The British government has pledged to “beef up” funding for prisons to tackle radicalisation after a report said jails had failed to recognise the dangers posed by Islamist gangs and convicted terrorists.
Jonathan Hall QC, the independent reviewer of terrorist legislation, said prisons should not be places where convicted terrorists or those with terrorist links have opportunities to plan new attacks.
The Terrorism in Prisons report was commissioned after the November 2019 London Bridge terror attack in which Saskia Jones, 23, and Jack Merritt, 25, were killed.
Usman Khan, a convicted terrorist who had recently been released from prison, launched his attack at an event at Fishmongers’ Hall. Khan, who was wearing a fake suicide vest, was shot dead by armed police on London Bridge after running out of the building.
More than 200 terrorist convicts are in prisons in England and Wales, while a further 200 behind bars have links to terrorism and are deemed at risk of carrying out an attack.
Justice Secretary and Deputy Prime Minister Dominic Raab said the Conservative-led government was committed to isolating radicalisers in prisons and accepted the independent review “pretty much in full”.
He said the threat of terrorist attacks being planned in prisons was increasing because more and more terrorists were being locked up. Mr Raab admitted the government has “to do more to prevent extremists tainting the well”.
He said separation centres within prisons, used to isolate the most radical inmates, should be used more.
“We need to probably make greater use of that so I’m beefing up the money to target those offenders who need to be removed,” he told Sky News. “And finally, we will need this Bill of Rights to replace the Human Rights Act to stop the legal attrition that we’re already starting to see, with terrorists and extremists claiming a right to socialise within prison when actually what they want to do is radicalise.”
Under the government’s new UK Bill of Rights inmates will not have a right to socialise in prison.
In his report, Mr Hall said the prison service had “lost its role in the national endeavour to reduce the risk of terrorism".
He also said the impact of Islamist gangs on prison culture had been underappreciated.
Mr Raab told Times Radio that “sensibilities” around cultural or religious practices should not prevent prisons from cracking down on radicalisation.
He said inmates responsible for preparing meals should not have access to private areas of prison kitchens without supervision.
“It’s one thing to say, of course, we need to respect the right for prisoners to be able to prepare halal food. It is another thing for them to say that kitchens are no-go areas for anyone that doesn’t respect their rules,” he told Times Radio.
“That is the kind of finely balanced judgment call, decision, set of actions, that the prison service need to monitor and they do monitor it very carefully.
“But you can see it’s fiendishly difficult. What we’re saying and what Jonathan Hall says, and I think he’s right, is we have to nip in the bud much earlier the kind of stepping away from just respecting your own faith to controlling and coercing others, because that is the precursor to the kind of radicalisation that taints the well inside prisons.”
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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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Fuel economy, combined: 10.3L / 100km
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Rating: 4/5