Place flour, margarine, oil, water, Arak, and spices into a bowl and mix until it is formed into dough.
Take a walnut size piece of dough and roll into a rope about 1/3 inch in circumference and about 5 1/2 inches long, then join the two ends together forming a bagel. Continue until all the dough is used up.
Brush with egg white and sprinkle with sesame seeds.
Bake 45 minutes in a pre-heated moderate oven [350 degrees F] on a greased cookie sheet