Latest news with #MohammedSalih
The Star
7 hours ago
- Business
- The Star
Sweden to be model for encouraging EU investors
Unlocking funds: A Swedish flag on a boat in Stockholm. The EU is hoping to unleash trillions of euros in household savings in order to lift wealth. — Reuters Brussels: The European Union (EU) wants to unleash trillions of euros in household savings by encouraging people to invest in capital markets – and it sees Sweden as a template of how to do so. Europe is expected to detail its plan this quarter to mobilise citizens' funds sitting in bank deposits as part of its Savings and Investments Union. By making it easier for people to invest, it aims to lift household wealth and boost firms' access to funding. Analysts said it might promote wider adoption of Swedish-style bank accounts that enable people to easily invest savings in stocks. That's as Poland earlier this month proposed an investment savings account modelled on Sweden's InvesteringsSparKonto, or ISK system, to create an 'equity culture' attracting 100 billion zloty or about US$27bil in its first three years. Sweden's retail-trading base is 'among the best in the world' due to the ease by which people been able to invest in listed companies, Philip Scholtze, savings economist at Avanza Bank Holding AB, said. The Nordic nation is regarded as a 'best practice' model, said a spokesperson for the financial services department at the European Commission, the EU's executive arm. The spokesperson added that the bloc aims to provide citizens with 'a wider range of tools and knowledge to invest their savings in ways that can directly benefit their personal economy, while simultaneously turbo-charging the investment landscape in the EU.' Decades of policymaking in the country of about 10 million people has helped make equity investing more akin to a national sport. Swedish households invest over half of their savings in stocks, more than twice the average in the eurozone, according to a report by European Savings Institute this year. Anyone with a bank account can trade, while the ISK account – in place since 2012 – is not subject to capital gains tax. Securities can be easily bought and sold directly from mobile banking applications. 'Swedes have good reason to be thankful for the ISK account,' said Mohammed Salih, a 32-year-old communications manager who lives in Listerby in southern Sweden. He has invested with the system for more than 10 years. 'I have always saved money and tried to build an economically stable future, but I didn't know how to make the money grow.' He started an Instagram account to document his journey toward his goal of growing assets to one million Swedish kronor or about US$105,000. He said he achieved it a few years ago, but still posts stock market tips that attract interest. 'The youngest person who has written to me was 13 years old. His parents had helped him set up an ISK account,' Salih said. The ISK simplified the tax structure around capital investments, removing bureaucratic barriers that had previously discouraged participation. 'It's just a much simpler way to buy stocks,' Frida Bratt, savings economist at Nordnet Bank AB, said. 'This has been especially important for young people.' Almost a quarter of Swedes directly own shares in publicly listed companies, with stakes totalling around 540,000 Swedish kronor on average, according to data from Euroclear Sweden. The most recent available data from the Swedish Investment Fund Association show that about 70% of all Swedes directly invest money in mutual funds. In Britain, only 8% of personal wealth is saved in equities and mutual funds, data from a January review by Aberdeen Group Plc showed. It remains to be seen what effect the introduction of a EU-wide savings and investment account could have on the wider European market. According to Jonas Strom, chief executive of the Nordic investment bank ABG Sundal Collier Holding ASA, it is 'definitely possible' to export the Swedish success with the ISK accounts to a wider European audience. The European Commission would only offer a blueprint of how a EU-wide savings and investment account could be constructed, leaving member states to implement it. The success of the proposal ultimately depends on the 'political will' of the member states, Strom said. — Bloomberg
Irish Examiner
15 hours ago
- Business
- Irish Examiner
EU looks to Sweden as model for investment
The European Union wants to unleash trillions of euro in household savings by encouraging people to invest in capital markets, and it sees Sweden as the template. Europe will soon detail its plan to mobilise citizen funds sitting in bank deposits as part of its savings and investment union. By making it easier for people to invest, it wants to lift household wealth and boost firms' access to funding. According to the Central Bank of Ireland, Irish people have a combined €165.8bn in household deposit savings as of the end of June. Wider adoption of Swedish-style bank accounts would enable people to easily invest savings in stocks. Poland, earlier this month, proposed an investment savings account modelled on Sweden's InvesteringsSparKonto, or ISK system, to create an 'equity culture' attracting the equivalent of €23bn in its first three years. Sweden's retail-trading base is 'among the best in the world' due to the ease with which people have been able to invest in listed companies, Avanza Bank Holding AB savings economist Philip Scholtzé said. The Nordic nation is regarded as a 'best practice' model, said a spokesperson for the financial services department at the European Commission. The bloc aims to provide citizens with 'a wider range of tools and knowledge to invest their savings in ways that can directly benefit their personal economy, while simultaneously turbo-charging the investment landscape in the EU'. National sport Equity investing is akin to a national sport in Sweden. Households invest more than half of their savings in stocks, more than twice the average in the eurozone, according to a report by the European Savings Institute this year. Anyone with a bank account can trade, while the ISK account is not subject to capital gains tax. Securities can be easily bought and sold directly from mobile banking applications. 