ABU DHABI // In commemoration of Founding President Sheikh Zayed's humanitarian legacy across the world on the ninth anniversary of his death, a series of Islamic scholars from Mauritania, Egypt and the UAE recalled the statesman's philanthropic work at Sheikh Zayed Grand Mosque on Sunday night after Taraweeh prayers.
Alongside thousands of Emirati lovers of the Father of Nation, his sons also made their way to the Grand Mosque to pay their glowing tributes to their father.
Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Sheikh Abdullah bin Zayed, Foreign Minister, and Sheikh Saif bin Zayed, Interior Minister, were all present.
On the anniversary of his passing, the General Authority of Islamic Affairs and Endowment (Awqaf) organised a number of lectures at the mosque to commemorate the philanthropic and humanitarian works of late Sheikh Zayed.
The 77-year-old Sheikh Abdullah bin Bayyah, vice president of the International Union of Muslim Scholars, Mauritania, who accompanied Sheikh Zayed in his noble cause for helping the poor, said: "Sheikh Zayed's humanitarian works for orphans, widows, poor are well-known but I feel fortunate that I accompanied with him and witnessed his noble works for the destitute."
He was a far-sighted and visionary person, he added, and humble. "Sheikh Zayed cared for all communities without differentiating in colour, cast or creed," Sheikh Abdullah said.
Zayed Day for Humanitarian Work, originally Emirati Humanitarian Work Day, was conceived by Sheikh Mohammed bin Rashid, Vice President of the UAE and Ruler of Dubai, to coincide with the anniversary of the founding president's death.
"I accompanied Sheikh Zayed when he visited Mauritania. He used to support Islamic activities and used to invite scholars from the country to the Emirates, too," Sheikh Abdullah said.
"I feel pride that I was with him and his humanitarian works continued throughout his life and it was for all. And I am happy to see that the sons of Sheikh Zayed continued his father's similar message of humanitarian works across the world."
He praised Sheikh Zayed's sons, particularly for their work Africa, setting up Islamic institutions.
Under the patronage of Sheikh Mansour, a total of 33 scholars arrived in the UAE to take part in the Programme of Scholars, Guests of Sheikh Khalifa, the President, in Ramadan. They will take part in 984 events across Ramadan.
Dr Mohammed Ibrahim Al Hafnawi, head of Islamic Jurisprudence at the Faculty of Sharia at Azhar University in Cairo, said: "Sheikh Zayed was one of the prominent Islamic personalities.
"We can never forget the UAE's helping hand to its sister countries' different communities.
"I personally have seen these beautiful qualities in Sheikh Zayed, who always thought for others and not even supported people with commodities to lead a good life but imparted them with good education, too."
Each Ramadan, the UAE receives distinguished scholars who deliver lectures in mosques, various community institutions and majlises, as well as to take part in religious and social programmes on local television and radio channels, Dr Al Hafnawi said, adding that the aim is to promote religious awareness and increase spirituality.
In his address, Hamdan Musallam Maktoum Al Mazrouei, Awqaf's chairman, said: "This is the day to remember the humanitarian work of our Father Sheikh Zayed and continue his efforts in the philanthropic activities over the world."
Sheikh Zayed cared for people utmost and built schools, mosques, institutions for them. He will remain in our hearts forever, he added.
Another way of continuing Sheikh Zayed's good work is the annual iftar programme at the Grand Mosque, where thousands of Muslims break the fast at the mosque every day throughout Ramadan.
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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"
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The smuggler
Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple.
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.
Khouli conviction
Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.
For sale
A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.
- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico
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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.
Ticket prices
General admission Dh295 (under-three free)
Buy a four-person Family & Friends ticket and pay for only three tickets, so the fourth family member is free
Buy tickets at: wbworldabudhabi.com/en/tickets
UAE currency: the story behind the money in your pockets
The specs
Engine: 0.8-litre four cylinder
Power: 70bhp
Torque: 66Nm
Transmission: four-speed manual
Price: $1,075 new in 1967, now valued at $40,000
On sale: Models from 1966 to 1970
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%C2%A0profile
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The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
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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.
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.