A Hezbollah flag and a poster depicting the group's leader Hassan Nasrallah. Reuters
A Hezbollah flag and a poster depicting the group's leader Hassan Nasrallah. Reuters
A Hezbollah flag and a poster depicting the group's leader Hassan Nasrallah. Reuters
A Hezbollah flag and a poster depicting the group's leader Hassan Nasrallah. Reuters

US offers $10 million for information on Hezbollah’s Salim Ayyash


Joyce Karam
  • English
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The Biden administration offered up to $10 million as a reward for information on Salim Ayyash, a Hezbollah member sentenced in the killing of former Lebanese prime minister Rafik Hariri.

The US State Department announced the bounty on Monday through its Rewards for Justice programme, saying it is looking for the "senior operative in the assassination unit of the terrorist organisation Lebanese Hezbollah”.

The US designated Hezbollah as a foreign terrorist organisation in 1997.

The statement said the reward is also for information that could prevent Ayyash's involvement in terrorism against US targets.

“The reward offer is also for information that leads to preventing him from engaging in an act of international terrorism against US persons or US property,” the statement said.

His whereabouts are unknown. In 2020, the International Criminal Court sentenced him in absentia to five counts of life in prison over the assassination of Hariri.

The US government sees a continued role for Ayyash as "a senior operative in Hezbollah's Unit 121, the group's assassination squad", which it says receives its orders directly from the group's leader Hassan Nasrallah. It said that Ayyash is known to have been involved in efforts to harm US military personnel.

The US said Ayyash led the assassination team that carried out the attack and "was actively involved in the assassination on the day" of February 14, 2005.

David Re, the judge overseeing the Special Tribunal for Lebanon, said the court was confident in Ayyash's guilty verdict.

"Mr Ayyash intended to kill Mr Hariri and had the required knowledge about the circumstances of the assassination mission, including that explosives were the means to be used,” the judge said before the sentencing last December.

He remains at large and Hezbollah has denied accusations about its role in the assassination.

The reward comes only a few days after US military linguist, Mariam Taha Thompson, pleaded guilty to leaking secrets to Hezbollah through a lover – a man she never met – while in Iraq. She faces life in prison.

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Libya's Gold

UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves. 

The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.

Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.

A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.

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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.”