Arabian Business Power 500 2013
Thu 21 Mar 2013 10:28 AM
Munib Al Masri
48

Munib Al Masri

Industry: Banking & Finance

Company: PADICO

Designation: Chairman

Country: Palestine

Often described as the Duke of Nablus or Palestine’s Rothschild, Masri is known as the patriarch of a prominent Palestinian family that has produced bankers, consultants and politicians.

Geologist Masri - now 78 - hails from the West Bank town of Nablus. Masri, who was once a close confidant of the late Palestinian leader Yasser Arafat (who offered him the premiership three times), made his fortune in oil and gas working in the Gulf; North Africa and elsewhere.

When the Oslo peace process kicked off Masri helped set up the Palestine Development and Investment Ltd. (PADICO), the largest private investor by initial investment in the West Bank and Gaza Strip, which he chairs. The holding group controls over 30 companies across various industries. Today, however, Masri is more of a fire fighter as he was in the 1970s when helped bring about an end to clashes that took place in Jordan when Palestinian guerillas challenged the authority of King Hussein.

Much of his time has been dedicated to reconciling the Palestinian Hamas movement with President Mahmoud Abbas’ Fatah group, in addition to trying to foster dialogue among Israelis and Palestinians who aspire to live in peace within the context of a two-state solution.

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