Ahmed Al Amash, the Federal National Council member for RAK. Fatima Al Marzooqi / The National
Ahmed Al Amash, the Federal National Council member for RAK. Fatima Al Marzooqi / The National

Strong opinions a hallmark for Ahmed Al Amash



ABU DHABI // Known for his occasionally controversial opinions in the Federal National Council, Ahmed Al Amash said he is only looking out for his “sons and daughters” in the country.

He has previously been criticised for saying unmarried women were unhappy, and men should look into marrying multiple wives.

But despite the criticism, Mr Al Amash said he was looking at issues given to him by society and had to put his social responsibility to good use.

“I wanted to connect with people, I was always linking the citizens with members of the Government and those in important positions. I was raised to do just that. I have many personal initiatives. My presence with the people as a responsible personality in the community, in my opinion, is acceptance from the people,” he said.

“I was encouraged by many people in the community to use my vision and services, on the country’s level as a whole instead of just the local emirate. Owing to my social and national role, and after Sheikh Khalifa bin Zayed enabled the council to serve the citizens and encouraged us nationals to participate, from that point, I decided to nominate myself.”

He said a campaign was “ready-made” for him because of his social connections.

“My campaign was easy, thanks to my family’s support and my loved ones’ presence with me.”

He said he expected he would be elected, because his basic goal was to work with the community and the youth, mainly in strengthening social ties and patriotism.

“In the long run, my aim was to first and foremost serve the citizens. I want to achieve the Government’s visions from a social security and social closeness perspective. My plans were to protect the rights of the citizens and to look out for the community’s interest, through the topics, and my main focus is on the community’s wants and needs.”

He said his concentration is on employment, housing, health, education, culture and national dress.

“I entered the council when I was already a practitioner in collective and social work. The change was limited, but the responsibility increased. Instead of it being a personal responsibility it became compulsory.”

Mr Al Amash said he is in constant communication with the public.

“I have a personal majlis, open office hours and my phone is always ringing,” he said. “I am always busy. People mostly ask me for housing, marriage issues or anything related to the ministers and leaders.”

Citizens’ needs and requirements are a priority, but he said the public is not aware of the time needed for issues to be tackled and changes to be made.

“The urgency that some of the citizens have in expecting results in a certain issue, that affects the council. When the citizens say you are not heard by the Government, that reduces the role of the member. The role of a member in the council is to transfer certain realities or issues of the nationals. We take the issues to the leadership who in turn look after the nationals.

“We need to make sure our issues are dealing with the reality. The topics must depend on the Government’s ability in execution, either through the questions we ask or the discussions we have.

“To execute such topics, we need patience. Citizens expect everything to be rushed, all the laws and amendments, and personally I see that there are many systems and rules that require the members to be patient and the citizen aware, so the changes will be accomplished. Changes cannot be made overnight.”

aalkhoori@thenational.ae

SPECS

Engine: 4-litre V8 twin-turbo
Power: 630hp
Torque: 850Nm
Transmission: 8-speed Tiptronic automatic
Price: From Dh599,000
On sale: Now

Tree of Hell

Starring: Raed Zeno, Hadi Awada, Dr Mohammad Abdalla

Director: Raed Zeno

Rating: 4/5

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The bio

Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.

Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.

Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.

Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.

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.”

The specs

Engine: 3-litre twin-turbo V6

Power: 400hp

Torque: 475Nm

Transmission: 9-speed automatic

Price: From Dh215,900

On sale: Now

The specs

A4 35 TFSI

Engine: 2.0-litre, four-cylinder

Transmission: seven-speed S-tronic automatic

Power: 150bhp

Torque: 270Nm

Price: Dh150,000 (estimate)

On sale: First Q 2020

A4 S4 TDI

Engine: 3.0-litre V6 turbo diesel

Transmission: eight-speed PDK automatic

Power: 350bhp

Torque: 700Nm

Price: Dh165,000 (estimate)

On sale: First Q 2020