Altaf Hussain, exiled founder of Pakistan's Muttahida Qaumi Movement (MQM), arrives at Kingston Crown Court in London. AFP
Altaf Hussain, exiled founder of Pakistan's Muttahida Qaumi Movement (MQM), arrives at Kingston Crown Court in London. AFP
Altaf Hussain, exiled founder of Pakistan's Muttahida Qaumi Movement (MQM), arrives at Kingston Crown Court in London. AFP
Altaf Hussain, exiled founder of Pakistan's Muttahida Qaumi Movement (MQM), arrives at Kingston Crown Court in London. AFP

Pakistani MQM founder Altaf Hussain acquitted of terror charges


Nicky Harley
  • English
  • Arabic

Pakistani opposition politician Altaf Hussain has been acquitted of terror charges relating to hate speech offences.

Mr Hussain, founder of the Muttahida Qaumi Movement (MQM), had been put on trial at London's Kingston Crown Court, accused of two counts of encouraging terrorism following two speeches he made in August 2016 from London to his followers in Karachi.

On Tuesday, a jury acquitted him of the charges by a majority verdict.

Crowds gathered to hear the 2016 address, which was broadcast from loudspeakers in Karachi. Violence later erupted in the city as police clashed with MQM supporters.

Prosecutors accused Mr Hussain of urging a crowd of strikers in Karachi to ransack media houses and storm the local headquarters of a military unit during his broadcasts.

Two TV studios were soon after attacked and taken off air, while police officers were assaulted and injured, prosecutors said. One person was killed in the violence.

But defence lawyer Rupert Bowers urged jurors to judge the case “by the yardstick of Pakistan” and its “endemic violence".

“Mr Hussain did nothing other than he has always done in trying to represent an oppressed part of the population while organising what is axiomatically a peaceful protest by way of hunger strike,” Mr Bowers said in his summing up.

“If violence ensued in the latter part of that day, he’s regretful of that — he’s not a terrorist.”

While Mr Hussain has been acquitted, he is still being pursued in London’s courts by the Pakistan-based leadership of the MQM, which broke with Mr Hussain after his 2016 speeches and is now attempting to seize control of the party’s UK properties in civil litigation.

A former student leader, Mr Hussain founded the secular organisation in 1984.

The MQM was once the third-largest political party in Pakistan.

Mr Hussain has run the party from London since he arrived in the UK in 1992 for a kidney operation.

He requested asylum in the UK in the 1990s and was later granted British citizenship.

A series of UK investigations into Mr Hussain and MQM were first launched 12 years ago after one of the party's founding members, Imran Farooq, was stabbed to death outside his home in north London.

In 2020, a court in Islamabad, hearing evidence provided by Scotland Yard, convicted three MQM members of his murder and said Mr Hussain had ordered his killing.

Mr Hussain has denied any involvement in Farooq’s death and has not been charged for the crime in Britain.

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Sharjah Wanderers 20 Dubai Tigers 25 (After extra-time)

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When: 7pm kick off

Where: Rugby Park, Dubai Sports City

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UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)

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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.

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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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The years Ramadan fell in May

1987

1954

1921

1888

Updated: February 15, 2022, 6:22 PM