Issue No.
196, August 2014 Latest update 9 2014f August 2014, at 4.39 am
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     Personality of the Month

Dr. Mohammad Mustafa

PIF Board Chairman and CEO

Dr. Mohammad Mustafa is the chairman and chief executive officer of the Palestine Investment Fund. He is also economic adviser to President Mahmoud Abbas. He has assumed senior international posts and has brought to the Palestinian economic sector a new vision. He has worked closely with international economic institutions such as the World Bank, where he served as finance expert for 15 years. In 2005, Dr. Mustafa returned to his homeland in order to contribute to the Palestinian economy and boost investments and projects.

Dr. Mustafa was born in Palestine in 1954. In 1967 he travelled to Kuwait where he completed his secondary education. Later, he worked in Baghdad, Amman, and Riyadh. He also lived and attended university in the United States. After teaching at George Washington University, he worked at the World Bank where he managed to develop the economic sectors of various countries. In addition, he contributed to the implementation of a number of development projects and to the restructuring and privatisation of several economic organisations. His last position was as lead private-sector development specialist for the MENA region at the World Bank.

Dr. Mustafa has also worked at a number of leading investment and development institutions. He served as the economic reform adviser to the Government of Kuwait and as the lead adviser to the Public Investment Fund of the Kingdom of Saudi Arabia. He has worked as an economic expert at the Kuwait Institute for Scientific Research, as well as the project director at Al-Nisf Electric Company, thus bringing to the Arab arena a rich experience in large-scale and comprehensive economic development.

Towards a Strong National Economy
In spite of the difficulties and challenges, Dr. Mustafa has sought to develop an economically fertile base for the Palestinian national economy. Through investing in strategic sectors in Palestine, he has managed to implement several economic projects, create employment opportunities, and attract foreign investment to Palestine.

Moreover, Dr. Mustafa was the founding director of PalTel, Palestine’s first telecommunications company, and a board member at the Arab Palestinian Investment Company (APIC). Currently, Dr. Mustafa is the chairman of the board at Wataniya Mobile Palestine and at the Palestinian Services Commercial Company (PSC).

Since childhood, Dr. Mustafa has believed that life is an interesting journey that is full of difficulties and challenges. However, he also believes that much joy can be derived from the efforts made to overcome them and to celebrate victory. A main source of anxiety and worry for Dr. Mustafa has been the issue of exile which, for him, could be voluntary or mandatory. His family has been scattered all over the world, and he believes that this has had a negative impact on his life, as has been the case for others who have been forced into exile.

Behind Every Successful Man There Is a Woman
According to Dr. Mustafa, his marriage to Amal Al-Qaq has brought him all possible happiness. Through her patience, courage, and wisdom, Amal has helped her husband deal with and overcome the difficulties and challenges generated by the nature of his work. He has to travel a lot and be absent from home for long periods of time, but his wife offers him her unfailing support and has thus been a catalyst for his success.

Vision for the Future
Dr. Mustafa is now leading the Palestine Investment Fund to its own successes and is therefore encouraging investments in national projects, mainly in the communications, real estate, tourism, energy, industry, and finance sectors. In addition, Dr. Mustafa supports small and medium projects and implements large affordable housing projects as part of PIF’s National Affordable Housing Program.

Finally, Dr. Mustafa’s main focus is on creating a strong and independent Palestinian national economy. He hopes that one day Palestine will be less dependent on foreign aid and create for itself an economy capable of generating employment opportunities and providing a better quality of life for the Palestinian people. In his capacity as economic adviser to President Abbas, Dr. Mustafa plays an important role in shaping national economic policies and guiding the PA’s efforts to spur sustainable economic development in Palestine.
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