Balsam Hussein, a 26-year-old TV presenter and former hair-transplant specialist, has been crowned Miss Iraq 2022 at a beauty contest held in Erbil, capital of the northern Kurdish region.
Ms Hussein was among 19 contestants from across the country who were vying for the title and a chance to represent Iraq at the Miss World and Miss Universe events.
“I am highly motivated to participate in Miss World and Miss Universe pageants soon,” she said.
Ms Hussein's win raises her public profile even higher, after starting work in April as host of a morning TV show for a private channel in Baghdad.
Speaking to The National, she said she had been hesitant to take part in the competition but decided to go ahead at the last minute after full support from her family and close friends, as well as from her followers on social media.
“My family have been happy and proud of me throughout my life, but they became happier and prouder when they watched me on TV being crowned Miss Iraq 2022," she said. "I felt sorry that they were not able to come from Baghdad to Erbil as they were ill, but I never felt alone.”
Ms Hussein represented the Al Karakh district of Baghdad, the Iraqi capital where she was born and raised. She worked there as a hair-transplant specialist after training in Turkey before starting her TV job — something she said she had always dreamt of doing.
“I have a dream to improve the media and journalism field in Iraq, and of course, being a winner of Miss Iraq will help me to be closer to achieving that dream,” she said.
For Iraqis faced with uncertainty and instability as political groups squabble over forming a new government nearly 10 months after elections, the Miss Iraq pageant offered a window of hope for the future.
Ayman Hussein, 26, a resident of the southern province of Basra, said Ms Hussein's triumph was "a win for Iraq and Iraqis".
"It is a clear message that, in spite of political chaos, Iraq is able to hold such events," he said. "Whenever there is war, there is life — this is our interpretation of life."
Mr Hussein said he hoped to see Iraqi women take their rightful place in society. "Iraqi women experience hardship their entire life; it is the time to say 'I am here'."
Launched in 1947, the Miss Iraq contest was suspended for more than four decades in 1973 because of political upheaval and wars, and resumed only in 2015.
I would like to send a message to all Iraqi women: do not give up, fight to get your goals, be patient
Balsam Hussein,
Miss Iraq 2022
“From today, I represent all of Iraq," Ms Hussein said. "I would like to send a message to all Iraqi women: do not give up, fight to get your goals, be patient. You have faced wars and difficulties; do not make the harsh conditions a rock in your path — destroy it and keep going until all your dreams are met."
The judges declared Sarah Saad, from Baghdad's Al Rusafa district, as the first runner-up, and Jihan Majid, representing Wasit, as second runner-up. Hind Akram, representing the Baghdad Belt, was the third runner-up, followed by Sarah Khaled from Mosul.
Kareem Rasheed, executive director of the Miss Iraq organisation, said: “Iraq is thirsty for such events like Miss Iraq. Year after year, we will do our best to develop it and make it reach people around the Arab world.
“The contestants represent about 90 per cent of Iraq — we covered the regions of south, middle Euphrates, west and north.
“This year, we decided to rate beauty at 50 per cent and inner essence, such as culture, education and so on, also at 50 per cent, while in years past we were focusing on beauty over essence.
"All women are beautiful and each one has a unique trait that makes her different from others."
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Eoin Morgan (captain), Moeen Ali, Jonny Bairstow, Jake Ball, Sam Billings, Jos Buttler, Tom Curran, Alex Hales, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, David Willey, Chris Woakes, Mark Wood.
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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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NBA Finals results
Game 1: Warriors 124, Cavaliers 114
Game 2: Warriors 122, Cavaliers 103
Game 3: Cavaliers 102, Warriors 110
Game 4: In Cleveland, Sunday (Monday morning UAE)
The specs
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Torque: 230Nm
Transmission: 6-speed automatic
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