Panama Papers Show Abbas’s Son Has 1m in PA-Linked Equity Fund

12 Apr 2016

From the JTA:

Tareq Abbas, the son of Palestinian Authority President Mahmoud Abbas, holds $1 million worth of shares in a Palestinian investment company with ties to the PA, the “Panama Papers” data leak revealed.

The Arab Palestinian Investment Company, or APIC, launched in 1995, is today a major financial player in the Palestinian economy, with involvement in the food, medical and automobile industries as well as public relations and a host of shopping centers.

Abbas’s son Tareq was appointed to the board in 2011, a fact that was public knowledge. However, his personal investment in the company — $982,000 as of September 2015 — had not been known, Haaretz reported Thursday based on the data leak.
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