Ikhtiyar means 'choice' in Arabic
Ikhtiyar means 'choice' in Arabic
Ikhtiyar means 'choice' in Arabic
Ikhtiyar means 'choice' in Arabic

'Ikhtiyar': Arabic word for choice brims with consequences


Razmig Bedirian
  • English
  • Arabic

In Notes from the Underground, Fyodor Dostoevsky’s nameless protagonist is probably not one we should be referring to for insight.

Bitter, nihilistic and self-aggrandising as much as he is self-deprecating, the underground man is a saturation of misanthropy. He champions free will over reasoning. For him, what human beings want is “simply independent choice, whatever that independence may cost and wherever it may lead. And choice, of course, the devil only knows what choice”.

Of course, the matter is not so reckless. Our decisions reverberate with consequences that teach us, often ruthlessly, that our choices should be handled with responsibility, lest they hurt us and those around us. Dostoevsky intended the underground man as a cautionary figure in many aspects, but it is from these notions of choice that we will cross to this week’s Arabic word.

Ikhtiyar means choice, and the Arabic word is heavy with the gravity of every decision. In verb form, the word becomes ikhtara/ikhtaret (he chose/she chose) or, in the present yakhtar/takhtar (he chooses/she chooses). My choice is ikhtiyari. Ikhtiyar ashwaa'ei is a random selection. Soo'a al ikhtiyar is usually said when a person surrounds themselves with bad company.

The nature of a choice is that it is a decision that is not mandatory (ghayr ijbari). However, there are choices that feel forced, or ikhtiyar id'tirari. An arbitrary choice is an ikhtiyar i’tibati. Hurriyat al ikhtiyar is freedom of choice. Al ikhtiyar al khate'a is the wrong choice.

Students pursuing a higher education enrol for courses that are either mandatory (ilzamiyya) or elective (ikhtiyariyya). Another word for choice in Arabic is khayar. Khayar saeb is a difficult decision. Laisa lahu khayar (he has no choice).

Choice features in numerous popular sayings, for example:

Moazam al anwaa al fashal tahduth bisabab aadam al ikhtiyar wa lays bisabab al ikhtiyar al khate'a – most failures come from the inability to decide and not from a bad decision.

Indama yafqud al insan qudtratahu lil'ikhtiyar yafqud insaniyyatahu – when a person loses their ability to decide, he loses his humanity.

Finally, a line from a poem by Syrian writer Nizar Qabbani that has been adapted by Iraqi Kazem Al Saher in his hit song Inni Khayyartoki.

Inni khayyartoki fa ikhtari ma bayna al mowti ala sadri aw ala dafatiri ash'aari. Ikhtari al hob aw laa, fa jubnun an la takhtari.

I have given you a choice, so choose between dying on my chest or over my poems. Choose between love or non-love for it is cowardice not to choose.

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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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Updated: September 15, 2023, 6:02 PM