Boycott of Kimberley Process does nothing for Africa



A wise man once said “to jaw-jaw is always better than to war-war”, meaning negotiation was infinitely preferable to destructive confrontation. The leaders of the Civil Society Coalition, the organisation that aims to protect the rights of diamond workers and their dependents in the multibillion dollar gems trade, should take that adage to heart.

For the past year, CSC has been boycotting the UAE’s chairmanship of the Kimberley Process, the institution set up to bring order to the international trade in the precious stones and in particular to prevent “blood diamonds” – gems that originate in areas of civil conflict – from entering the global market.

Specifically, the boycott has meant 11 African non-governmental organisations have not taken part in meetings in Dubai and elsewhere that discussed crucial matters: readmission of certain countries to the trade; valuation mechanisms for rough diamonds; and the challenge from synthetic gems. These issues affect the lives of millions of Africans, but their voices have not been heard.

Earlier this week, the designated KP representative of one of the 11 – an NGO from the Democratic Republic of Congo – decided it was time to end this blinkered attitude and told the UAE he was going to take up the offer to attend the big event of the year, the KP Plenary meeting in Dubai next month.

Surely it is time for others to follow.

The CSC is a key part of the diamond business, recognised as one of the three KP “pillars” when that organisation was set up, along with producing countries and corporates. But it appears to have fallen under the influence of one particular organisation – the Partnership Africa Canada (Pac) – which insists on enforcing the boycott.

When the UAE was awarded the chairmanship of KP – in recognition of Dubai’s growing importance as a diamond trading centre – it was referred to as the “elephant in the room”, its chairmanship declared a “red line”, and its ethical standards denigrated.

Despite this the KP chairman, in the person of Ahmed bin Sulayem, the chairman of the Dubai Multi Commodities Centre, which is home to the emirate’s diamond exchange, insisted his door was open to CSC members, who he invited to attend KP functions. Pac turned its back and sulked.

Mr bin Sulayem stepped up the pace of reform within the KP. To date, he has visited 12 African countries; started the process to bring Venezuela and Central African Republic back as diamond exporters; and launched initiatives aimed at getting a valuation standard for rough diamonds, the issue at the heart of Pac’s grievances regarding Dubai.

“The world needs to do better for Africa,” he said last week, announcing another initiative to put the KP under United Nations auspices.

The boycott has done nothing better for Africa at all. It freezes the continent out of the KP process. It robs civil society of a voice in the most important chambers of the diamond industry. It harms the very people civil society is supposed to defend.

The other members of the CSC – including Pac – should urgently rethink their pointless and self-destructive boycott.

fkane@thenational.ae

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UAE currency: the story behind the money in your pockets

Babumoshai Bandookbaaz

Director: Kushan Nandy

Starring: Nawazuddin Siddiqui, Bidita Bag, Jatin Goswami

Three stars

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Profile

Name: Carzaty

Founders: Marwan Chaar and Hassan Jaffar

Launched: 2017

Employees: 22

Based: Dubai and Muscat

Sector: Automobile retail

Funding to date: $5.5 million

BEETLEJUICE BEETLEJUICE

Starring: Winona Ryder, Michael Keaton, Jenny Ortega

Director: Tim Burton

Rating: 3/5

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Key changes

Commission caps

For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:

• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term). 

• On the protection component, there is a cap  of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).

• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated. 

• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.

• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.

Disclosure

Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.

“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”

Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.

Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.

“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.

Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.

Virtuzone GCC Sixes

Date and venue Friday and Saturday, ICC Academy, Dubai Sports City

Time Matches start at 9am

Groups

A Blighty Ducks, Darjeeling Colts, Darjeeling Social, Dubai Wombats; B Darjeeling Veterans, Kuwait Casuals, Loose Cannons, Savannah Lions; Awali Taverners, Darjeeling, Dromedary, Darjeeling Good Eggs

RESULTS

1.45pm: Maiden Dh75,000 1,200m
Winner: Lady Parma, Richard Mullen (jockey), Satish Seemar (trainer).
2.15pm: Maiden Dh75,000 1,200m
Winner: Tabernas, Connor Beasley, Ahmed bin Harmash.
2.45pm: Handicap Dh95,000 1,200m
Winner: Night Castle, Connor Beasley, Satish Seemar.
3.15pm: Handicap Dh120,000 1,400m
Winner: Mystique Moon, Sam Hitchcott, Doug Watson.
3.45pm: Handicap Dh80,000 1,400m
Winner: Mutawakked, Szczepan Mazur, Musabah Al Muhairi.
4.15pm: Handicap Dh90,000 1,800m
Winner: Tafaakhor, Sandro Paiva, Ali Rashid Al Raihe.
4.45pm: Handicap Dh80,000 1,950m
Winner: Cranesbill, Fabrice Veron, Erwan Charpy.

11 cabbie-recommended restaurants and dishes to try in Abu Dhabi

Iqbal Restaurant behind Wendy’s on Hamdan Street for the chicken karahi (Dh14)

Pathemari in Navy Gate for prawn biryani (from Dh12 to Dh35)

Abu Al Nasar near Abu Dhabi Mall, for biryani (from Dh12 to Dh20)

Bonna Annee at Navy Gate for Ethiopian food (the Bonna Annee special costs Dh42 and comes with a mix of six house stews – key wet, minchet abesh, kekel, meser be sega, tibs fir fir and shiro).

Al Habasha in Tanker Mai for Ethiopian food (tibs, a hearty stew with meat, is a popular dish; here it costs Dh36.75 for lamb and beef versions)

Himalayan Restaurant in Mussaffa for Nepalese (the momos and chowmein noodles are best-selling items, and go for between Dh14 and Dh20)

Makalu in Mussaffa for Nepalese (get the chicken curry or chicken fry for Dh11)

Al Shaheen Cafeteria near Guardian Towers for a quick morning bite, especially the egg sandwich in paratha (Dh3.50)

Pinky Food Restaurant in Tanker Mai for tilapia

Tasty Zone for Nepalese-style noodles (Dh15)

Ibrahimi for Pakistani food (a quarter chicken tikka with roti costs Dh16)

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At a glance - Zayed Sustainability Prize 2020

Launched: 2008

Categories: Health, energy, water, food, global high schools

Prize: Dh2.2 million (Dh360,000 for global high schools category)

Winners’ announcement: Monday, January 13

 

Impact in numbers

335 million people positively impacted by projects

430,000 jobs created

10 million people given access to clean and affordable drinking water

50 million homes powered by renewable energy

6.5 billion litres of water saved

26 million school children given solar lighting

Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
Director: Venkat Prabhu
Rating: 2/5

The Great Derangement: Climate Change and the Unthinkable
Amitav Ghosh, University of Chicago Press

The specs: 2018 Audi Q5/SQ5

Price, base: Dh183,900 / Dh249,000
Engine: 2.0L, turbocharged in-line four-cylinder /  3.0L, turbocharged V6
Gearbox: Seven-speed automatic / Eight-speed automatic
Power: 252hp @ 5,000rpm / 354hp @ 5,400rpm
Torque: 370Nm @ 1,600rpm / 500Nm @ 1,370rpm
Fuel economy: combined 7.2L / 100km / 8.3L / 100km

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Starring: Kareena Kapoor Khan, Ash Tandon, Prabhleen Sandhu

Director: Hansal Mehta

Rating: 4 / 5

At Eternity’s Gate

Director: Julian Schnabel

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Three stars