Reza Pahlavi, the son of the last Shah of Iran and the scion of Persia's 2,500-year-old monarchy, believes his country's people are writing a new future for themselves, and perhaps for himself. With the country on edge after 10 days of protests that have seen tens of protesters killed and up to 3,700 people arrested, the 57-year-old former crown prince genuinely believes that his homeland can overthrow the regime installed by the 1979 Islamic revolution.
“We all know that regime change is the ultimate formula,” said Mr Pahlavi, a harsh critic of the clerical rulers who have dominated Iran over the last four decades. “But that’s what the Iranian people are asking. It’s not going to be because the US says so, or the British say so, or the Saudis say so, or the Israelis say so. It’s because it’s what the Iranian people want.”
For Pahlavi, who advocates replacing Tehran’s theocracy with a pluralist, parliamentary democracy, the demonstrations that have rocked cities across Iran the last two weeks are not about egg prices, unemployment or economic opportunity. They are about the nation’s greater grievance with its entire political system.
In an interview with The Associated Press, Mr Pahlavi cast the current discontent as more threatening to the Islamic Republic’s survival than the violence that followed disputed elections in 2009 — when Iranians clashed over the direction of a government that would in any scenario be undemocratic and corrupt, and opposed to human rights and the separation of state and religion.
“The time has really come for a massive coalition,” Mr Pahlavi told the AP in Washington, where he says he is trying to help Iranian activists, human rights advocates, union leaders, journalists and students pull in a broader pool of citizens in defiance of Ayatollah Ali Khamenei, Iran’s supreme leader, and the clerics and officials comprising the country’s ruling establishment.
“These are usurpers that have invaded the country, taken us hostage and we shall get our country back. Today is the time,” he declared, describing his part — at least for now — as carrying the flag of the protesters’ cause with Western countries like the United States to intensify their responses and consider new sanctions on Iran’s leaders and their assets.
Some protesters have called for the government's overthrow, and videos show some vocal support for Mr Pahlavi, who left Iran at 17 for military flight school in the United States just before his cancer-stricken father Mohammad Reza Pahlavi abandoned the throne for exile. Revolution meant neither Pahlavi ever returned.
It has been the ubiquity, more so than intensity, of the protests that have surprised many observers. Whereas millions flooded Tehran’s streets after the contested vote last decade that returned hardliner Mahmoud Ahmadinejad to power, the movement this time has been more amorphous and leaderless, but perhaps wider in reach — spreading to more than 80 cities nationwide. In recent days, however, Iranian officials have described the protests as waning.
Mr Pahlavi is staying abreast of developments in Iran through what his aides describe as a vast network of contacts, inside and outside of the government, that he has maintained for decades. An equally important source has been normal Iranians reaching out to him directly via social media.
But he may not be the credible voice for change in a country that he has not seen in 38 years. Iranian officials accuse him of exploiting the instability to advance his personal aspirations for power in a part of the world replete with cautionary tales about long-estranged exiles believing they know what’s best for their homelands. And Mr Pahlavi’s father was hardly a paragon of democracy, ruling lavishly and repressively, and benefiting from a CIA-supported 1953 coup of Iran’s prime minster.
While many of the young faces in today’s crowds of protesters could not conceivably have been born when the last shah still ruled, Mr Pahlavi believes the support he is seeing in text messages and Telegram files is genuine.
“It is not a matter of coincidence or, if you will, nostalgia,” he said, insisting that a young, scrutinising Iranian generation is expressing “rapport” with his message of inclusion, and rejecting the Islamic Republic’s “brainwashing” and exclusion.
He outlined a vision of how to achieve democratic change: Intensifying “the struggle” until Iran’s government implodes; initiating a transition process; holding popular elections for a constitutional assembly; enshrining secularism and democracy; free and fair voting for a first parliament and government.
But these are broad ideas that would each entail incredibly difficult processes. For example, Mr Pahlavi said that whatever form Iran’s future government takes, it should offer amnesty to military and paramilitary forces such as those in the Revolutionary Guard Corps so they abandon the camp of Mr Khamenei and other hardliners. Such a promise would not resolve their massive stakes in Iran’s economy, a source of significant popular disgruntlement.
About where he sees himself in the future, Mr Pahlavi said: “I don’t know, to be honest with you. I know what I need to do now.”
"I’ve never been preoccupied with my personal role or destiny,” he said, describing fair elections in Iran as his “only mission in life,” replacing the current votes for presidents and parliamentarians among pre-approved candidates.
“Of course, I stand ready to serve my country,” Pahlavi said, noncommittally. “I have no idea in what capacity it may or may not be. I may end up just being a regular citizen living the rest of my days, or I may be called upon to play a bigger role.”
“Everybody knows that I carry the monarchic heritage. If the country is more ready for a republic, even better. That’s great.”
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
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.
No Shame
Lily Allen
(Parlophone)
My Cat Yugoslavia by Pajtim Statovci
Pushkin Press
Three ways to limit your social media use
Clinical psychologist, Dr Saliha Afridi at The Lighthouse Arabia suggests three easy things you can do every day to cut back on the time you spend online.
1. Put the social media app in a folder on the second or third screen of your phone so it has to remain a conscious decision to open, rather than something your fingers gravitate towards without consideration.
2. Schedule a time to use social media instead of consistently throughout the day. I recommend setting aside certain times of the day or week when you upload pictures or share information.
3. Take a mental snapshot rather than a photo on your phone. Instead of sharing it with your social world, try to absorb the moment, connect with your feeling, experience the moment with all five of your senses. You will have a memory of that moment more vividly and for far longer than if you take a picture of it.
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Opening day UAE Premiership fixtures, Friday, September 22:
- Dubai Sports City Eagles v Dubai Exiles
- Dubai Hurricanes v Abu Dhabi Saracens
- Jebel Ali Dragons v Abu Dhabi Harlequins
North Pole stats
Distance covered: 160km
Temperature: -40°C
Weight of equipment: 45kg
Altitude (metres above sea level): 0
Terrain: Ice rock
South Pole stats
Distance covered: 130km
Temperature: -50°C
Weight of equipment: 50kg
Altitude (metres above sea level): 3,300
Terrain: Flat ice
The 12 breakaway clubs
England
Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur
Italy
AC Milan, Inter Milan, Juventus
Spain
Atletico Madrid, Barcelona, Real Madrid
UAE Premiership
Results
Dubai Exiles 24-28 Jebel Ali Dragons
Abu Dhabi Harlequins 43-27 Dubai Hurricanes
Fixture
Friday, March 29, Abu Dhabi Harlequins v Jebel Ali Dragons, The Sevens, Dubai
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
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
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.”
'Unrivaled: Why America Will Remain the World’s Sole Superpower'
Michael Beckley, Cornell Press
APPLE IPAD MINI (A17 PRO)
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Biometrics: Touch ID, Face ID
Colours: Blue, purple, space grey, starlight
In the box: iPad mini, USB-C cable, 20W USB-C power adapter
Price: From Dh2,099
