Documents leaked to the press this week have once again reinforced the general conclusion that Western banks simply cannot accept any Palestinian PEPs as clients, because the Palestinian Authority leadership allows rampant corruption to flourish, in order to receive sorely needed political support from its corrupt rank-and-file officials. The diversion of public funds, and the theft of money budgeted to help the people of the Palestinian territories, continues unabated and unchecked.
In the first case, former PA Deputy Foreign Minister, Majdi al-Khalidi, who is currently the principal diplomatic adviser to the President of the Palestinian Authority, signed and delivered a letter to the Government of Bahrain, specifically that country's foreign minister, asking for $4m in donations. The ostensible purpose for the request was for funds to build a complex in Ramallah, whose aim was to "resist Israeli settlements."The problem is that there are no such settlements in the area. Why ask for money to combat a non-existent threat ? So that it can be diverted, and flow into the pockets of corrupt PEPs.
In the second case, Nazmi Muhanna, who is the Director General of the Palestinian Crossing and Borders Authority, asked the PA for $15,000, of which approximately $10,000 was to pay for his daughter's private school tuition in Jordan, and the balance to cover his family's Jordanian medical expenses.
The best compliance approach is to reject all Palestinian PEPs as account holders, for the number of PEPs that are not corrupt would fit on the head of the proverbial pin.
In the first case, former PA Deputy Foreign Minister, Majdi al-Khalidi, who is currently the principal diplomatic adviser to the President of the Palestinian Authority, signed and delivered a letter to the Government of Bahrain, specifically that country's foreign minister, asking for $4m in donations. The ostensible purpose for the request was for funds to build a complex in Ramallah, whose aim was to "resist Israeli settlements."The problem is that there are no such settlements in the area. Why ask for money to combat a non-existent threat ? So that it can be diverted, and flow into the pockets of corrupt PEPs.
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| Majdi, right. |
In the second case, Nazmi Muhanna, who is the Director General of the Palestinian Crossing and Borders Authority, asked the PA for $15,000, of which approximately $10,000 was to pay for his daughter's private school tuition in Jordan, and the balance to cover his family's Jordanian medical expenses.
The best compliance approach is to reject all Palestinian PEPs as account holders, for the number of PEPs that are not corrupt would fit on the head of the proverbial pin.
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| Nazmi Muhanna, left. |
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