Latest news with #Ma'an
Khaleej Times
9 hours ago
- Business
- Khaleej Times
Why the world's wealth is flowing into the UAE, and what that means for the next generation
One day in her hometown of Mumbai, Nazneen Abbas responded to an ad that simply asked, 'Are you looking for a career?' When she discovered it was for insurance, she nearly walked right back out. But she held on — and joined the personal accident division at Alico - which is now MetLife - and eventually grew to lead the department's direct sales. 'From someone who lacked confidence and had no background in insurance, I found myself heading a unit, managing teams, and later moving into broader financial planning,' she told Khaleej Times in an interview. The came her life's biggest tragedy — the demise of her husband, when she was barely in her 30s. 'After I lost my husband, everything changed. I had come from a well-established family in Bombay. Yet when he passed, there were no clear structures in place. No succession plans, no defined paths for his children. That's when I realised how important it is to plan for the legacy that follows,' she said. That chapter shaped her belief that legacy planning needs to stretch beyond a legal checklist and reflect the lives, values, and aspirations of those it's meant to protect. Ma'an was built on that belief. Ma'an is an intergenerational financial planning platform shaped by expert professional insight and her own personal experiences. With over four decades in financial advisory, Nazneen has worked at the intersection of wealth, legacy, and family dynamics, but it was her own life that gave this work its deeper meaning. Today, the platform serves families from diverse social and economic backgrounds including high networth individuals and businesses spanning across the Gulf. Excerpts from an interview: Many of the UAE's first-generation founders are now in their 70s and 80s. What distinct emotional or operational challenges arise as they begin preparing for the transition of leadership and legacy? The emotional hurdle is often bigger than the legal or operational one. Many first-generation founders who built their businesses from the ground up find it hard to even think about letting go. Their identity is deeply tied to the business, so stepping back can feel like letting a part of themselves go. On the operational front, structural baggage is a common challenge. A lot of these businesses grew organically, without formal structures or governance. That makes it harder to hand over the reins smoothly. Often, there's little clarity around roles, responsibilities, or the long-term vision among the next generation. Add to that the different leadership styles and perspectives between generations, and what's really needed is a mix of emotional mediation and very granular, careful planning. Over 60 per cent of private companies in the UAE are family-owned, according to the Ministry of Economy. Given that, and the rise of single-family offices and new DIFC initiatives, are families now approaching governance and succession planning with more structure? Yes, there's definitely a shift and it is picking up pace. Family offices today are going beyond just managing investments and into broader territory like governance, education, and even resolving family disagreements. There's a growing sentiment that separating ownership from day-to-day management is key to keeping both the business and the family strong for the long haul. We're seeing more families set up formal boards, bring in external advisors, and adopt tools like Family Constitutions and Business Charters to clearly define roles for the next generation. DIFC Foundations are also being used to create clear boundaries between ownership and control. New regulations, such as the DIFC Family Arrangements Regulations, and programs that certify good practices are also helping nudge families toward a more thoughtful and future-ready approach to succession planning. Global families are redomiciling trusts and foundations from traditional hubs like Jersey or Switzerland to the DIFC. Beyond tax advantages, what makes the UAE - and Dubai in particular - feel like a jurisdiction of 'emotional safety' for them? For many global families, it's where East meets West - a place where cultural familiarity, legal certainty, and a high quality of life come together. Families from the Middle East, South Asia, and Africa often feel more culturally at home here than in traditional Western jurisdictions. There's also a strong sense of discretion and privacy, which many families appreciate. Politically, the UAE's neutral stance on global matters and its progressive legal updates offer peace of mind, especially for those navigating complex cross-border situations. The DIFC's English-language courts, common law structure, and recognition of personal wishes in matters like inheritance provide a sense of legal comfort as well. In essence, Dubai is well put together on a lot of different aspects and all that combines to create a default sense of comfort. The introduction of DIFC Foundations in 2018 marked a turning point for regional wealth structuring. How are global families using these vehicles when their assets and heirs span multiple jurisdictions with often conflicting legal regimes? For many global families, DIFC Foundations are becoming the central hub in their estate planning. They help consolidate control - especially when heirs live in regions governed by Shariah. These foundations can hold everything from international businesses to offshore investments, all under one umbrella. Families can also tailor governance rules and decide how and when beneficiaries receive their share. One of the biggest advantages is continuity - they help avoid lengthy probate processes and prevent the estate from getting fragmented