Majed Al Boom, a medical student, said he was excited to serve his country and felt the compensation would mostly benefit recruits without high school degrees. Satish Kumar / The National
Majed Al Boom, a medical student, said he was excited to serve his country and felt the compensation would mostly benefit recruits without high school degrees. Satish Kumar / The National

Recruits say UAE national service compensation a bonus



ABU DHABI // Aspiring national service recruits have said they see compensation for serving as an added perk after learning how much they would receive this week.
A Federal Decree from the President, Sheikh Khalifa, was announced on Monday and stated that unemployed and self-employed recruits would be paid Dh3,000 a month during their military service.
Khaled Al Shamsi, 21, said any payment was an extra bonus on top of the honour of serving his country.
He had heard from relatives in the military that there was a possibility of mandatory military service before it was officially announced, and immediately warmed to the idea.
"We as Emiratis are low in numbers so it is important to train our population to learn to defend the country against an attack," said Mr Al Shamsi, a mechanical engineering student at the Higher College of Technology in Al Ain.
Mr Al Shamsi said the remuneration would be a big incentive for unemployed Emiratis who are hesitating to sign up.
Tariq Al Kazim, 22, said he was expecting the payment to be a bit higher, but was satisfied with the amount.
"There were a lot of rumours flying around, but in the end I think it's pretty good," said Mr Al Kazim, a student at the New York Film Academy in Abu Dhabi.
Mr Al Kazim, who initially had not been looking forward to it, said he soon realised the many benefits he would attain from military service.
"The money is just a bonus, but I'm looking forward to learning self defence to defend my country, as well as losing weight so I can act in my movies," he said.
The aspiring director and scriptwriter said after serving his nine months he hoped to have saved enough money to shoot two short films, but also to have gained experiences that would benefit him in his profession. "I always wanted to shoot an A-Team style movie so it would be great to learn how to handle weaponry," he said.
Talk on university campus also led Majed Al Boom, a second-year medical student at UAE University, to believe national service salaries would be greater than they are.
"Everyone was saying that it would be challenging but they would pay you well. Regardless, I am excited to serve. It's important because we should know how to defend our country," said the 22-year-old.
Mr Al Boom said the compensation would mostly benefit recruits without high school degrees.
"It's great for them as it will get them into the system, give them more opportunity as well as recognition and respect," he said.
With the announcement that self-employed recruits would receive the same amount as the unemployed, gym owner Saud Al Shamsi, 23, said the amount paid to him was not that important.
"I wasn't even expecting to be paid and I wouldn't mind if I didn't get any money," said Mr Al Shamsi, who opened the Dunes CrossFit gym in 2012. He said that serving the country came first and everything else came second to that.
According to Federal Decree No 117, recruits who continue after their national service has been completed will be paid Dh21,000 a month if they are brigadiers, Dh19,000 if they are lieutenant colonel up to major, Dh17,000 if they are lieutenant up to captain, and Dh15,000 for all other ranks.
Reserve servicemen and employees will receive Dh3,000 a month for serving three months or less, Dh8,000 for service spanning from three to nine months, and Dh15,000 for more than nine months' service.
tsubaihi@thenational.ae

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Ms Yang's top tips for parents new to the UAE
  1. Join parent networks
  2. Look beyond school fees
  3. Keep an open mind
Anxiety and work stress major factors

Anxiety, work stress and social isolation are all factors in the recogised rise in mental health problems.

A study UAE Ministry of Health researchers published in the summer also cited struggles with weight and illnesses as major contributors.

Its authors analysed a dozen separate UAE studies between 2007 and 2017. Prevalence was often higher in university students, women and in people on low incomes.

One showed 28 per cent of female students at a Dubai university reported symptoms linked to depression. Another in Al Ain found 22.2 per cent of students had depressive symptoms - five times the global average.

It said the country has made strides to address mental health problems but said: “Our review highlights the overall prevalence of depressive symptoms and depression, which may long have been overlooked."

Prof Samir Al Adawi, of the department of behavioural medicine at Sultan Qaboos University in Oman, who was not involved in the study but is a recognised expert in the Gulf, said how mental health is discussed varies significantly between cultures and nationalities.

“The problem we have in the Gulf is the cross-cultural differences and how people articulate emotional distress," said Prof Al Adawi. 

“Someone will say that I have physical complaints rather than emotional complaints. This is the major problem with any discussion around depression."

Daniel Bardsley

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.”

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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.

2025 Fifa Club World Cup groups

Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, (Leon banned).

Group E: River Plate, Urawa, Monterrey, Inter Milan.

Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.

Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

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Shubh Mangal Saavdhan
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First Test, Dubai International Stadium

Sun Oct 6 to Thu Oct 11

Second Test, Zayed Stadium, Abu Dhabi

Tue Oct 16 to Sat Oct 20          

 Play starts at 10am each day

 

Teams

 Pakistan

1 Mohammed Hafeez, 2 Imam-ul-Haq, 3 Azhar Ali, 4 Asad Shafiq, 5 Haris Sohail, 6 Babar Azam, 7 Sarfraz Ahmed, 8 Bilal Asif, 9 Yasir Shah, 10, Mohammed Abbas, 11 Wahab Riaz or Mir Hamza

 Australia

1 Usman Khawaja, 2 Aaron Finch, 3 Shaun Marsh, 4 Mitchell Marsh, 5 Travis Head, 6 Marnus Labuschagne, 7 Tim Paine, 8 Mitchell Starc, 9 Peter Siddle, 10 Nathan Lyon, 11 Jon Holland

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1,000 VFX artists

3,000 technicians

10 Concept artists, 25 3D designers

New sound technology, named 4D SRL

 

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