The world waits for a Muslim voice



This time "the revolution will be televised", to turn Gil Scott-Heron's verse on its head. We've witnessed revolutionary change on our television sets and the expectations are that much more accountability and transparency will be expected of all. As we move beyond our misty-eyed "moment of history" and down to the heady business of sorting out the brash circumstances that confront us, we analyse what this all really means.

As I set about honing in on the thrust of my column this week, I found my own sentiments succinctly laid out by a notable cultural icon. Carlton Douglas Ridenhour, better known to my generation as Chuck D, said this week: "Obama challenges us all." In an amazing introspective shift, he told a BBC forum that if Barack Obama was able to put some of his own "blackness" aside to effect change, "you know he will be putting a number of other affiliations aside for the sake of progress". He went on to identify the inaugural speech as being a "citizens of the world address", going beyond national boundaries to challenge all people to be accountable and responsible.

This will be an administration of firsts as it has been a campaign of firsts. This is the first time that the Muslim world has been addressed so robustly and directly in an inaugural speech. "To the Muslim world," he said, "we seek a new way forward, based on mutual interest and mutual respect." Mr Obama has shown a readiness to move beyond the old ways of American business. The question is - whether or not he follows through - is the Muslim world ready to step up with a new way forward? Can we let go of the hollow diatribes, blaming others for the messy bed we sit in or spineless political manoeuvres? Can we show a face of Islam that is refined, elegant and meaningful, ready to be a part of the 21st century, yet principled and grounded in a rich tradition?

Transparency and clarity are going to be the order of the day. Our postmodern condition, to quote the French philosopher Lyotard, and its egalitarian sensibilities do not permit hidden agendas. It didn't let Cheneyism get away with it and it's certainly not going to let anyone else get by, hedging around a position that they don't want to be forthright about. Just see Mike Huckabee confronted by Jon Stewart on gay marriage. As well-spoken as he is, he couldn't sustain an argument.

Muslims will have to develop positions on issues of relevance that can stand up to scrutiny from every angle. The challenge will be to do that while ensuring substance at the heart of the policy position. It is disingenuous and frankly cowardly to just go with the easy flow. It is how you end up with market meltdowns, Jim Crow, societal obesity and global warming. Allah says: "You may dislike a thing yet it is good for you; and you may desire something that in reality is harmful."

Clarity of message; what do you stand for? What on God's good Earth do you want? Can you say it in five words or less? Do the Muslims have anything significant to contribute to the global conversation? Or are they more like the Maasai people, seeking no more than to hold on to what remains of their land preserves with some semblance of indigenous culture intact; not having much more relevance to anyone other than themselves, the tourist industry and a handful of anthropologists?

Jihad Hashim Brown is director of research at the Tabah Foundation. He delivers the Friday sermon at the Maryam bint Sultan Mosque in Abu Dhabi.

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.

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.”

The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

UAE currency: the story behind the money in your pockets
While you're here
What is Folia?

Prince Khaled bin Alwaleed bin Talal's new plant-based menu will launch at Four Seasons hotels in Dubai this November. A desire to cater to people looking for clean, healthy meals beyond green salad is what inspired Prince Khaled and American celebrity chef Matthew Kenney to create Folia. The word means "from the leaves" in Latin, and the exclusive menu offers fine plant-based cuisine across Four Seasons properties in Los Angeles, Bahrain and, soon, Dubai.

Kenney specialises in vegan cuisine and is the founder of Plant Food Wine and 20 other restaurants worldwide. "I’ve always appreciated Matthew’s work," says the Saudi royal. "He has a singular culinary talent and his approach to plant-based dining is prescient and unrivalled. I was a fan of his long before we established our professional relationship."

Folia first launched at The Four Seasons Hotel Los Angeles at Beverly Hills in July 2018. It is available at the poolside Cabana Restaurant and for in-room dining across the property, as well as in its private event space. The food is vibrant and colourful, full of fresh dishes such as the hearts of palm ceviche with California fruit, vegetables and edible flowers; green hearb tacos filled with roasted squash and king oyster barbacoa; and a savoury coconut cream pie with macadamia crust.

In March 2019, the Folia menu reached Gulf shores, as it was introduced at the Four Seasons Hotel Bahrain Bay, where it is served at the Bay View Lounge. Next, on Tuesday, November 1 – also known as World Vegan Day – it will come to the UAE, to the Four Seasons Resort Dubai at Jumeirah Beach and the Four Seasons DIFC, both properties Prince Khaled has spent "considerable time at and love". 

There are also plans to take Folia to several more locations throughout the Middle East and Europe.

While health-conscious diners will be attracted to the concept, Prince Khaled is careful to stress Folia is "not meant for a specific subset of customers. It is meant for everyone who wants a culinary experience without the negative impact that eating out so often comes with."

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