Revenue files 'disappear' from PA Finance Ministry By Khaled Abu Toameh

[pistoff democrat]

Palestinian Authority Finance Minister Salam Fayyad has revealed that files and documents detailing revenues from oil products of the PA's Petroleum Authority have disappeared under mysterious circumstances from his ministry.

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Earlier this year, Fayyad, in the context of his efforts to fight corruption and implement reforms in the PA, took over the Petroleum Authority, which had been managed as a private business by some of PA Chairman Yasser Arafat's closest aides. The bank accounts of Harbi Sarsour, head of the Petroleum Authority, were frozen pending a through investigation into the scandal. But an initial investigation showed that much of the profits from the revenues of oil products had been deposited into a bank account under Arafat's name.

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Another corruption scandal that was discussed at the PLC meeting is related to the International Bank of Palestine. The case began three years ago, when the PA accused the bank's chairman, Issam Abu Issa, a Palestinian with Qatari citizenship, of offering loans to private companies without guarantees.

When the scandal was revealed, Abu Issa and one of his brothers fled to the Qatari embassy in Gaza City, claiming that their lives were in danger from Arafat. The crisis was settled after the PA and the Qatari government agreed to establish an international auditing company that would study all files and define responsibilities in the issue against Abu Issa. In effect, the agreement turned the PA into the de facto owner of the bank.


http://www.jpost.com/servlet/Satellite?pagename=JPost/JPArticle/ShowFull&cid=1070444894725&p=1008596981749

[pistoff democrat]

1. Also from the article:

"Several legislators queried the Finance Minister about a series of corruption scandals that have hit the PA over the past few years, including the embezzlement of hundreds of millions of dollars from the Petroleum Authority and the pocketing of $11m from the International Bank of Palestine." (also from

http://www.jpost.com/servlet/Satellite?pagename=JPost/JPArticle/ShowFull&cid=1070444894725&p=1008596981749)


With regard to paragraph 2 in the opening post, I'm wondering if this has anything to do with Chairman Arafat's riches and his wife's $100K per month allowance?