while in Syria as a freelance journalist. The group tracks 54 publicly known people held hostage or illegally detained around the world.

Foley's death and that of other western hostages by ISIS terrorists led to the 2015 overhaul, after families complained that their voices were not being heard by the US government.

Tributes from the UAE's personal finance community

• Sebastien Aguilar, who heads SimplyFI.org, a non-profit community where people learn to invest Bogleheads’ style

“It is thanks to Jack Bogle’s work that this community exists and thanks to his work that many investors now get the full benefits of long term, buy and hold stock market investing.

Compared to the industry, investing using the common sense approach of a Boglehead saves a lot in costs and guarantees higher returns than the average actively managed fund over the long term. 

From a personal perspective, learning how to invest using Bogle’s approach was a turning point in my life. I quickly realised there was no point chasing returns and paying expensive advisers or platforms. Once money is taken care off, you can work on what truly matters, such as family, relationships or other projects. I owe Jack Bogle for that.”

• Sam Instone, director of financial advisory firm AES International

"Thought to have saved investors over a trillion dollars, Jack Bogle’s ideas truly changed the way the world invests. Shaped by his own personal experiences, his philosophy and basic rules for investors challenged the status quo of a self-interested global industry and eventually prevailed.  Loathed by many big companies and commission-driven salespeople, he has transformed the way well-informed investors and professional advisers make decisions."

• Demos Kyprianou, a board member of SimplyFI.org

"Jack Bogle for me was a rebel, a revolutionary who changed the industry and gave the little guy like me, a chance. He was also a mentor who inspired me to take the leap and take control of my own finances."

• Steve Cronin, founder of DeadSimpleSaving.com

"Obsessed with reducing fees, Jack Bogle structured Vanguard to be owned by its clients – that way the priority would be fee minimisation for clients rather than profit maximisation for the company.

His real gift to us has been the ability to invest in the stock market (buy and hold for the long term) rather than be forced to speculate (try to make profits in the shorter term) or even worse have others speculate on our behalf.

Bogle has given countless investors the ability to get on with their life while growing their wealth in the background as fast as possible. The Financial Independence movement would barely exist without this."

• Zach Holz, who blogs about financial independence at The Happiest Teacher

"Jack Bogle was one of the greatest forces for wealth democratisation the world has ever seen.  He allowed people a way to be free from the parasitical "financial advisers" whose only real concern are the fat fees they get from selling you over-complicated "products" that have caused millions of people all around the world real harm.”

• Tuan Phan, a board member of SimplyFI.org

"In an industry that’s synonymous with greed, Jack Bogle was a lone wolf, swimming against the tide. When others were incentivised to enrich themselves, he stood by the ‘fiduciary’ standard – something that is badly needed in the financial industry of the UAE."

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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”.

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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.”

Strait of Hormuz

Fujairah is a crucial hub for fuel storage and is just outside the Strait of Hormuz, a vital shipping route linking Middle East oil producers to markets in Asia, Europe, North America and beyond.

The strait is 33 km wide at its narrowest point, but the shipping lane is just three km wide in either direction. Almost a fifth of oil consumed across the world passes through the strait.

Iran has repeatedly threatened to close the strait, a move that would risk inviting geopolitical and economic turmoil.

Last month, Iran issued a new warning that it would block the strait, if it was prevented from using the waterway following a US decision to end exemptions from sanctions for major Iranian oil importers.

Five expert hiking tips
    Always check the weather forecast before setting off Make sure you have plenty of water Set off early to avoid sudden weather changes in the afternoon Wear appropriate clothing and footwear Take your litter home with you
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The specs: 2018 Dodge Durango SRT

Price, base / as tested: Dh259,000

Engine: 6.4-litre V8

Power: 475hp @ 6,000rpm

Torque: 640Nm @ 4,300rpm

Transmission: Eight-speed automatic

Fuel consumption, combined: 7.7L / 100km

The specs: Volvo XC40

Price: base / as tested: Dh185,000

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Gearbox: Eight-speed automatic

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Torque: 350Nm @ 1,500rpm

Fuel economy, combined: 10.4L / 100km

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Favourite holiday destination: Thailand. I go every year and I’m obsessed with the fitness camps there.

Favourite book: Born to Run by Christopher McDougall. It’s an amazing story about barefoot running.

Favourite film: A League of their Own. I used to love watching it in my granny’s house when I was seven.

Personal motto: Believe it and you can achieve it.

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