Palestinian Investment Fund

A few years back, S& P had done a report on the assets held by Palestinian authority which determined that approximately USD$ 600 million has been invested in various commercial ventures across the world.The report looked at investments in ten privately- and/or publicly-held companies, six in the telecommunications sector and the balance in biotechnology, insurance, the gaming industry, and cement.

While browsing through their official site however, one tends to wonder , just how much transparency exists ( the website shows only investments made locally). An audited report in early 2000 indicated investments included Israeli patronized ventures.

Unlike other funds in the region that have been more than generous to a depressed western economy, the PIF is now looking towards a future that will encompass investments that will benefit the people. Their books are currently audited by E&Y.

The challenge ofcourse lies in enticing foreign partnership and the team led by Mr Mustafa Mohammed,Cheif Executive of the PIF is trying make a difference by paving the way towards a private investment driven sustainable economy.