Mohammed Mahdi Aked, the leader of the Muslim Brotherhood, may consider extending his term of office
Mohammed Mahdi Aked, the leader of the Muslim Brotherhood, may consider extending his term of office

Akef may stay to lead Muslim Brotherhood



CAIRO // Mohammed Mahdi Akef, the leader of the Muslim Brotherhood, has said he could stay on in his position after his six-year term expires in January, as his banned political party goes through a period of turbulence. Mr Akef had announced in April that he would not extend his leadership past January, despite pleas from senior figures in the group. But in an interview with The National, Mr Akef said he would consider an extension if that were in the group's best interests, though stepping down is still his preference.

"The unity and the interest of the Muslim Brotherhood is above my decision and everything else. I'll exert all efforts to make sure that the group is at its best before I leave in January, and will look into my decision and see if it would be better to extend my stay for a few more months, as my brothers here are asking me to," Mr Akef said. He was sitting at his desk in the Brotherhood's headquarters, which overlook the Nile River in the suburb of Manial el Rouda.

Mr Akef, 81, is the seventh leader of the group, which was established in 1928. Despite being officially banned since 1954, it remains Egypt's strongest and largest opposition group. Were Mr Akef to step down at the end of his term, he would become the first Brotherhood leader to do so; all of his predecessors died while holding the leadership. Mr Akef said his decision is a message to the Brotherhood and to the regime: "Leaders shouldn't stay in power forever."

The Brotherhood has joined the current campaign against the possible transfer of presidential power from Hosni Mubarak to his son Gamal, 45. Mr Akef is widely popular among the varying strands of the Muslim Brotherhood, be they reformist or conservative, young or old. According to Hossam Tamam, an expert on the Muslim Brotherhood who wrote a book about Islamic movements around the world, it has been Mr Akef's leadership that has maintained cohesion in the party.

But, Mr Tamam said, fissures within the group are becoming greater and increasingly visible and may be too much for Mr Akef, who favours reform, to handle. That was evident last month when Mr Akef stormed out of the group's headquarters after several top Brotherhood leaders opposed his proposal to promote Essam el Eryan, a reformist within the group, to the Maktab el Ershad, or the guidance office. The maktab is the Brotherhood's politburo and comprises 21 leaders.

Although Mr Akef has taken a pragmatic approach as Brotherhood leader and directed the group towards participating in the country's political system, more conservative members have become increasingly rigid in their opposition to that. "The shift towards political involvement, which favours pragmatism and flexibility over ambiguity, tenacity and rigidity, worked to expose inherent discrepancies," Mr Tamam said.

Mr Akef is known as a "living martyr" among his cadres for having spent 20 years in prison - a term reduced from a death sentence - for being among the group charged with plotting to kill the then Egyptian president Gamal Abdel Nasser in 1954. Mr Akef was released from prison by Anwar Sadat, Nasser's successor, in 1974. However, political analysts and Mr Akef's followers say his greatest achievement is guiding his party to win 20 per cent of seats in parliament in the 2005 elections. Because the group is officially banned, Brotherhood members run as independents.

The Brotherhood runs and votes in all elections as a matter of principle, but asked if the group will run in the legislative elections next year or presidential elections in 2011, Mr Akef said: "Each election has its own circumstances and decisions. "I didn't take the decision on my own in previous elections, but I consulted with the group's leaders and candidates across Egypt, as they know their constituencies better, and they are the ones who usually bear the brunt of security arrests and imprisonment."

The Brotherhood maintains a strict policy of silence regarding where and when they hold their internal elections, fearing arrests. During their annual conference this month, leaders of the ruling National Democratic Party (NDP) vowed that the Brotherhood would not enter parliament again. The NDP declined to say if President Mubarak, 81, who has been in power since 1981, will run in the 2011 elections.

Mr Akef dismissed the NDP's comments as "propaganda", saying the Brotherhood "plays an important role in Egypt's life, whether in parliament or not". "No one has managed or is able to eliminate us from Egyptian political life, no matter how many they'll arrest. They can't arrest all of us," he said. But he added: "In this despotic state, nobody knows or can predict what will happen tomorrow." The Brotherhood has branches in almost all Arab and Islamic countries.

Abdel Hamid el Ghazali, a senior Brotherhood member and adviser to Mr Akef, said it was imperative he extend his term. "The coming period will be very tough in light of the upcoming legislative and presidential elections, which requires stability inside the group," Mr el Ghazali said. "That is not possible without our guide and leader Akef; we need his experience in these times." However, Mr Akef said his preference was clear: "To leave the leadership and become just one of the group's soldiers." nmagd@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.”

Dr Afridi's warning signs of digital addiction

Spending an excessive amount of time on the phone.

Neglecting personal, social, or academic responsibilities.

Losing interest in other activities or hobbies that were once enjoyed.

Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.

Experiencing sleep disturbances or changes in sleep patterns.

What are the guidelines?

Under 18 months: Avoid screen time altogether, except for video chatting with family.

Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.

Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.

Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.

Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.

Source: American Paediatric Association
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