'Swedes have good reason to be thankful for the ISK account,' said Mohammed Salih, a 32-year-old communications manager who lives in Listerby, Sweden. He has invested with the system for 10 years. I have always saved money and tried to build an economically stable future, but I didn't know how to make the money grow He started an Instagram account to document his journey toward assets equivalent to €90,000. He says he achieved it a few years ago, but still posts stock market tips that attract interest. 'The youngest person who has written to me was 13 years old. His parents had helped him set up an ISK account,' Mr Salih said. The ISK simplified the tax structure around capital investments, removing bureaucratic barriers that had discouraged participation. 'It's just a much simpler way to buy stocks,' Frida Bratt, the savings economist at Nordnet Bank AB, said. 'This has been especially important for young people.' Mutual funds A quarter of Swedes own shares in publicly listed companies, with stakes totalling around €48,000 on average, according to Euroclear Sweden. The Swedish Investment Fund Association shows that 70% of Swedes invest in mutual funds. It remains to be seen what effect the introduction of an EU-wide savings and investment account could have on the wider European market. According to Jonas Strom, the chief executive of the Nordic investment bank ABG Sundal Collier Holding ASA, it is 'definitely possible' to export the Swedish success with the ISK accounts to a wider European audience. The European Commission would only offer a blueprint of how an EU-wide savings and investment account could be constructed, leaving member states to implement it. The success of the proposal depends on the 'political will' of the member states. Bloomberg
Business Times
20 hours ago
- Business
- Business Times
EU sees Sweden as a model as it looks to encourage investors
[BRUSSELS] The European Union wants to unleash trillions of euros in household savings by encouraging people to invest in capital markets – and it sees Sweden as a template of how to do so. Europe is expected to detail its plan this quarter to mobilise citizens' funds sat in bank deposits as part of its Savings and Investments Union. By making it easier for people to invest, it aims to lift household wealth and boost firms' access to funding. Analysts say it might promote wider adoption of Swedish-style bank accounts that enable people to easily invest savings in stocks. That's as Poland earlier this month proposed an investment savings account modelled on Sweden's InvesteringsSparKonto, or ISK system, to create an 'equity culture' attracting US$27 billion in its first three years. Sweden's retail-trading base is 'among the best in the world' due to the ease by which people been able to invest in listed companies, Philip Scholtze, savings economist at Avanza Bank Holding, said. The Nordic nation is regarded as a 'best practice' model, said a spokesperson for the financial services department at the European Commission, the EU's executive arm. The spokesperson added that the bloc aims to provide citizens with 'a wider range of tools and knowledge to invest their savings in ways that can directly benefit their personal economy, while simultaneously turbo-charging the investment landscape in the EU.' Decades of policymaking in the country of about 10 million people has helped make equity investing more akin to a national sport. Swedish households invest over half of their savings in stocks, more than twice the average in the euro area, according to a report by European Savings Institute this year. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Anyone with a bank account can trade, while the ISK account – in place since 2012 – is not subject to capital gains tax. Securities can be easily bought and sold directly from mobile banking applications. 'Swedes have good reason to be thankful for the ISK account,' said Mohammed Salih, a 32 year-old communications manager who lives in Listerby in southern Sweden. He has invested with the system for more than ten years. 'I have always saved money and tried to build an economically stable future, but I didn't know how to make the money grow.' He started an Instagram account to document his journey toward his goal of growing assets to US$105,000. He says he achieved it a few years ago, but still posts stock market tips that attract interest. 'The youngest person who has written to me was 13 years old. His parents had helped him set up an ISK account,' Salih said. The ISK simplified the tax structure around capital investments, removing bureaucratic barriers that had previously discouraged participation. 'It's just a much simpler way to buy stocks,' Frida Bratt, savings economist at Nordnet Bank AB, said. 'This has been especially important for young people.' Almost a quarter of Swedes directly own shares in publicly listed companies, with stakes totaling around US$56,552 on average, according to data from Euroclear Sweden. The most recent available data from the Swedish Investment Fund Association show that about 70% of all Swedes directly invest money in mutual funds. In the UK, only 8% of personal wealth is saved in equities and mutual funds, data from a January review by Aberdeen Group Plc showed. It remains to be seen what effect the introduction of a EU-wide savings and investment account could have on the wider European market. According to Jonas Strom, CEO of the Nordic investment bank ABG Sundal Collier Holding ASA, it is 'definitely possible' to export the Swedish success with the ISK accounts to a wider European audience. The European Commission would only offer a blueprint of how a EU-wide savings and investment account could be constructed, leaving member states to implement it. The success of the proposal ultimately depends on the 'political will' of the member states, Strom said. BLOOMBERG
Al Jazeera
11-07-2025
- Politics
- Al Jazeera
Why has the PKK ended its armed struggle?
