ABU DHABI // A man charged with murdering his girlfriend’s ex-partner said he did not agree to kill someone on her behalf, the Criminal Court heard on Monday.
AB, from Tunis, allegedly stabbed AS, from Egypt, to death after his girlfriend RQ, from Canada, incited him to do so.
She is accused of providing him with a murder weapon, the victim’s personal information and dropping him off at the location of the alleged crime.
“I don’t understand the connection — if we speak logic why would I agree to be incited by her and murder someone I don’t even know, what will I benefit from all this?” argued AB.
“I’m not defending her, but our relationship was only for two months, there was no time for incitement and to commit adultery.”
He denied ever hearing about the victim from RQ.
“Even when police arrested me, it was my first time to visit the murder scene, and the watchman did not recognise [me], I request you ask all of the tenant if they have ever seen me there before.”
Investigators forced him to go back to the scene and re-enact the murder, he added.
“I know myself, I was never there how did they find fingerprints there?”
His lawyer Mohammed Al Khazraji argued that the investigations were not objective as there were people involved who were not questioned.
Since the beginning of the trial, AB has claimed psychological illness, and he presented psychiatric reports to show that he was undergoing treatment.
Defence for RQ, Ali Al Abbadi, said police had no right to monitor her phone calls.
“After police found the first defendant’s fingerprints, police went to arrest him while he was in the car with RQ,” the prosecutor said.
He said that the policeman then took her information and discovered text messages between them, and she was summoned for investigation.
“There were no phone calls recorded, because this is only done with the approval of the attorney general.”
Mr Al Abbadi argued that no translator was present during questioning for his client.
“It was clear during questioning that she spoke fluent Arabic since she is originally an Arab, and therefore did not require a translator,” said the prosecutor.
“We also have her certificate, she studied at Al Rawafed school, and she received a 137 out of 175 in Arabic, I don’t think anyone could score such a grade if they were not fluent.”
RQ argued that she took Arabic as a second language and she only spoke “broken Arabic”.
“When you first came to us in court, didn’t we ask you in Arabic and you gave full answers in Arabic?” challenged chief justice Idris Binmansour.
She said she had been learning Arabic in prison and finished the Quran for the first time in her life.
A verdict will be announced on March 18.
hdajani@thenational.ae
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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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