Demonstrators at an Iran solidarity rally in London last month. Reuters
Demonstrators at an Iran solidarity rally in London last month. Reuters
Demonstrators at an Iran solidarity rally in London last month. Reuters
Demonstrators at an Iran solidarity rally in London last month. Reuters

UK 'blocks plans' to proscribe Iran's Revolutionary Guard as terrorist group


Laura O'Callaghan
  • English
  • Arabic

Britain’s Foreign Office has blocked a plan that would have led to Iran’s Islamic Revolutionary Guard Corps (IRGC) proscribed as a terrorist organisation, according to a report.

The government department cited the need to keep communication channels with Tehran open as relations between the two countries continue on a downward spiral.

Foreign Secretary James Cleverly was told by MPs in the House of Commons this week there had been a “major groundswell” in requests for the Sunak government to designate the IRGC as a terrorist organisation. Mr Cleverly said the Revolutionary Guard’s “malign impact” was felt across the region and the world, but stopped short of saying a proscription was in the pipeline.

Campaigners, analysts and politicians from across the political spectrum have urged the Conservative government to place the IRGC in the same category as Al Qaeda and ISIS. MI5, the UK’s security service, has accused Tehran of plotting to assassinate or abduct British residents on several occasions.

Journalists in London have been given round-the-clock police protection after being sent death threats.

Iran’s execution of British-Iranian citizen Ali Reza Akbari on spying charges last month further soured diplomatic relations.

Under the Terrorism Act 2000, the home secretary has the authority to place a group on the UK’s terrorist list if they believe it is concerned in terrorism, and it is proportionate to do so.

Suella Braverman, the home secretary, and Tom Tugendhat, the security minister, are understood to be in favour of a proscription for the IRGC.

But the Foreign Office is said to have halted the plan, citing the need to retain a communication channel with Iran.

The Times quoted a Whitehall source as saying officials in the Foreign Office “have real concerns about proscription because they want to maintain access”.

“The Home Office, and the government more broadly, supports the move,” the insider added. “The IRGC should have been proscribed by now but the whole process is on ice.”

Officials in the Foreign Office, which is led by Mr Cleverly, reportedly questioned how the IRGC would be defined as a terrorist organisation given the fact it is a government agency, unlike most other groups on the list.

The Foreign Office declined to comment.

The Foreign Secretary has repeatedly declined to say whether the government has plans to proscribe the IRGC, but said ministers would not limit themselves to current sanctions options against Iran.

David Lammy, Labour’s shadow foreign secretary, earlier this week questioned Mr Cleverly about such a move.

“The Islamic Revolutionary Guard Corps is responsible for 10 kidnap and death plots on British soil, the execution of Ali Reza Akbari, the unjust imprisonment of British nationals, supports violent militia across the Middle East, and a brutal crackdown on courageous Iranian protesters,” Mr Lammy said in parliament.

“Labour has been clear, and I wonder if we might get clarity from the Foreign Secretary, we would proscribe the IRGC either using existing terrorism legislation or by creating a new process of proscription for hostile state actors. When is the Foreign Secretary going to act?”

Mr Cleverly replied that the government had “already sanctioned over 300 individuals and entities because of the crackdown on protesters”, as well as individuals and organisations involved in supplying drones to Russia.

The UK has also imposed sanctions on the prosecutor general responsible for passing the death penalty on Mr Akbari, he said, “and we will continue to take actions which will curtail the ability of the IRGC to do these things”.

Mr Cleverly said that ministers “always keep our future options under review”.

Fifa Club World Cup:

When: December 6-16
Where: Games to take place at Zayed Sports City in Abu Dhabi and Hazza bin Zayed Stadium in Al Ain
Defending champions: Real Madrid

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

The%20Beekeeper
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First Person
Richard Flanagan
Chatto & Windus 

Company%20profile
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MATCH INFO

Uefa Nations League

League A, Group 4
Spain v England, 10.45pm (UAE)

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

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.”

In numbers: China in Dubai

The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent

The specs

  Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now

Have you been targeted?

Tuan Phan of SimplyFI.org lists five signs you have been mis-sold to:

1. Your pension fund has been placed inside an offshore insurance wrapper with a hefty upfront commission.

2. The money has been transferred into a structured note. These products have high upfront, recurring commission and should never be in a pension account.

3. You have also been sold investment funds with an upfront initial charge of around 5 per cent. ETFs, for example, have no upfront charges.

4. The adviser charges a 1 per cent charge for managing your assets. They are being paid for doing nothing. They have already claimed massive amounts in hidden upfront commission.

5. Total annual management cost for your pension account is 2 per cent or more, including platform, underlying fund and advice charges.

Cricket World Cup League 2

UAE squad

Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind

Fixtures

Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE

if you go

The flights

Etihad, Emirates and Singapore Airlines fly direct from the UAE to Singapore from Dh2,265 return including taxes. The flight takes about 7 hours.

The hotel

Rooms at the M Social Singapore cost from SG $179 (Dh488) per night including taxes.

The tour

Makan Makan Walking group tours costs from SG $90 (Dh245) per person for about three hours. Tailor-made tours can be arranged. For details go to www.woknstroll.com.sg

SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)
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Defending champions

World Series: South Africa
Women’s World Series: Australia
Gulf Men’s League: Dubai Exiles
Gulf Men’s Social: Mediclinic Barrelhouse Warriors
Gulf Vets: Jebel Ali Dragons Veterans
Gulf Women: Dubai Sports City Eagles
Gulf Under 19: British School Al Khubairat
Gulf Under 19 Girls: Dubai Exiles
UAE National Schools: Al Safa School
International Invitational: Speranza 22
International Vets: Joining Jack

Company profile

Name: Fruitful Day

Founders: Marie-Christine Luijckx, Lyla Dalal AlRawi, Lindsey Fournie

Based: Dubai, UAE

Founded: 2015

Number of employees: 30

Sector: F&B

Funding so far: Dh3 million

Future funding plans: None at present

Future markets: Saudi Arabia, potentially Kuwait and other GCC countries

Updated: February 03, 2023, 3:43 PM