AMMAN // The ISIL threat is presenting Jordan with a huge security challenge.
For months, the country maintained a low-profile regarding its participation in the anti-ISIL coalition. Yet, Amman publicly stepped up its role after ISIL’s brutal killing of a Jordanian fighter pilot, with officials vowing to crush the group.
The monarchy must now formulate a longer-term strategy against ISIL, while at the same time juggling domestic challenges.
Past threats to Jordan’s security include a failed coup in 1957, a Palestinian insurrection in the 1970s, and hotel bombings in Amman that killed 57 people in 2005.
However, ISIL is the worst security challenge the country has ever faced, said Hassan Abu Hanieh, an Amman-based expert on Islamic groups.
“Jordan’s involvement in the coalition, bombing ISIL targets, is risky for a vulnerable country with hardly any resources because it exposes it to retaliatory attacks,” said Mr Abu Hanieh.
The monarchy is walking a tightrope as it tries to balance the military campaign with poverty, unemployment, soaring public debts, the influx of Syrian and Iraqi refugees, and cracking down on extremist sympathisers at home.
Adopting political and economic reforms is the only way to prevent future dissent over the war against ISIL, said analysts.
Oudeh Hamaydeh, a former Jordanian intelligence officer, said it was important to address the root causes of extremism “such as corruption and the absence of social and economic justice and the crackdown on freedoms”.
Not addressing the causes of extremism could allow ISIL to attract more followers within the kingdom. A poll conducted last year by the Strategic Centre for Studies at the University of Jordan showed that 10 per cent of Jordanians see ISIL as a legitimate resistance organisation.
There are 2,000 Jordanian militants fighting alongside extremists in Syria and Iraq, according to Mr Abu Hanieh, making Jordan one of the largest exporters of foreign fighters.
“Daesh can ignite sleeper cells to create chaos in Jordan,” he said.
To counter the threat of ISIL appealing to Jordanians, Mr Abu Hanieh said the country’s allies should offer broader economic support and not just military aid.
“This support should be tangible to citizens. The allies should not sit still and wait for Jordan to collapse. They should inject money in the economy to help Jordan before it is too late.”
At the same time, the immediate military campaign will continue, even if there is a question about Jordan’s next steps.
“We have already punished Daesh for the horrendous crime it committed and we relayed the message it would not intimate us,” said Mahmoud Irdaisat, a retired major general and a former director of the Centre for Strategic Studies at the King Abdullah II Academy for Defense Studies.
“But what does the coalition want? We need a clear strategy …. Jordan is part of the coalition but we should not carry the burden ourselves.”
One of five Arab states involved in air strikes against ISIL, Jordan vowed that its revenge for ISIL burning alive fighter pilot Maaz Al Kassasbeh would be “earth shattering” after the group released a video of his death earlier this month.
Jordanian fighter jets continue to bomb ISIL targets in coordination with other coalition forces. On Monday, Emirati F-16 jets based in Jordan attacked oil refineries controlled by ISIL. Bahraini fighter jets arrived in the country on the same day.
Jordan is also contributing to efforts aimed at countering ISIL in Iraq, with military officers from the two countries meeting to discuss coordination.
Lieutenant General Mashal Mohammad Al Zaben, chairman of the Joint Chiefs of Staff of the Jordanian Armed Forces, said on February 11 that Jordan’s armed forces are providing all its capabilities to help the Iraqis in training and arming, according to the state-run Petra News Agency.
The US, which is leading the coalition, is also planning to resupply Jordan with munitions in the coming weeks, which King Abdullah asked for during his recent visit to Washington.
With air strikes alone unlikely to defeat ISIL, observers are debating whether Jordan will commit ground troops to the fight.
“There will be no ground war,” a Jordanian government official said.
Mamoun Abu Nuwar, a retired major general who is now an independent military analyst, said he didn’t expect ground troops to be committed now.
But, he said, Jordan might launch “very limited special operations with other forces from the coalition possibly in Anbar and Al Raqqa,” he said.
foreign.desk@thenational.ae
Inside%20Out%202
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The five types of long-term residential visas
Obed Suhail of ServiceMarket, an online home services marketplace, outlines the five types of long-term residential visas:
Investors:
A 10-year residency visa can be obtained by investors who invest Dh10 million, out of which 60 per cent should not be in real estate. It can be a public investment through a deposit or in a business. Those who invest Dh5 million or more in property are eligible for a five-year residency visa. The invested amount should be completely owned by the investors, not loaned, and retained for at least three years.
Entrepreneurs:
A five-year multiple entry visa is available to entrepreneurs with a previous project worth Dh0.5m or those with the approval of an accredited business incubator in the UAE.
Specialists
Expats with specialised talents, including doctors, specialists, scientists, inventors, and creative individuals working in the field of culture and art are eligible for a 10-year visa, given that they have a valid employment contract in one of these fields in the country.
Outstanding students:
A five-year visa will be granted to outstanding students who have a grade of 95 per cent or higher in a secondary school, or those who graduate with a GPA of 3.75 from a university.
Retirees:
Expats who are at least 55 years old can obtain a five-year retirement visa if they invest Dh2m in property, have savings of Dh1m or more, or have a monthly income of at least Dh20,000.
The specs
Engine: 4.0-litre, twin-turbocharged V8
Transmission: nine-speed automatic
Power: 630bhp
Torque: 900Nm
Price: Dh810,000
The%20specs
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Analysis
Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more
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.”