ABU DHABI // Mothers whose sons have enrolled in national service have been reassured that their time with the Armed Forces will teach them to be independent, committed and healthy.
Brig Gen Sheikh Ahmad bin Tahnoon, chairman of the National and Reserve Service Authority, addressed mothers at the General Women’s Union in a seminar on Monday.
It was organised by Sheikha Fatima bint Mubarak, chairwoman of the union.
Dr Habeeb Al Mulla was worried about the implications of teaching the young how to use firearms.
“Today, the situation is difficult in the Arab region, for example in Syria,” Dr Al Mulla said.
“Why is there an endless war between two groups? Because everyone learnt how to raise a weapon. So, even though this project is very positive, it might be dangerous to put a weapon in the hands of everyone.
“Hopefully, there is a certain strategy to deal with this because you cannot guarantee what might happen.”
Sheikh Ahmad assured the group that teaching the recruits how to use weapons would not lead to civil conflict.
“Don’t forget, the arms will remain with the Armed Forces and conscripts will pass through many security and educational stages,” he said.
“In Syria, the weapons are in the hands of the people to begin with.”
Health, religion and national education will also have a prominent place in the military programme, Sheikh Ahmad said.
“I assure you that this programme will change the psyche of people and their lifestyle, and the way they deal with others,” he said. “I am certain this will happen and you will see this with your children.”
He said that national service would provide job opportunities to locals who were jobless or lacked academic qualifications.
To date, 8,000 have joined in the first round of recruitment and between 5,000 and 6,000 would be enrolled in the second round, which starts on December 17.
Those who fail to sign up face fines ranging from Dh10,000 to Dh50,000, a jail sentence of between one month and a year, or both.
Those who try to avoid service by faking medical conditions or injuring themselves on purpose, would face a minimum sentence of one year and fines of up to Dh100,000.
No student will be allowed to register for university or college before he defines his status with the national service, the seminar was told.
One woman, who works in the Western Region, said there was a lack of examination centres for the service in the area.
Sheikh Ahmad said centres would be set up in Dalma, Ghayathi and Sila’a.
Experts on diet and well-being would be provided at the training camps to ensure all cadets followed a healthy lifestyle, said Dr Mouza Al Shehhi, head of health and sports medicine for the Armed Forces.
“We will be focusing on aspects to do with health, diet, environment, psychology, behaviour, spirituality and social status,” Dr Al Shehhi said.
An added benefit was that the cadets would return to their families and pass on the healthy lifestyle and diet they adopted in the service, she said.
Sheikh Ahmad said the situation was promising after what he had heard from those who attended the seminar.
“The intention of Sheikha Fatima was for us to communicate with mothers and women, and such forums will continue at the General Women’s Union,” he said.
“After what I have seen today, I feel assured.”
Sgt Fathiya Al Jabri, a mother of six, said she was looking forward to her 17-year-old son joining the service.
“He is too messy and uncommitted,” said Sgt Al Jabri, 45. “He does not care about his studies or anything.”
She said she hoped that the service would teach him discipline and responsibility.
hdajani@thenational.ae
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.”
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
The specS: 2018 Toyota Camry
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How to protect yourself when air quality drops
Install an air filter in your home.
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Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
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"
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
Manchester United v Club America
When: Thursday, 9pm Arizona time (Friday UAE, 8am)
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COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
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The biog
Name: Abeer Al Shahi
Emirate: Sharjah – Khor Fakkan
Education: Master’s degree in special education, preparing for a PhD in philosophy.
Favourite activities: Bungee jumping
Favourite quote: “My people and I will not settle for anything less than first place” – Sheikh Mohammed bin Rashid.
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