File photo of former ISIL hostage Nadia Murad in Stuttgart, southern Germany on September 12, 2016. Ms Murad, together with another Yazidi victim Lamia Haji Bashar, has been awarded the European Parliament's prestigious Sakharov human rights prize for 2016. Bernd Weissbrod/AFP
File photo of former ISIL hostage Nadia Murad in Stuttgart, southern Germany on September 12, 2016. Ms Murad, together with another Yazidi victim Lamia Haji Bashar, has been awarded the European ParliShow more

Two Yazidi women awarded EU’s Sakharov human rights prize



GENEVA // Two Yazidi women who endured months of harrowing sexual assaults in the hands of ISIL before escaping have been awarded the Sakharov prize for freedom of thought and expression by the European Parliament.

Nadia Murad and Lamia Haji Bashar – now the faces of a campaign to protect their Yazidi people from a genocidal threat – were among thousands of women and girls abducted and held as sexual slaves by ISIL after they rounded up Yazidis in their village of Kocho, near Sinjar in north-west Iraq, in the summer of 2014.

Ms Murad, a slight, softly spoken young woman, was taken by ISIL from her home village of Kocho near Iraq’s northern town of Sinjar in August 2014 and brought to the city of Mosul.

As a captive of the reviled extremist group, Ms Murad, now 23, said she was tortured and raped.

ISIL militants made her disavow her Yazidi faith, an ancient religion with more than half a million adherents concentrated near the Syrian border in northern Iraq.

“The first thing they did was they forced us to covert to Islam,” Ms Murad said earlier this year at the United Nations in Geneva, through an Arabic translator.

In a December speech at the UN Security Council in New York, Ms Murad recounted her so-called “marriage” to one ISIL captor.

He mocked her, beat her and then ordered her to wear makeup and revealing clothes, she told the council.

“I was not able to take any more rape and torture,” she said, explaining why she decided to flee.

Ms Bashar is also from Kocho and was just 16 when she was taken.

“This is a remarkably strong woman who endured things I wouldn’t wish on anyone,” a psychologist who helped arrange for her to receive treatment in Germany, Jan Kizilhan, said.

“Many of her close acquaintances and relatives were killed by Islamic State before her eyes before she was captured, enslaved, sold several times and repeatedly raped along with other Yazidi girls.”

She tried to break free of her captors several times during her 20 months in captivity before finally succeeding.

But even after her escape, she fell into the hands of an Iraqi hospital director in the town of Hawjiah who also abused and raped her and several other victims.

She finally made it out with two friends. But en route to the city of Kirkuk, one of her friends trod on a landmine and was killed instantly, said Mirza Dinnayi, founder of the German-Iraqi aid group Air Bridge Iraq.

Ms Dinnayi has been looking after Ms Bashar since her arrival in Germany in April. Bashar escaped with her life but suffered horrific burns to her face from the blast, losing her right eye.

Guy Verhofstadt, the leader of the Liberal ALDE group, said on Thursday that Ms Murad and Ms Bashar were “inspirational women who have shown incredible bravery and humanity in the face of despicable brutality. I am proud that they have been awarded the 2016 Sakharov prize.”

Parliamentarian Beatriz Becerra Basterrechea, who backed the two winners’ nominations, said the prize is “a recognition of Nadia’s and Lamiya’s fight throughout their life. Both have impressively overcome the brutal sexual slavery they were exposed to by jihadist terrorists and become an example for all of us”.

* Reuters, Agence France-Presse and Associated Press

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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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Burnley 3

Barnes 63', 70', Berg Gudmundsson 75'

Southampton 3

Man of the match

Ashley Barnes (Burnley)