AL AIN // Police marching bands, a horse parade and vintage patrol cars welcomed officers, their families and visitors on the first day of the Al Murabba Heritage Festival on Thursday.
An audio-visual presentation of police forces before Union in 1971 was set against the backdrop of the sand-coloured walls of Al Murabba fort as traditional dancers moved to the music.
The aim of the festival is to help the public understand the history of the police.
Sepia-tinted photographs of marching soldiers, special forces in training and servicemen standing guard, framed against dunes, were all part of the history on display.
A mini arsenal of more than 20 pistols, rifles and semi-automatic weapons used by the forces in the 1970s was laid across wooden tables in a newly inaugurated Al Murabba police museum located behind the fort.
“Heritage preservation is a very important goal for the UAE,” said Maj Gen Maktoum Ali Al Shareefi, acting director general of Abu Dhabi Police.
“The nation is very interested in safeguarding the achievements of its ancestors.”
Maj Gen Mohammed Khalfan Al Ramaithi, commander-in-chief of Abu Dhabi Police, said Emiratis know by heart the saying of the UAE’s Founding President, Sheikh Zayed, that “our ancestors have left us a legacy of traditions of which we are proud. Our mission is to preserve and develop this tradition as a valuable asset for the nation and for future generations”.
The Al Murabba fort, with its conical tower and vantage points for shooting, was built in 1948 on orders from Sheikh Zayed. Located in the centre of Al Ain, the fort draws its name from the Arabic “murabba” or square.
It later served as a police station, a watchtower, a jail, a camp for guards and a meeting place for the ruler.
Children holding the hands of their fathers gathered inside the fort on Thursday to watch the horse parade and bands.
The event, organised by Abu Dhabi Police and the Abu Dhabi Tourism and Culture Authority, celebrates the work and historical legacy of the police force through a series of parades, shows, exhibitions and cultural events.
“I liked the horse, the guns,” said Khalifa Al Amri, 9, a Grade 3 pupil with ambitions of joining the police force like his father. “I like to see how the police protected us before.”
“It is very important not to forget anything of the past so the young remember who we were and how things are upgraded in their generation,” said Major Tariq Al Ali, who helped collect mementos – from photographs to police badges – for the festival’s exhibitions.
A family of five visiting from Fujairah said the presence of four relatives in the police force drew them to the festival.
“It is good to learn about our history,” said Shaima Ali, 14, a Grade 10 pupil from Fujairah.
“This will help children be proud of the police force that is protecting my city, my country and my home.”
Police officers said the young people had little knowledge of the force’s history.
“For some of us born in 1970 we have some idea of how our country and people struggled, but the young people have no idea of the effort that was made to build the security of this country,” said Ali, a police officer. “We need to show the young about the past with festivals like this.”
The Al Murabba Heritage Festival runs until Tuesday, September 13 from 5pm until 10pm. Admission is free.
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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.
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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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2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
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