Muslim nations attempt to clear Islam's association with terrorism



NEW YORK // One resounding message could be heard loud and clear from leaders of the Islamic world during two days of speeches at United Nations headquarters: "We're not terrorists". In organising his interfaith summit, Saudi Arabia's King Abdullah explicitly stated that terrorism had stained the name of Islam, leaving Muslims no choice but to extend "hands to their brothers in other religions".

Critics have suggested that the interfaith project is a public relations stunt designed to improve Saudi's reputation in the aftermath of the September 11 attacks, orchestrated primarily by hijackers from the desert kingdom. But the association of Islam with terrorism was firmly tackled by delegates from the Islamic world, notably by Jordan's King Abdullah II, who warned of "misinformation and stereotypes? creating fears, suspicions and even hatred".

The Hashemite royal warned that "Islam is being subjected to injustice and accusations arising from ignorance about our religion - Islam calls for moderation and tolerance and eschews extremism, violence and bigotry". Hamid Karzai, Afghanistan's president, described the association of "bigotry, terrorism and extremism" with a faith such as Islam as "failing to grasp the phenomenon in its real nature".

"The terrorism we know is political rather than theological," he told delegates on Wednesday. "The terrorism we know is the historical product of bad politics and the reckless pursuit of narrowly defined interests." Throwing theological weight behind the debate, Muhammad Sayyid Tantawy, the Grand Imam of Al Azhar in Cairo, described terrorism as a "religious and worldly tragedy" which the "wise have agreed to reject".

Analysts argue that despite the memories of September 11 and bombings in Madrid, London and Bali, Arab leaders have as much to fear from terrorism as western governments - pointing to the insurgency in Saudi and attacks on Amman hotels in 2005. While some criticise King Abdullah's interfaith event given the tough restrictions on religious freedom within his realm, others highlight the monarch's nerve in tackling hard-liners at home.

Signalling support for the Saudi monarch, Tony Blair's opinion article in Wednesday's International Herald Tribune described the interfaith seminar as "bold, courageous and potentially far-reaching". The former British prime minister described two competing narratives dominating the Islamic world, the first of which wholly rejects western values and pro-western Arab leaders. While linked to hard-line clerics, extremists and terrorists, the idea appeals to many across the region.

The second narrative, according to Mr Blair, seeks not to replicate western society in the Middle East, but focus on educational and social reform and forge a Muslim identity capable of negotiating with the world of the 21st century. "Saudi Arabia is seen by many as home to those who espouse the first narrative. King Abdullah is showing how his country can and should be part of the second, that of peaceful co-existence," Mr Blair wrote.

"The fact that the country's ruler, with his unique position within the Muslim world, is holding this conference extends an opportunity for the future that we should embrace." jreinl@thenational.ae

The rules on fostering in the UAE

A foster couple or family must:

  • be Muslim, Emirati and be residing in the UAE
  • not be younger than 25 years old
  • not have been convicted of offences or crimes involving moral turpitude
  • be free of infectious diseases or psychological and mental disorders
  • have the ability to support its members and the foster child financially
  • undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
  • A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
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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 

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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Asia Cup 2018 Qualifier

Sunday's results:

  • UAE beat Malaysia by eight wickets
  • Nepal beat Singapore by four wickets
  • Oman v Hong Kong, no result

Tuesday fixtures:

  • Malaysia v Singapore
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  • Nepal v Hong Kong
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The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

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Cryopreservation: A timeline
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