French interior minister Gerard Collomb says the number of jihadis to have returned to France included 217 adults and 54 minors. AFP / Stephane De Sakutin
French interior minister Gerard Collomb says the number of jihadis to have returned to France included 217 adults and 54 minors. AFP / Stephane De Sakutin

France has seen 271 jihadi militants return, minister says



France has seen 271 jihadi militants return from war zones in Iraq and Syria and all of them are subject to investigation by public prosecutors, the country's interior minister said in a newspaper interview.

Some 700 French nationals are estimated to have fought in ISIL ranks in Iraq and Syria, and like other European countries France has been wrestling with how to handle the flow of so-called returnees.

The number of jihadis to have returned to France included 217 adults and 54 minors, with some of them currently in detention, Gerard Collomb said in an interview with Le Journal du Dimanche.

Asked how many French jihadis had been killed in Iraq and Syria, Mr Collomb told the Sunday newspaper that it was difficult to corroborate information.

The head of France's special forces said in June that his units were directly involved in street battles in the Iraqi city of Mosul but denied they were specifically targeting French-born jihadis fighting for ISIL.

France has participated in a US-led coalition battling ISIL in Iraq, and it also intervened in Mali to push back an Islamist rebellion in the west African state.

French military interventions overseas have exposed it to attack by militants at home. Gunmen and suicide bombers killed 130 people in and around Paris in November 2015 and over 100 were killed in other attacks in France in the past two-and-a-half years.

Mr Collomb said the threat of militant attacks was "very high", citing two incidents targeting police on Paris' Champs Elysees and seven foiled plots so far this year.

An increasing number of people were being flagged under a preventive monitoring system for radicalised behaviour, with more than 18,500 people reported, he said.

France has been subject to state of emergency legislation, giving police extended powers, since the November 2015 attacks, and the government plans to incorporate some of these measures into ordinary law through a counter-terrorism bill to be put before parliament in the coming months.

In numbers: PKK’s money network in Europe

Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010

Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille

Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm

Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year

Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”

Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013 

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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.

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.”