Thousands of protesters filled the streets of Pakistan's cities earlier this month, calling for the death of Asia Bibi. Key among those baying for the army and prime minister Imran Khan to be overthrown and for the ultimate punishment to be visited upon the mother of five children were the clerics Afzal Qadri and Khadim Hussain Rizvi, leaders of the far-right Tehreek-e-Labbaik party.
Both were arrested, along with hundreds of supporters, but it wasn’t just firebrand preachers who were agitating for the execution of Ms Bibi, who had recently been freed from jail by the Supreme Court of Pakistan after her 2010 death sentence for blasphemy was overturned. Several more centrist religious parties also organised demonstrations and large crowds converged on government offices in Islamabad.
Lately, religion is increasingly employed to draw political lines. Once the preserve of underground extremist groups, such as Al Qaeda, this strategy is now being employed by organisations that are more deeply embedded in society, as was exhibited in Pakistan. This raises the following question: do we still look to religious leaders to set an example and to stake out the moral high ground? Or do we look elsewhere?
The most obvious answer might be to defer to secular political leaders, but there we are left in dire straits too. Throughout history, politicians have made extremely dubious moral decisions. Around the world, the far-right is on the rise, from Donald Trump in the United States to Jair Bolsonaro in Brazil and to the Hungarian prime minister Viktor Orban.
In the intellectual arena, we have also seen other public figures – respected analysts and academics – promote the idea that the media cannot be trusted. That in turn has allowed conspiracy theories and polemic diatribes to flourish.
When all of our most trusted institutions are being called into question, what are the alternatives? We see, perhaps, an excellent reminder in the response of British civil society to the Asia Bibi affair. While Australia and Canada offered her refuge, the UK prime minister Theresa May refused to entertain the idea. However, a wide variety of faith-based and secular groups, united in the common cause of decency, have lobbied to change her mind.
In short, just because a person occupies a position of authority – be it spiritual, political or intellectual – does not mean that their ideas are good or their motives pure. However, moderate, moral and brave voices abound around the world. These are the ones we should pay heed to. And spiritual leaders still have a powerful role to play.
We can see this in events much closer to home. In the early stages of the Syrian uprisings, religious leaders took brave steps in standing up to the Assad regime and calling for fundamental rights of the nation’s people to be respected. In Egypt, we saw the same from Emad Effat, the Azhari cleric, who was shot dead in late 2011 during a peaceful sit-in. Others in Libya lost or risked their lives protesting against the regime of Muammar Qaddafi. All of them placed themselves in harm’s way for a greater moral purpose.
Muslim figures have long argued that one should enjoin the good and forbid the wrong. However, this should not be seen as an absolute rule. It comes with its own sub-clauses. One is that such moral interventions should not increase strife or conflict. If that is the likely outcome, then silence is better. In such instances, silence is not an endorsement of tyranny. Rather, it is the only way to avoid further harm. Such silence should also not be partisan. It cannot be ethical to be silent when one’s opponents are being unfairly abused, but then loudly remonstrate when an ally is targeted.
Where injustice and immoral leadership are present, active opposition to uphold the fundamental rights of people should also be pursued. Recently, the region marked the annual remembrance of the passing of Imam Hussein, the grandson of the Prophet Mohammed. Faced with tyranny in his own time, he chose to stand in clear opposition to it – and paid the price for it. As a result, centuries later, Muslims of all persuasions remember his sacrifice and his commitment to principle.
These aren’t principles limited to religious leaders – they apply to us all. Autocrats and authoritarians often adopt the facade of moral or ethical legitimacy while disseminating hateful views or pursuing violent ends. No public figure, whether under the guise of politics or religion, should ever partake in such a charade. There may be good reasons not to visibly oppose those kinds of leaders. Speaking up against the likes of Bashar Al Assad, for example, comes at a significant and substantial cost. But, by the same token, there can be few – if any – good reasons to actively support them.
There remains a need to call for an ethical code in all areas of public life. In an ideal world, we should be able to trust that our leaders act in our best interests and operate within a strong moral framework. That is not always the case, which is why it is important that we make careful choices when deciding who to follow.
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.”
Killing of Qassem Suleimani
THE SPECS
Engine: 3.5-litre V6
Transmission: six-speed manual
Power: 325bhp
Torque: 370Nm
Speed: 0-100km/h 3.9 seconds
Price: Dh230,000
On sale: now
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Election pledges on migration
CDU: "Now is the time to control the German borders and enforce strict border rejections"
SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom"
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
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The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
FIXTURES
December 28
Stan Wawrinka v Pablo Carreno Busta, 5pm
Milos Raonic v Dominic Thiem, no earlier then 7pm
December 29 - semi-finals
Rafael Nadal v Stan Wawrinka / Pablo Carreno Busta, 5pm
Novak Djokovic v Milos Raonic / Dominic Thiem, no earlier then 7pm
December 30
3rd/4th place play-off, 5pm
Final, 7pm
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
Results:
5pm: Handicap (PA) | Dh80,000 | 1,600 metres
Winner: Dasan Da, Saeed Al Mazrooei (jockey), Helal Al Alawi (trainer)
5.30pm: Maiden (PA) | Dh80,000 | 1,600m
Winner: AF Saabah, Tadhg O’Shea, Ernst Oertel
6pm: Handicap (PA) | Dh80,000 | 1,600m
Winner: Mukaram, Pat Cosgrave, Eric Lemartinel
6.30pm: Handicap (PA) | Dh80,000 | 2,200m
Winner: MH Tawag, Richard Mullen, Elise Jeanne
7pm: Wathba Stallions Cup Handicap (PA) | Dh70,000 | 1,400m
Winner: RB Inferno, Fabrice Veron, Ismail Mohammed
7.30pm: Handicap (TB) | Dh100,000 | 1,600m
Winner: Juthoor, Jim Crowley, Erwan Charpy