across different legal systems. Some families even pair them with trusts or private funds to add more flexibility. Much of the wealth being transitioned is tied up in illiquid assets like land banks, real estate, or operating businesses. Are you seeing next-gen heirs in the UAE leaning more toward diversified portfolios - tech, venture, or impact-driven investments? The next generation of heirs is definitely thinking differently. Many have studied or lived abroad, so they're more familiar with modern investment strategies and ESG (Environmental, Social, and Governance) principles. There's a deliberate push towards diversification, not just in terms of asset types, but also across regions and long-term goals. Many next-gen leaders want their investments to reflect both purpose and performance. That said, traditional assets like real estate still matter, although families are increasingly looking at ways to restructure or leverage them to unlock liquidity for more flexible, forward-looking investments. The post-2022 influx of UHNWIs from Russia, India, and parts of Africa has reshaped private wealth in the UAE. How has this wave of migration changed the complexity, or even the structure, of estate planning requests you're now seeing? These families often have assets and heirs spread across several countries, each with its own legal and tax rules. So there is a growing niche of multi-layered structures, blending things like DIFC foundations, offshore trusts, holding companies, and even dual wills to make everything work together. So estate planning today goes far beyond just deciding who gets what. We're also seeing more families setting up their first family office here in the UAE, and they're looking for guidance that brings everything together - wealth, values, philanthropy, education, and legacy. There's a bigger need for advisors who not only understand global structures but also speak the language - literally and culturally - of the families they support. How is the region's role in estate and legacy planning changing? Is it becoming a long-term home base rather than just a structuring hub? It's becoming a true long-term home base. Families are increasingly putting down roots by educating their children, hiring trusted advisors, and building legacy plans that stretch across generations. With recent updates to personal status laws, the introduction of corporate tax, and a growing family office ecosystem, Dubai is shaping up to be a place where families can meaningfully live, grow, and plan for the future. Residency reforms, tax advantages, progressive legal tools, world-class infrastructure, a strong lifestyle offering, and global connectivity - the UAE has certainly made the decision for long-term roots much easier for global families in this decade. And the numbers will only grow from here.
Al Bawaba
16-07-2025
- Al Bawaba
Remains of 15 people found inside a well in Syria
Published July 16th, 2025 - 07:23 GMT ALBAWABA - The Public Prosecution Office in Hama Governorate, Syria, announced the discovery of the remains of 15 people, including a woman and a child, inside a well in the town of Ma'an in the northeastern Hama countryside. Syrian SANA news agency revealed that the remains are believed to have been killed in a massacre committed in 2013. Hama's Attorney General, Judge Ayman al-Othman, explained in a press statement that the incoming report prompted the relevant authorities to immediately head to the site, accompanied by teams from the Internal Security Forces, the Forensic Medicine Department, and the Civil Defense. — الوكالة العربية السورية للأنباء - سانا (@Sana__gov) July 15, 2025 The remains were recovered and transferred to the Forensic Medicine Center for the necessary tests and analyses to accurately determine identities and complete legal procedures. He affirmed that the Public Prosecution is committed to pursuing those responsible for these crimes and bringing them to justice, emphasizing that this crime represents one of the most horrific violations the region has witnessed. © 2000 - 2025 Al Bawaba (
Daily Tribune
14-07-2025
- Science
- Daily Tribune
Bahrain Official Honors "Ma'an" Team for Global Research Achievements
His Excellency Shaikh Hisham bin Abdulrahman Al Khalifa, Undersecretary of the Ministry of Interior for Nationality, Passports, and Residence Affairs and Chairman of the Anti-Violence and Addiction Committee, received members of the "Ma'an" Regional Centre for Research and Training in a special ceremony on Sunday. The visit recognized the outstanding efforts of Mr. Ali Ahmed Amini, Director of Crime Prevention and the "Ma'an" Program, Dr. Khawla Hazim Al Shamsi, and the research team, for their remarkable contributions in representing Bahrain in regional and international scientific forums. The team had also secured top positions in prestigious research competitions. Shaikh Hisham praised the team's dedication and the impact of their scientific work in supporting community safety. He noted that such achievements reflect the advanced and progressive image of Bahrain's police force and help strengthen its presence on global academic platforms. He also presented awards to the team members, commending the leading role played by the Ma'an Centre in developing research in security and social fields. He emphasized the importance of such studies in informing policy decisions and fostering institutional collaboration in security research. Looking ahead, Shaikh Hisham called for the expansion of similar initiatives and proposed the creation of a scientific journal to document ongoing cooperation between security agencies and academic institutions. He stressed that adhering to international standards in this work would further advance Bahrain's security system and promote sustainable partnerships in specialized research.
