My battles are easy compared with history



It was the 17th day of Ramadan in the Second year of Hijrah (624 AD) when Prophet Mohammed and his followers found themselves face to face with their greatest opponents, the Quraish of Mecca, in one of Islamic history's first and greatest battles: the Battle of Badr. "Allah had helped you at Badr, when you were a contemptible little force; then fear Allah; thus may you show your gratitude. Remember you said to the Faithful: 'Is it not enough for you that Allah should help you with three thousands angels (specially) sent down?'" (Quran 3: 123-124)

While greatly outnumbered, 300 to 1,000, the Prophet's army was victorious, paving the way for the spread of Islam. The Quran recounts that the Muslim army was reinforced by an invisible army of thousands of angels. While most know about this battle and its historic impact, few remember that it actually took place during Prophet Mohammad's first Ramadan. Having stepped over and slipped on scattered sticky date seeds inside Masjid al Haram - Mecca's Grand Mosque - after tens of thousands of worshippers had broken their fast on dates and I had yet to do so, I ended up fuming all the way back to my spot on a prayer carpet on the ground next to my friend. She gently reminded me to "take it easy", adding that I was lucky that the size of the obstacles thrown in my path that day were only tiny date seeds.

Pulling a foldable fan out of her purse, she brushed the seeds to a corner, removing them from our path and that of anyone else on their way to prayer. "See, there is more than one way to remove obstacles in our life," she said. After a wet wipe helped clean off some of the stickiness, she ended up using the same fan to keep us both cool before the next call for prayer. Two years later, and I still remember that day when my friend and I headed to Mecca to break our fast in one of the holiest mosques in the Muslim world. It was one of the most memorable nights of prayer for us. We didn't let anyone or anything interfere with "our private time" with Allah.

These days, whenever I lapse into complaining about a lack of strength after a long and demanding working day, I remind myself that the Prophet and the Muslims before us often had to fight and defend their faith and their families during their Ramadans. I have fasted during 25 Ramadans and have yet to come close to the kind of patience, charity and worship that the Prophet practised during the holy month.

Before, many of the battles were on the fields of war, and it was clear who the winner was. But these days, many of the battles are social and personal, and it is not always clear who the winner is and what it takes to win. These days, before each prayer, I try to refocus and reconnect with my inner self. Slowly, I clear away those noisy layers of stress and issues and make the most of my time with Allah. I have some inner battles to fight, and with Allah's guidance, I hope to win a few this Ramadan.

@Email:rghazal@thenational.ae

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Name: Infinite8

Based: Dubai

Launch year: 2017

Number of employees: 90

Sector: Online gaming industry

Funding: $1.2m from a UAE angel investor

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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.

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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.”

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