President Erdogan holds up his hand in the Rabia or Rabaa four finger sign of the Muslim Brotherhood. AFP
President Erdogan holds up his hand in the Rabia or Rabaa four finger sign of the Muslim Brotherhood. AFP
President Erdogan holds up his hand in the Rabia or Rabaa four finger sign of the Muslim Brotherhood. AFP
President Erdogan holds up his hand in the Rabia or Rabaa four finger sign of the Muslim Brotherhood. AFP

Turkey provides base for '20,000 Egyptian Muslim Brotherhood' supporters


Damien McElroy
  • English
  • Arabic

A report on the Turkish government's ties to the Muslim Brotherhood has estimated that most of the Egyptian community living in the country are loyal to the movement.

The Century Foundation report said that as many 30,000 Egyptians were living in Turkey and most were being given shelter by the government of President Recep Tayyip Erdogan.

While the exact number of Egyptians in Turkey is not in official statistics, the report quoted an opposition leader in Istanbul as saying 20,000 Egyptian Muslim Brotherhood members lived on Turkish soil.

Among the high-profile members sheltering in the country was Medhat Al Haddad, who "the Egyptian government is accusing of heading the financial committee of the movement in Turkey", the report said.

Egyptians in mass departure from home after Morsi removal

The 2013 collapse of the Muslim Brotherhood government in Cairo, led by the short-lived presidency of Mohammed Morsi, spurred many Egyptians living in Turkey to leave their homeland.

The development was seized on by Mr Erdogan and his closest aides to bring his party into closer alignment with the Muslim Brotherhood, the report said.

It was written by Abdelrahman Ayyash, an Egyptian researcher in Washington.

Brotherhood supporters, members and officials have made it clear, through their published articles, op-eds and studies, that they are adopting policies in the Turkish model

The report detailed how Egyptian Brotherhood members received stipends to support them in Turkey, although these payments were not enough for the local cost of living.

Turkey also hosted regular conferences of the Brotherhood, including one in April 2018 in which the group's 90th anniversary was celebrated with a gathering of "Islamist leaders of different nationalities".

"Brotherhood supporters, members and officials have made it clear, through their published articles, op-eds and studies, that they are adopting policies in the Turkish model," the report said.

In Mr Ayyash's view, Brotherhood members had embraced Mr Erdogan as a "political mentor and close ally".

At the same time, the trend of "provincialisation" of the Brotherhood towards home country concerns reversed, and along with it an emphasis on internal critical thinking towards "emotional discourse".

Proliferation of Turkey's Islamist networks

While there was substantial competition between Mr Erdogan's AKP and the Muslim Brotherhood in the early part of the century, the German domestic intelligence service was highlighting the Turkish government's Islamist networks as early as 2005.

That year the 2005 annual report on the protection of the constitution shone a spotlight on the role of Turkish-backed organisations in the country.

"Their wide range of Islamist-oriented educational and support activities, especially for children and adolescents from immigrant families, are used to promote the creation and proliferation of an Islamist milieu in Germany," it said.

Since then the melding of the AKP with the Muslim Brotherhood had transformed Turkey's position in the world, as it lost enthusiasm for joining the EU and became detached from its alliance with the US and Nato.

One of Mr Erdogan's closest allies, Yasin Aktay, a former AKP deputy chairman, has said the Muslim Brotherhood is a tool of state power.

“The Muslim Brotherhood represents Turkey’s soft power,” Mr Aktay said.

The Brotherhood is listed as terror organisation in the UAE and other countries.

After the failed coup attempt against Mr Erdogan in 2016, the report said he had used Egypt as a "scarecrow" to suppress his opponents, including dissidents in his own movement.

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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.”

Roll of honour 2019-2020

Dubai Rugby Sevens
Winners: Dubai Hurricanes
Runners up: Bahrain

West Asia Premiership
Winners: Bahrain
Runners up: UAE Premiership

UAE Premiership
}Winners: Dubai Exiles
Runners up: Dubai Hurricanes

UAE Division One
Winners: Abu Dhabi Saracens
Runners up: Dubai Hurricanes II

UAE Division Two
Winners: Barrelhouse
Runners up: RAK Rugby

PROFILE OF STARZPLAY

Date started: 2014

Founders: Maaz Sheikh, Danny Bates

Based: Dubai, UAE

Sector: Entertainment/Streaming Video On Demand

Number of employees: 125

Investors/Investment amount: $125 million. Major investors include Starz/Lionsgate, State Street, SEQ and Delta Partners

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

UAE currency: the story behind the money in your pockets
The Perfect Couple

Starring: Nicole Kidman, Liev Schreiber, Jack Reynor

Creator: Jenna Lamia

Rating: 3/5

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ETFs explained

Exhchange traded funds are bought and sold like shares, but operate as index-tracking funds, passively following their chosen indices, such as the S&P 500, FTSE 100 and the FTSE All World, plus a vast range of smaller exchanges and commodities, such as gold, silver, copper sugar, coffee and oil.

ETFs have zero upfront fees and annual charges as low as 0.07 per cent a year, which means you get to keep more of your returns, as actively managed funds can charge as much as 1.5 per cent a year.

There are thousands to choose from, with the five biggest providers BlackRock’s iShares range, Vanguard, State Street Global Advisors SPDR ETFs, Deutsche Bank AWM X-trackers and Invesco PowerShares.

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Tips for used car buyers
  • Choose cars with GCC specifications
  • Get a service history for cars less than five years old
  • Don’t go cheap on the inspection
  • Check for oil leaks
  • Do a Google search on the standard problems for your car model
  • Do your due diligence. Get a transfer of ownership done at an official RTA centre
  • Check the vehicle’s condition. You don’t want to buy a car that’s a good deal but ends up costing you Dh10,000 in repairs every month
  • Validate warranty and service contracts with the relevant agency and and make sure they are valid when ownership is transferred
  • If you are planning to sell the car soon, buy one with a good resale value. The two most popular cars in the UAE are black or white in colour and other colours are harder to sell

Tarek Kabrit, chief executive of Seez, and Imad Hammad, chief executive and co-founder of CarSwitch.com

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