UAE Moments
08-07-2025
- Politics
- UAE Moments
Israeli Forces Detain Veteran Journalist in West Bank
Israeli forces have detained Nasser Laham, a prominent Palestinian journalist, during an overnight raid in Al Duha, near Bethlehem. According to local media, the raid damaged his home. Laham is the editor-in-chief of Ma'an news agency and heads the West Bank operations for Lebanon's Al Mayadeen channel. He is expected to face a military court hearing on Thursday. Part of Ongoing Crackdown on Journalists Laham's arrest comes amid an ongoing Israeli crackdown on Palestinian journalists, which intensified after the Gaza war began in 2023. Rights groups and press freedom advocates have condemned these arrests, saying they endanger journalists' safety and freedom of speech. Dozens of Journalists Still Detained According to Wafa news agency, 55 Palestinian journalists are currently held in Israeli prisons, with 49 arrested since the Gaza conflict started. Other cases include journalist Ali Al Samoudi, who remains in detention and is reportedly not receiving adequate medical care.
The National
07-07-2025
- Politics
- The National
Israeli forces detain veteran Palestinian journalist in occupied West Bank raid
Israeli forces detained veteran Palestinian journalist Nasser Laham in the occupied West Bank on Monday, the Ma'an news agency reported. He was detained overnight in the village of Al Duha, near Bethlehem, in a raid that caused damage to his house, the agency added. Mr Laham is editor-in-chief of Ma'an and also manages the West Bank operation of Lebanon's Al Mayadeen channel. He is expected to appear in front of a military court on Thursday, the Wafa news agency reported. The Israeli military said in a statement on Monday that soldiers "apprehended a wanted individual in Bethlehem. The wanted individual was transferred to the Israel police for further processing". Mr Laham's detention is the latest episode in Israel's crackdown on journalists in the occupied West Bank, which has accelerated since the start of the Gaza war in 2023. The death of journalist Shireen Abu Akleh by an Israeli soldier during a raid in Jenin in 2022 sparked widespread condemnation of Israel's actions in Palestine, as well as calls for journalists to be protected. Al Quds newspaper reporter Ali Al Samoudi, who has also worked for international outlets including CNN and Reuters, remains in detention after being held by the Israeli military during a raid in the West Bank city. His family and legal team say he is not being given sufficient medication to manage severe health conditions. Israel's military said he was 'identified with the Islamic Jihad' militant group. Fifty-five Palestinian journalists are being held in Israeli prisons, 49 of whom have been detained since the Gaza war began, Wafa said. Israel banned Qatari outlet Al Jazeera from operating in the country last year, saying its broadcasts endangered national security. The Palestinian Authority, which governs parts of the West Bank, banned the network in January, but the measure was lifted by Palestinian President Mahmoud Abbas in May.
