Speaker rejects claims of abuse against vote detainees



TEHRAN // The speaker of Iran's parliament today rejected as "baseless" an opposition leader's accusation that moderates had been raped in jail following their detention in unrest linked to June's disputed presidential poll. "Based on parliament's investigations, detainees have not been raped or sexually abused in Iran's Kahrizak and Evin prisons. Such claims are totally baseless," Iran's state television quoted Ali Larijani as saying.

Mehdi Karoubi, a defeated moderate candidate, said some protesters, both men and women, had been raped in prison. Many of the post-election detainees were held in south Tehran's Kahrizak prison, built to house people breaching vice laws. At least three people died in custody there. A committee set up by Mr Karoubi and Mir Hossein Mousavi to pursue the issue submitted a list of 69 people killed in protests to parliament on Monday. The list contradicted the official figure of 26 deaths.

Mohsen Rezaie, the defeated conservative presidential candidate, said officials in charge should be put on trial. "If reports about the mistreatment and abuses of detainees and protesters are proved, all officials in charge should at least be sacked and tried in court," Mr Rezaie was quoted by the semi-official ILNA news agency as saying. "And a day of national mourning should be declared." Amnesty International urged Iran to allow international observers to monitor the trials of more than 100 people accused of involvement in the protests that followed the election.

"The trial now going on in Tehran appears to be nothing but a show trial through which the supreme leader and those around him seek to de-legitimise recent mass and largely peaceful protests and convince a very sceptical world that Mahmoud Ahmadinejad was re-elected fairly for a second term as president," said Irene Khan, Amnesty's secretary general. Washington, its European allies and leading Iranian reformers have rejected the mass trials as a "show".

The fallout from the post-election unrest further cloud prospects of Iran accepting US President Barack Obama's offer of direct talks on Iran's nuclear programme. In the second mass trial to open within a week, on Saturday a court charged a French woman, two Iranian staffers at the British and French embassies and dozens of senior moderates with spying and plotting to overthrow clerical rule. The French embassy agreed to provide bail to secure the release of the French woman, the teaching assistant Clotilde Reiss, official news agency IRNA reported yesterday. However, authorities said she would not be allowed to leave the country.

Last month, Supreme Leader Ayatollah Ali Khamenei ordered the closure of the "substandard" detention centre at Kahrizak. Iranian authorities have acknowledged some protesters were tortured there and said its director had been jailed. Mr Larijani called on Mr Karoubi to submit to parliament evidence for his rape allegations. Parliament's reformist minority also asked detainees to report cases of abuse, ILNA reported.

The hardline Kayhan daily urged the judiciary to arrest Mr Karoubi if his charges were proved to be wrong. "If Karoubi cannot prove the allegations then he should be punished without any consideration," said Hossein Shariatmadari, chief editor of the daily, who is appointed by Ayatollah Khamenei. The opposition says the election was rigged, a charge denied by Iranian authorities, including Ayatollah Khamenei, who has accused western powers of fomenting the unrest.

State radio said 215 of Iran's 290 lawmakers urged Mr Ahmadinejad to reconsider ties with the United States, France and Britain for their "interference" in Iran's state matters. The abuse allegations have divided hardline politicians, many of whom backed Mr Ahmadinejad's re-election. A hardline politician said Mr Ahmadinejad was to be blamed for any possible mistreatment in prisons, adding, "If we suppress people we will be destroying the system with our own hands."

"We should investigate crimes against detainees and the key responsibility is with two people: the president and the judiciary chief," said Ahmad Tavakkoli, who supported Mr Ahmadinejad's first-term presidency, Iranian media reported. Another hardline politician criticised harsh methods used by security forces over the unrest. Some 4,000 people were arrested and at least 200 people remain in jail, including activists, senior moderate politicians, lawyers and journalists.

"Some extreme measures were taken by security forces when dealing with protesters," Ali Motahari told the Etemad-e Melli newspaper. * Reuters

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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.”

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Creator: Mike White

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Rating: 4.5/5