Process time for controversial travel document for UAE Filipinos cut down



ABU DHABI // The Philippine embassy has cut the processing time of a controversial document required by Filipinos travelling to the UAE from five to three days.

The affidavit of support and guarantee is notarised by the Philippine embassy or consulate in the UAE, and shows proof that a relative in the country is financing the trip.

Officials at the embassy said the decision to expedite the release of the document was made to “better serve the Filipino community”.

Notarised documents are readily available from at least 10 travel agencies in Dubai for a hefty Dh300 fee, according to migrant rights group Migrante UAE. However, the affidavits provided are usually fake, and the unauthorised issuing of these documents is illegal under Philippine and UAE laws.

Both the Abu Dhabi embassy and the Dubai consulate have been on the receiving end of complaints from UAE-bound travellers and their relatives. Since August 2010, airport immigration officials in Manila have barred passengers on tourist visas who they suspect are victims of trafficking or illegal recruitment.

The consulate and embassy charge Dh100 for notarising the affidavit, a process that usually takes 10 working days.

Migrante UAE said in August it had evidence that proved staff from the embassy were taking cash in return for blank affidavits, an allegation denied by Grace Princesa, the Philippine ambassador in the UAE, last month.

At the weekend, Manila’s department of foreign affairs issued a statement confirming that the Philippine embassy was not “connected with any person, company or entity that offers or claims to offer facilitation services” to execute the document.

"The personal appearance of the applicant at the embassy or the Philippine consulate in Dubai is required before an affidavit of support and guarantee could be issued," the DFA said.

On Monday, a Filipina travel agent in Dubai insisted the documents she had provided to clients were genuine.

“I don’t think the documents are fake because I’ve issued them to about 200 passengers for the past two months, and they did not have any problems with immigration in Manila,” she said.

She claimed the agency had a “contact” in Abu Dhabi who provides them with affidavits notarised at the Philippine embassy.

“Personal appearance is not required,” said the woman, who works for an Al Rigga-based travel agency.

She charges Dh250 for each affidavit, which is released after two to three days.

“I encourage them to go to the consulate, which charges Dh100,” the agent said. “But they don’t want to wait for 10 days for its release.”

When contacted, Karen Tanedo, the chairwoman of Migrante UAE, said the reduced processing time at the embassy will not stop people from dealing with travel agencies. They would rather pay Dh250 to Dh300 than queue at the consulate or embassy.

“It will not kill the black market,” she said. “The business will continue to flourish even if the embassy decides to release the affidavit in one day.”

rruiz@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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