Members of the Kurdistan Workers' Party lay down their arms after decades of war with Turkiye. It's one of the longest-running conflicts in the Middle East – and it's about to come to an end. Members of the Kurdistan Workers' Party (PKK) have started laying down their arms at a ceremony in northern Iraq. It comes two months after the group said it would end its armed struggle against Turkiye and shift to democratic politics. Reaction has been mixed: Some Kurds think it could pave the way to peace. Others argue it's a concession with no gains. So how will this process play out in Turkiye and in the wider region? Presenter: Adrian Finighan Guests: Galip Dalay – nonresident senior fellow at the Middle East Council on Global Affairs David L Phillips – director of the Program on Peace-building and Human Rights at Columbia University Mohammed Salih – nonresident senior fellow at the Foreign Policy Research Institute who specialises in Kurdish affairs
Zawya
07-03-2025
- Politics
- Zawya
Political instability, climate change threaten Africa's development prospects — Experts
Experts have raised concerns as Nigeria's and Africa's development aspirations are under threat from the twin challenges of political instability and climate change. They stressed that the continent is facing a crisis of development, exacerbated by the emergence of the Anthropocene, a new geological age characterised by human-induced climate change. Speaking at the First International Conference on Political Instability and Crisis of Development in Africa (PICDA) on Thursday in Abuja, Prof. Mohammed Salih of the Institute for Social Studies, The Hague, Netherlands, noted that Africa is disproportionately affected by climate change, with the World Meteorological Organization reporting that African countries are losing 2-5% of their GDP due to climate-related disasters. The conference, themed 'Cultural Pluralism and Conflict, Crises of Integration and Development in Africa', was organised by the Department of Political Science, Faculty of Social Sciences, Bingham University, Karu, Nasarawa State. The conference also brought together experts and stakeholders from across Nigeria and beyond, aimed at exploring the intersections between political instability and development crises, with a focus on finding sustainable solutions for Africa's future. Prof. Salih further highlighted the prevalence of political instability across the continent, citing the 28 conflict-stricken African countries, including Nigeria, which are experiencing state legitimacy issues, security deficits, and severe economic inequality. Salih argued that the conventional development model has failed to deliver meaningful progress and that alternative approaches are needed to address the complex challenges facing Africa. He, therefore, emphasised the need for African-led solutions, backed by home-grown policies and innovative thinking, rather than relying on external interventions. 'Our grand objective should always be to provide alternative development policies, rather than tinkering with business-as-usual solutions. African universities, such as Bingham, should play a leading role in showing the way forward for Nigeria and the new Africa.' 'A crude general conclusion may suggest that there is a linear relationship between political instability and the crisis of development.' 'In contrast, the other 56 active state-based conflicts in Africa, Asia, and Latin America are waged in the most underdeveloped areas of the world, where it is immediately readily available evidence to draw plausible conclusions on the relationship between political instability and the crisis of development.' 'For example, the 28 African countries (half of the continent) where active state-based conflicts prevail are low-income countries with a gross national income (GNI) per capita of US$1,145 or less (2023).' 'In contrast, the NATO countries involved in the Russia-Ukraine war are an exception. It takes place in Europe, one of the most industrially advanced and economically developed regions in the world. 'These countries are upper to upper-middle-income countries with a gross national income (GNI) per capita of between $4,516 and $14,005 and more (2023).' 'Russia is assisted by North Korean soldiers, Iranian drones, and gold to bust the US and EU sanctions from Sudan and the Central African Republic, and by selling below-world-price oil to China and India. 'The Ukraine war is at a global scale, pitching Russia against 32 North Atlantic Treaty Organization (NATO) countries from Europe and North America. It also divided the world's opinion and created political allegiances, mimicking the Cold War.' 'There are other types of conflicts leading to political instability that do not distinguish between industrially advanced and economically developed and developing countries. For example, crime kills far more people than armed conflicts.' Also speaking, the Lead Paper Presenter, Prof. Adebayo Olukoshi, from the Institute of Governance, Witwatersrand University, Johannesburg, South Africa, noted that the world lives in an era where the global economy is facing unprecedented challenges. 