Who is Mohammad Mustafa, Palestinian Prime Minister-designate?

WORLD  28 March 2024 - 19:45

Dr. Mohammad Mustafa, the Palestinian Prime Minister-designate, is a distinguished economic and political figure, serving as a member of the Executive Committee of the PLO since 2022 and heading its Economic Department. He has been the Chairman of the Board of Directors of the Palestine Investment Fund since 2015.

His extensive experience includes high-ranking roles in various international and Arab public and private economic institutions across Palestine, the Arab region, and the United States, focusing on governance, institutional building, development policies, and infrastructure development, WAFA reports.

He has been instrumental in initiating and managing several significant local and regional investment funds and companies.

Born in Palestine in 1954, Dr. Mustafa earned his doctorate in business administration and economics from George Washington University in 1988, after receiving his master's degree in management from the same university in 1985 and a bachelor's degree in electrical engineering from the University of Baghdad in 1976.

In his political career, Dr. Mustafa has held the role of Deputy Prime Minister and Minister of National Economy in the sixteenth and seventeenth Palestinian governments (2014-2015) and served as Deputy Prime Minister for Economic Affairs in the fifteenth Palestinian government. From 2006 to 2013, he was the CEO of the Palestine Investment Fund, where he leveraged his comprehensive experience from senior positions in private sector development and economic reform at the World Bank in Washington.

He also provided consultancy on economic reform to the State of Kuwait's government and served as an advisor to the Public Investment Fund in Saudi Arabia from 1991 to 2005. His background includes several key positions in the private sector in Kuwait, the United States, and Palestine, as well as a stint as a visiting professor at George Washington University.

Throughout his tenure in Palestine, Dr. Mustafa has been a driving force behind the establishment and launch of numerous leading companies and investment funds, including the Palestinian Telecommunications Company Paltel, the Palestinian National Mobile Company in 2008, the Ammar Real Estate and Tourism Investment Company in 2009, Ammar Al-Quds in 2018, the Rasmala Palestinian Equity Fund in 2011, the Palestinian Leasing Company for Islamic Finance in 2013, Aswaaq Asset Management Company in 2014, focusing on Palestinian stock markets, Masdar Company for Natural Resource Development and Infrastructure Projects in 2015, and Palestine Power Generation.

In his public roles, Dr. Mustafa has participated in key organizations such as the World Economic Forum and served as Governor of Palestine at the Arab Fund for Economic and Social Development in Kuwait. He led the Ministerial Committee at the Donors' Conference for the Reconstruction of Gaza in Cairo in 2014. Additionally, he is a member of the boards of trustees of the Institute for Palestine Studies and the Yasser Arafat Foundation.

Under the leadership of Dr. Mustafa, the Palestine Investment Fund (PIF) has evolved into a leading economic institution within Palestine, as well as a distinguished regional and international entity, demonstrated by its multitude of partnerships with a vast array of financial and private institutions worldwide. These partnerships span investment collaborations and include full membership in the International Forum of Sovereign Wealth Funds (IFSWF).

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