Immediately, I want to know – Who is he? What are his connections? What are those connections connected to? Here is a bit of what I learned:
“Sabih Taher Darwish al-Masri is a Palestinian businessman. He is the founder and chairman of Zara Investment Holding, the chairman of Arab Supply and Trading Corporation (Astra Industries), Paltel Corporation and Arab Bank, and the founder of the Palestine Securities Exchange (PSE)”. (wiki)
“Zara Investment Holding: Zara Investment Holding was founded on 10 May 1994 by Sabih al-Masri, the current chairman, and Khalil Talhoni, in addition to a number of investors and local banks and Arab and international investment companies, such as the International Finance Corporation (IFC)”. (wiki)
“The International Finance Corporation (IFC) is an international financial institution that offers investment, advisory, and asset-management services to encourage private-sector development in developing countries. The IFC is a member of the World Bank Group and is headquartered in Washington, D.C.. It was established in 1956, as the private-sector arm of the World Bank Group, to advance economic development by investing in for-profit and commercial projects for poverty reduction and promoting development”. (wiki)
There has been some criticism of the IFC:
“IFC comes under frequent criticism from NGOs that it is not able to track its money because of its use of financial intermediaries. For example, a report by Oxfam International and other NGOs in 2015, “The Suffering of Others,” found the IFC was not performing enough due diligence and managing risk in many of its investments in third-party lenders.”
“Other criticism focuses on IFC working excessively with large companies or wealthy individuals already able to finance their investments without help from public institutions such as IFC, and such investments do not have an adequate positive development impact. An example often cited by NGOs and critical journalists is IFC granting financing to a Saudi prince for a five-star hotel in Ghana.” (wiki)
So in other words, it sounds as though the IFC, which again has financial ties to Zera Investment Holding, wears the mask of a “global poverty relief” organization but it appears it’s just another arm of the elite.
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Palestinian billionaire businessman Sabih al-Masri has been detained in Saudi Arabia on a business trip to Riyadh, his family confirmed to Reuters news agency.
The 80-year-old founder of Zara Investment Holding and chairman of Arab Bank was held in the Saudi capital for questioning last week about “information related to corruption”, according to Rai al-Youm.
The Arab news website reported on Saturday that no formal charges were made against al-Masri, who reportedly also holds Saudi and Jordanian citizenship.
Al-Masri, one of Jordan’s most prominent businessman, is the cousin of the billionaire Munib al-Masri, the wealthiest person in Palestine.
He also founded the Palestine Securities Exchange, and has managed investment companies and financial economic institutions across the Middle East and beyond, including Arab Bank.
Headquartered in Amman, Arab Bank is Jordan’s largest lender and functions as a major economic engine throughout the Middle East and North Africa.
Masri’s detention sent shockwaves across Jordan where Masri’s multibillion-dollar investments are a cornerstone of the economy and employ thousands.
Reuters reported that Masri had cancelled a dinner for friends and business associates that was planned for Tuesday upon his return to Jordan.
Saudi Arabia initiated an anti-corruption purge at the beginning of November, which has implicated some of the country’s top officials, businessmen and members of the royal family.
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