'As Mohammed emphasised in his speech, it's crucial to recognise that the market should be allowed to allocate resources effectively. However, this can only happen if we avoid over-reliance on external factors and focus on building our own capacities.' 'The current state of affairs presents a historic opportunity, particularly for the younger generation, to re-evaluate our approach to economic development. 'Rather than simply adopting solutions from elsewhere, we must harness our own creativity and innovation to address the unique challenges facing our society. By doing so, we can build a more united and secure future, driven by our own confidence and self-sufficiency.' 'As we navigate these complex times, it's essential to remember that our problems require homegrown solutions. While we can draw inspiration from others, we must ultimately find our own path forward. 'By embracing this approach, we can create a brighter future for ourselves and generations to come, one that is built on our own strengths and resilience.' 'To achieve this vision, we must prioritise education, innovation, and entrepreneurship. By investing in these areas, we can unlock the potential of our youth and create a thriving economy that is driven by local talent and ingenuity. 'Furthermore, we must foster a culture of collaboration and knowledge-sharing, where individuals and organisations can work together to address common challenges.' 'Ultimately, embracing self-sufficiency is not just an economic imperative, but also a matter of national pride. 'By taking ownership of our development trajectory, we can build a more prosperous and resilient nation, one that is capable of withstanding the challenges of an increasingly complex and interconnected world.' 'As we move forward, let us draw inspiration from our past achievements and strive to create a brighter future for ourselves and for generations to come.' Meanwhile, the Vice Chancellor of Bingham University, Prof. Haruna Kuje Ayuba, said the theme for this conference is timely as it underscores the intricate dynamics of the continent's diversity and the need for inclusive strategies that foster unity, peace, and sustainable development. The Vice Chancellor also explained that in terms of cultural pluralism, Africa is home to a rich tapestry of cultures, languages, and traditions. 'With over 3,000 ethnic groups and a multitude of linguistic diversities, our continent is a melting pot of identities. 'Cultural pluralism should therefore be our greatest strength—one that enriches our societies, promotes social cohesion, and encourages creative and economic dynamism.' 'Unfortunately, historical legacies of colonialism, governance challenges, weak institutions, and corruption, amongst others, have contributed to political instability in the continent.' 'Post-colonial Africa continues to grapple with the arbitrary borders imposed by colonial powers, often disregarding indigenous identities and historical affinities. In some cases, political elites have exploited ethnic and/or religious differences to advance their personal ambitions.' 'The current instability in the form of widespread protests, civil wars, and coup d'états illustrates the nuances and varied experiences across the African continent.' Ayuba also said all this stifles human development, perpetuates cycles of poverty, hampers economic growth and development, and exacerbates divisions leading to heightened tensions, secessionist movements, prolonged conflicts, and erosion of national cohesion. He, however, said despite these challenges, all hope is not lost as he commended the resilience and agency of African nations. 'There are stories of success and innovation in some African countries that inspire our hope of achieving political stability and sustainable development in Africa.' 'Some recommended pathways to stability and development require the promotion of good governance, institutional reforms, fostering inclusive political processes, upholding the rule of law, investing in education and infrastructure, and enhancing civic engagement to empower local communities.' 'Others include regional collaboration and partnerships to create a more interconnected Africa. As scholars, our role is to encourage interdisciplinary research, dialogue, and collaborations that address the root causes of conflicts.' 'The time is ripe for us to work together to develop homegrown solutions to Africa's challenges.' On the Ambassador Bulus Lolo Centre, Ayuba said it is within the context of thinking continentally but acting locally that Bingham University has considered it imperative to establish the Ambassador Bulus Lolo Centre for Diplomacy, Conflict, Security and Plural Studies. He disclosed that the Centre of Excellence, when constructed and furnished, will serve as a hub for training, research, and archiving policy materials in diplomacy, conflict, security, and plural studies. 'It will be the nerve wire for international cultural diplomacy, conflict mediation, arbitration, and resolution, and a home for all the diplomats in the country to interact with scholars on how to address and resolve the contending local, national, and international crises in Africa,' he added.
