The Palestine Development and Investment Company (PADICO Holding) has announced the appointment of Abdullah Sabat as CEO during a board meeting held today at the company’s headquarters in Rawabi, Palestine.
Abdullah Sabat accumulates over 20 years of experience in management and investment, locally and internationally. He is a Senior Partner at Massar International and previously served as the General Manager of Siraj Investment Fund. Formerly, Sabat served as an audit manager at Ernst & Young, where he audited several listed and private companies and investment funds.
Sabat serves as a board member in various public and private companies; he is the vice chairman of Palestine Exchange (PEX), a board member of Palestine Telecommunications Company (Paltel), chairman of the Palestine Leasing Company (PalLease), and a board member of Palestine Monetary Authority (PMA).
Bashar Masri, chairman of PADICO Holding, expressed his happiness with the appointment of Sabat as CEO, saying: “This appointment charts the next stage, as we are striving to accumulate our successes and achieve breakthroughs in vital economic sectors in Palestine, and Mr. Sabat is one of the leading expertise of the private sector with whom I have worked closely for many years. We have confidence in his professional abilities and familiarity with the challenges of investing in Palestine.”
Masri added: “We will continue to invest in Palestinian qualified, skilled leaders who are consistent with our vision and have the potential to assert PADICO’s position as an influential, pioneering investment company in Palestine.”
For his part, Sabat thanked Chairman Bashar Masri and the Board of Directors for the trust they have placed in him, saying, “The leadership of the Executive Team of PADICO, giving the significance it represents on the Palestinian economic front is a great honor and a great responsibility that I am prepared to assume in cooperation with the Board of Directors and closely with my colleagues in the Executive Management of PADICO and its affiliated and allied companies.”
Sabat holds an MBA with distinction in Finance & Accounting from the University of Liverpool and a B.A. in Accounting with a minor in Business Administration from Birzeit University. He is also a Certified Public Accountant (CPA) in the State of New Mexico, USA, and a Certified Internal Auditor (CIA) by the Institute of Internal Auditors (IIA).
PADICO Holding is a public shareholding company listed on Palestine Exchange (PEX). It has a base of around 7,000 shareholders and a subscribed capital of $250 million. The market value of PADICO and its listed and unlisted companies exceeds $2 billion invested in vital economic sectors across Palestine.
