Campaigners calling for an end to the war in Gaza hold a flag promoting Vaz Shabir, an independent candidate in the UK's last general election, in the town centre of Keighley, north-west England. AFP.
Campaigners calling for an end to the war in Gaza hold a flag promoting Vaz Shabir, an independent candidate in the UK's last general election, in the town centre of Keighley, north-west England. AFP.
Campaigners calling for an end to the war in Gaza hold a flag promoting Vaz Shabir, an independent candidate in the UK's last general election, in the town centre of Keighley, north-west England. AFP.
Campaigners calling for an end to the war in Gaza hold a flag promoting Vaz Shabir, an independent candidate in the UK's last general election, in the town centre of Keighley, north-west England. AFP.

Candidates for Muslim Council of Britain leadership supported campaign to undermine Labour at elections


Lemma Shehadi
  • English
  • Arabic

Two candidates who backed a campaign to undermine the Labour Party in the last general election are running to lead the Muslim Council of Britain, an umbrella body representing hundreds of mosques and Muslim charities in the UK.

Successive UK governments have refused to engage with the Muslim Council since 2009. Then Labour prime minister Gordon Brown broke contact with the organisation after their deputy leader signed a letter which ministers said condoned attacks on British forces.

More than 500 mosques, Muslim charities and other related organisations are expected to vote on the new leadership.

The two candidates, Wajid Akhter, a doctor from Essex, and his challenger Mohammed Adrees were vocal supporters of The Muslim Vote, a campaign launched during last year’s general election to mobilise Muslims against Labour.

The campaign said it would endorse alternative candidates who had voted for a ceasefire in Gaza, encouraging British Muslims to vote for them. Labour lost four seats to independent candidates endorsed by the campaign, including Khalid Mahmood, the UK’s longest-standing Muslim MP, and nearly a third of Muslim votes over its stance on Gaza.

Mr Akhter was a leading spokesman for the The Muslim Vote. In a recent interview, he complained that young Muslims prefer to go to night clubs rather than Friday prayers, and spoke of the “battle of ideas” in universities.

“There are more Muslims in the clubs on Friday night than there are in the Jummah prayer. There is a battle for ideas in university, not just degrees. You are part of this battle for ideas and it is up to you which side you are going to fall on,” he said in a recent interview.

Mr Adrees, a Glasgow doctor, leads the Muslim Council of Scotland, which supported the The Muslim Vote.

He travelled to Iran on a delegation in 2017, meeting Iranian officials and the grandson of Ayatollah Khomeini and praying at Khomeini’s shrine. Writing of his trip later, he praised Khomeini as “great leader” who “led the nation to its destiny”. He also wrote approvingly of Iran’s treatment of Sunni and non-Muslim minorities.

The conservative UK think tank Policy Exchange, which published its investigation into the two candidates on Monday, said their views were “deeply disturbing” and urged the new government not to change its policy towards the Muslim Council.

“That the MCB keeps getting it wrong is no accident – it is a design fault, rooted in its ideology. The government rightly refuses to engage with the MCB and this demonstrates why that policy should not change,” said Khalid Mahmood, the defeated Labour MP and a senior fellow at Policy Exchange.

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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Updated: January 06, 2025, 9:56 AM