DUBAI // Women have to show more confidence to shed conservative opinions about the gender’s ability to lead, a senior government official has said.
“Women are an important part of the society,” said Tariq Hilal Lootah, undersecretary of the Ministry of State for Federal National Council Affairs. “Women themselves have to empower women. They have to vote for women.”
He was speaking on Thursday on the sidelines of the National Culture Forum, which discussed the rights and duties of women during the union march of the UAE.
The event was part of the ministry’s efforts to increase political awareness among women and was organised by the Islamic Affairs and Charitable Activities Department in Dubai and the Mohammed bin Rashid School of Government in Dubai to coincide with the 42nd National Day.
The forum had one female speaker among four in total.
Referring to the 2011 FNC elections, Mr Lootah said: “Fifty per cent of the voters in the electoral college are women but only one woman candidate was elected. If women supported women, they would have got more seats.”
Of the 85 female candidates, only Sheikha Eisa Ghanem, from Umm Al Quwain, won one of the 20 elected seats. Six other women were appointed by the Rulers.
This total of seven was lower than in the 2006 elections, when one candidate won and eight others were appointed.
Mr Lootah said women voters should be more trusting of female candidates.
“They [women] get influenced by men. Some feel men can represent women better. Some believe the role of women is in the house as a mother, sister or daughter,” he said.
These conservative views would change over time, he said, especially as women in the UAE enjoyed the same rights as their male counterparts.
“Women, in fact, have more rights. There is definitely no discrimination ... it needs time to change,” Mr Lootah said.
Dr Saeed Al Ghafli, assistant undersecretary for FNC Affairs, said Emirati women had a promising future in politics in the country.
“It is for the people if they want to elect more women, but women will have to organise themselves better,” he said.
“They have to increase their public participation, increase voluntary work and have to be more visible in society. But the future is bright for them in political participation.”
To boost women’s roles in different sectors, the Mohammed bin Rashid School of Government is launching a research project to look at women’s roles at home and in workplaces.
“We are looking at various angles, including maternity leave, attitudes towards education, work and families,” said Ghalia Gargani, acting director of the gender and public policy programme at the school.
“We want to see how women reconcile work and home. Women are outnumbering men in education, they are getting higher grades, but why are they not staying in the workplace?
“Many start and then drop out. Women in the UAE are encouraged to have more children but what are the systems in place to help them return to work?”
Mrs Gargani said the study, which is to be launched within the next two months, will take at least three years to complete.
It will look broadly at how career progression and family formation intersect in the lives of young men and women in the GCC, examine issues of work-life balance and women’s return to work, particularly in the UAE.
It will also explore family-friendly measures that the Government can adopt to address the demographic imbalance more effectively and look into policies related to maternity and paternity-leave laws, childcare services, delayed marriage and changing attitudes about family sizes.
pkannan@thenational.ae
Remaining Fixtures
Wednesday: West Indies v Scotland
Thursday: UAE v Zimbabwe
Friday: Afghanistan v Ireland
Sunday: Final
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.”
Company%20Profile
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
SPECS
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Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
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IF YOU GO
The flights
FlyDubai flies direct from Dubai to Skopje in five hours from Dh1,314 return including taxes. Hourly buses from Skopje to Ohrid take three hours.
The tours
English-speaking guided tours of Ohrid town and the surrounding area are organised by Cultura 365; these cost €90 (Dh386) for a one-day trip including driver and guide and €100 a day (Dh429) for two people.
The hotels
Villa St Sofija in the old town of Ohrid, twin room from $54 (Dh198) a night.
St Naum Monastery, on the lake 30km south of Ohrid town, has updated its pilgrims' quarters into a modern 3-star hotel, with rooms overlooking the monastery courtyard and lake. Double room from $60 (Dh 220) a night.
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
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