Men perform morning prayers at East London Mosque. Getty
Men perform morning prayers at East London Mosque. Getty
Men perform morning prayers at East London Mosque. Getty
Men perform morning prayers at East London Mosque. Getty

UK government pledges £24m to protect mosques and Muslim schools


Soraya Ebrahimi
  • English
  • Arabic

Places of worship will receive £28 million ($36 million) in funding to help keep them and their faithful safe, Security Minister Tom Tugendhat said.

The funding is part of the government’s commitment to ensure that religious communities in England and Wales are protected from the threat of hate crime and terror attacks, and can practise their faith freely and without fear.

The money is for physical protective security, such as CCTV, intruder alarms and secure fencing, to help protect mosques, churches, temples, gurdwaras and other places of worship.

In 2021-2022, 42 per cent of religious hate crimes recorded by the police in England and Wales were against Muslims.

This year, up to £24.5 million will again be available to protect mosques and Muslim faith schools.

This protection will be through a new scheme called the Protective Security for Mosques Scheme and a programme for Muslim schools launched directly to teachers of eligible schools earlier in the year.

"Freedom of religious belief and the freedom to worship are fundamental," Mr Tugendhat said.

"We will defend against any form of hatred targeting our communities and are committed to protecting all faiths.

"I encourage any place of worship that feels they would need assistance to apply under the schemes."

Another £3.5 million funding will also be available for all other (non-Muslim and non-Jewish) faiths through the Places of Worship Protective Security Funding Scheme.

The Jewish community continues to receive funding for schools, synagogues and other community sites through a separate scheme called the Jewish Community Protective Security Grant, which was increased by £1 million this year.

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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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