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Confidant to Palestinian Authority president

Mohammad Mustafa

Offshore investment company sent funds from Arab countries to Palestine

Related to  Palestine Jordan
Data from: Panama Papers
Mohammad Mustafa, chairman of the Palestine Investment Fund, has been a close confidant to Palestinian Authority President Mahmoud Abbas since Hamas took over the Gaza strip in 2007. A former senior official of the World Bank, Mustafa joined the Palestinian government in 2013 when he became deputy prime minister for economic affairs. A year later, he held two titles – deputy prime minister and minister of national economy – until he resigned in March 2015. At the time of his resignation, Mustafa was in charge of reconstruction of Gaza after a 50-day war in the summer of 2014. Foreign Policy magazine called him “the most important man in the Palestinian economy."

In the data

Mustafa has been a director of the Arab Palestinian Investment (Holding) Company Ltd. (APIC Holding) since March 2006. Founded in the British Virgin Islands in 1994, APIC Holding is the parent corporation of the similarly named Arab Palestinian Investment Company (APIC), which Saudi and Palestinian businessmen created the same year to channel "funds and investments from the Arab World to Palestine." A year before he joined APIC Holding, Mustafa became CEO of the Palestine Investment Fund, one of APIC Holding's numerous shareholders. In July 2013, the directors of APIC Holding changed its legal status to a public limited company and in March 2014, APIC started trading on the Palestine Exchange.


Mustafa confirmed that since 2006 he has been a member of the board of the publicly traded Arab Palestinian Investment Co., where he represents the shares of the Palestine Investment Fund. He resigned as a director when he joined the Palestinian government, which he left in 2015. Then he rejoined in February, 2016. He noted that all his mandates "are cleared with all competent authorities in accordance to the applicable laws in Palestine."
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