Muslim pilgrims arriving for a prayer at Mecca's Grand Mosque (AFP PHOTO / MOHAMMED AL-SHAIKH)
Muslim pilgrims arriving for a prayer at Mecca's Grand Mosque (AFP PHOTO / MOHAMMED AL-SHAIKH)

Comforts could rob Haj of its core value



We’re in the middle of the Haj pilgrimage and Eid means that the pilgrims get a festive pause to reflect on their future.

It’s hard not to get caught up in the excitement. But to be a pilgrim carries practical worries. What is most concerning is the sharp rise in the cost of the once-in-a-lifetime journey. But it was not cheap even before, when there was no modern means of travel.

But gradually it started to become affordable, particularly for Muslims in the developed world, as the community started enjoying more and more affluence.

In fact, so affordable, easy and comfortable has the journey become that it is offering a new experience to many pilgrims. Cynics might describe it as a high-class adventure with a spiritual twist.

I say with great respect that if you can afford to go on Haj, why not stay in one of the best and most comfortable hotels close to the holy sites, including the Kaaba.

After all, even with the greatest of luxuries, the rituals of the pilgrimage are gruelling. The throng of people surrounding the Kaaba can turn a five-minute walk into an hour-long jostle to reach the hallowed sanctuary.

The gruelling journey of a few miles from Arafat to Muzdalifah, and the hot and congested tents of Mina make millions of people extremely tired and exhausted. If some pilgrims can afford the comforts, then we cannot begrudge them.

However, the outcomes of these entirely natural and understandable desires of pilgrims for a comfortable journey and for a wish to live in proximity to the holy sites raise some uncomfortable questions about the changing nature of Haj. Bluntly put, should the rich get a better Haj experience?

But that’s life, isn’t it? Except that the main principles of Haj are its egalitarianism, its blindness to individuals’ financial status, and equality in the quest for the divine.

This is the reason why pilgrims wear the same white clothes. This is the reason why pebbles are collected en route by rich and poor alike. This is also the reason why it is the same devil upon which the rich and the poor cast their hatred.

Unfortunately, Haj today can sometimes seem like a snapshot of wealth. As a result Haj is turning – albeit inadvertently – into an occasion when the consumption of water, electricity food and shopping rises.

These pilgrims are not doing anything wrong – they are benefiting from the best options available to them so that they can focus on their spiritual devotion.

But pan out to the big picture and there is something wrong when we see the rich of the world colonising the shared spiritual resources that should be equally accessible to all.

If our experience of Haj is to be one of rubbing shoulders with diverse communities from across cultures and from every strata of society, then we must ask ourselves how we should recalibrate our Haj experience to ensure it is open and accessible to all.

If we fail to do so, the inevitable consequence will be that poorer pilgrims will simply be priced out of the market.

So only the rich will enjoy all the privileges, which will mean that the main objectives of Haj – equality and togetherness – will not be achieved. That will be a loss for rich and poor alike.

Shelina Zahra Janmohamed is the author of Love in a Headscarf and blogs at www.spirit21.co.uk

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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.

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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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Dubai Police has also issued a list of banned items at the ground on Sunday. These include:
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Checks continue

A High Court judge issued an interim order on Friday suspending a decision by Agriculture Minister Edwin Poots to direct a stop to Brexit agri-food checks at Northern Ireland ports.

Mr Justice Colton said he was making the temporary direction until a judicial review of the minister's unilateral action this week to order a halt to port checks that are required under the Northern Ireland Protocol.

Civil servants have yet to implement the instruction, pending legal clarity on their obligations, and checks are continuing.

 

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The years Ramadan fell in May

1987

1954

1921

1888