I must admit that I was sceptical as I approached this week’s White House Summit on Countering Violent Extremism. I was concerned that it might end up being nothing more than a box-ticking exercise. I was troubled that it might be perceived as targeting American Muslims and feeding the sense of suspicion that could result in a spike in hate crimes. I was also wary of the fact that the summit could become a hustle for some social entrepreneurs who were set to spawn a cottage industry as utterly counterproductive as the enterprise created by the so-called “terrorism experts” of a generation ago.
Nevertheless, I went. There were, to be sure, a few hustlers in attendance and there were some sessions that did nothing more than tick boxes. And then there were some Muslims who were convinced that any discussion of Muslims would contribute to more discrimination against their community.
This, however, was not what defined the summit for me, because what I also found at the White House were some remarkable people who were doing extraordinary things in communities around the US.
I had been asked to chair one of the sessions and marvelled at the conversation that ensued. The room was full of good people, all of whom were making a determined effort to build bridges and promote understanding. As we have found so many times before, while the current challenges may have brought out the worst in some, they have also created the opportunity to bring good people together to support each other.
What made the day was the closing address by Barack Obama. Playing multiple roles – teacher, analyst, sympathetic parent and leader – his remarks were pitch perfect.
With the US leading a broad coalition of countries that has been militarily targeting ISIL, Mr Obama was keen to lay out a strategy to take on the ideology the group uses to recruit disaffected alienated youth.
He said the extremists’ ideology must be discredited. The economic and political grievances exploited by the terrorists must be addressed. And partnerships must be developed with Muslim communities so that they can be empowered to challenge the false and dangerous goals posed by extremists.
What the president was making clear was that it is disaffection, anger or alienation that make young people susceptible to the ideas of extremists. But while the purveyors of violence can prey off discontent, they have nothing real to offer. This must be made clear before recruits are seduced and drawn into the extremists’ web.
Mr Obama continued his tough rhetoric against ISIL and was forceful in his resolve that they be defeated. But he also made clear that in targeting violent extremist ideology, the US and the West were not at war with Islam, since this is exactly how ISIL and Al Qaeda want to frame the conflict.
He said: “They are desperate for legitimacy. They try to portray themselves as religious leaders – holy warriors in defence of Islam ... and they propagate the notion that America is at war with Islam. That’s how they recruit ... [but] it is a lie ... They are not religious leaders – they’re terrorists. And we are not at war with Islam.”
Not surprisingly, it was on this last point that the president’s critics pounced. For days now, Republicans and several media analysts have relentlessly attacked him for what he didn’t say.
Apparently, what they wanted Mr Obama to say was that this was a war against Islamic terror or radical Islam. Said one critic, “you can’t win this war, if you can’t name the enemy”. Senator John McCain responded to Mr Obama by accusing him of propagating “a big lie”.
The most strident attack came from former mayor of New York City, Rudy Giuliani, who said, “You’ve got to be able to criticise Islam for the parts of Islam that are wrong ... what’s wrong with this man that he can’t stand up and say there’s a part of Islam that’s sick?” Answering his own question, Mr Giuliani added that the problem with “this man” is that “he doesn’t love America ...[because] he wasn’t brought up ... through love of this country”.
Not only were their criticisms disgraceful and insulting, Mr Giuliani and Mr McCain were also dead wrong. Mr Obama’s message was both tough and smart. He has built a coalition that has mobilised most of the Muslim world, involving them as partners in the fight against violent extremism. He has chosen a path designed to isolate and ultimately destroy what he has referred to as a “death cult”.
On the other hand, if Senator McCain and Mr Giuliani had their way, we would be digging ourselves deeper into the holes dug by George W Bush. We would be in the midst of a “clash of civilisations” and Sarah Palin would be a heartbeat away from the Oval Office. That’s neither smart nor tough. It’s reckless.
James Zogby is the president of the Arab American Institute
On Twitter: @aaiusa
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
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ASHES SCHEDULE
First Test
November 23-27 (The Gabba, Brisbane)
Second Test
December 2-6 (Adelaide Oval, Adelaide)
Third Test
December 14-18 (Waca Ground, Perth)
Fourth Test
December 26-30 (Melbourne Cricket Ground, Melbourne)
Fifth Test
January 4-8, 2018 (Sydney Cricket Ground, Sydney)
KILLING OF QASSEM SULEIMANI
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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
Poland Statement
All people fleeing from Ukraine before the armed conflict are allowed to enter Poland. Our country shelters every person whose life is in danger - regardless of their nationality.
The dominant group of refugees in Poland are citizens of Ukraine, but among the people checked by the Border Guard are also citizens of the USA, Nigeria, India, Georgia and other countries.
All persons admitted to Poland are verified by the Border Guard. In relation to those who are in doubt, e.g. do not have documents, Border Guard officers apply appropriate checking procedures.
No person who has received refuge in Poland will be sent back to a country torn by war.
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.”
Abu Dhabi Sustainability Week
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
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Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
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Bookshops: A Reader's History by Jorge Carrión (translated from the Spanish by Peter Bush),
Biblioasis
A Long Way Home by Peter Carey
Faber & Faber
Background: Chemical Weapons
