Dr. Mohammed Mustafa

Dr. Mohammad Mustafa is a distinguished economic and political figure, serving as a member of the Executive Committee of the PLO since 2022 (as an independent member) 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. 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).

The PIF boasts an investment portfolio comprising more than 70 projects and programs, 95% of which are situated within Palestine, spanning seven vital economic sectors: energy, health, the digital economy, industry and trade, agriculture, real estate, and tourism. As an Impact Investment Fund, PIF has successfully met its Impact KPIs, driving job creation, reducing dependency on imported products, empowering the Palestinian private sector, and contributing to the gross domestic product, while generating a reasonable financial return. Notably, PIF has delivered dividends to its shareholder—the state—amounting to approximately 150% of the initial paid-up capital. PIF's assets are currently valued at around one billion US Dollars, supporting an ambitious investment program worth $2.3 billion.

PIF operates within a transparent institutional framework characterized by the highest governance standards, adopting policies that uphold integrity, transparency, and separation of powers. These policies, developed in collaboration with leading international firms, adhere to the most rigorous global benchmarks. The PIF and its subsidiaries undergo internal audits aligned with premier professional standards to ensure governance and operational efficacy. The independent internal audit department reports to PIF’s Audit Committee and collaborates with Deloitte, one of the Big Four accounting firms. Moreover, PIF’s financial statements are independently audited by another esteemed firm, PricewaterhouseCoopers, which provides an impartial perspective on the validity of financial statements formulated by executive management. Compliant with international financial reporting standards, these financial statements are publicly accessible on PIF’s website (www.pif.ps), together with the auditor's report, as part of the annual report ratified by PIF’s General Assembly.

Dr. Varsen Aghabekian Shahin

 Holds a Ph.D. is in Administrative & Policy Studies-Education from the University of Pittsburgh/USA and a M.Sc. from Indiana University/Purdue University (IUPUI)/ USA

Worked as an Associate Professor at Al Quds University (1988-1995) and as an Associate Professor (1995-2008).

Served as Dean of the Faculty of Health Professions 1995-1998 and Dean of Graduate Studies 1998-2000 at Al Quds University. Coordinated the Health Human resource Unit at the Palestinian Health Council.

Director of the Palestinian National Plan for Human Resource Development and Education in Health 1999-2000

Directed the Multisector Review and Strategic plan for East Jerusalem (The Orient House and the EU) 2000-2002

Director of Research and Planning at the Welfare Association (Al Ta’awon) 2003-2005

Manager of the Capacity and Institution Building (CIB) project of the Office of the President of Palestine 2006-2009

Executive Director of Al-Quds Capitol of Arab Culture 2009

Commissioner General for the Palestinian Independent Commission for Human Rights 2016-2018

Operations Director and Policy consultant at the Palestinian Negotiations Support ProjectNegotiations Support Unit 2010 onwards

Worked as an Associate professor and head of strategy Dar Al Kalima University-Bethlehem

Selected member of the committee drafting the strategy on strengthening the Christian Presence in Palestine and is a member of the Presidential Committee for the Restoration of the Church of the Nativity and a member of the Presidential Committee for Churches Affairs.

Interested in women’s and human rights issues and has been a member on the boards of several civil society organizations and universities.

Author of several articles, studies, manuals and national reports on: Jerusalem, health, women in politics, Christian migration from Palestine, planning in Jerusalem and Armenia presence and contribution in Palestine .