Word: fayyad
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Dates: during 2000-2009
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...August 2002, international donors forced Arafat to sign over his investments to the Palestine Investment Fund, which was audited by U.S. accountants and managed by Palestinian Finance Minister Salam Fayyad, a former International Monetary Fund official. After scouring corporations throughout the Arab world and bank accounts in the Cayman Islands and Luxembourg, the auditors identified $800 million, which has been made a part of the Palestinian Authority's official budget. "It's the most successful financial reform in the Arab world," says Jim Prince, president of the Los Angeles--based Democracy Council and head of the audit team...
People close to Fayyad's investigation tell TIME that last year the auditors discovered that Arafat was guilty of skimming $2 million a month from the gasoline trade in the territories. Breaking the gasoline smuggling and corruption boosted the Palestinian Authority's official treasury by $10 million a month and cut gas prices for ordinary Palestinians. But Arafat's death means his followers may never know just how much more they may be owed. --By Matt Rees/ Jerusalem. With Jamil Hamad/ Ramallah and Aharon Klein/Jerusalem
...Mazen has irked Arafat by ignoring his longtime loyalists, preferring younger leaders untainted by corruption and, in some key cases, well regarded in Israel and Washington. In fact, Abu Mazen kept only one member of Arafat's previous cabinet, and that was finance minister Salam Fayyad - whom Arafat had appointed under pressure from the West to ensure transparency in budgetary affairs...
...ready to cede power. For one thing, Arafat didn't say when he'll make the move or precisely what powers the Prime Minister will have. But U.S. officials are intrigued by one candidate whose name has been floated for the new post: reformist Finance Minister Salam Fayyad, who has tackled Palestinian Authority corruption. Israeli officials are less optimistic. They regard Arafat's announcement as a ruse, and tell TIME that another name on the short list is Nabil Shaath, who is closely tied to Arafat. Both the U.S. and the Israelis will be happy enough if regional tensions keep...
...potential has not been lost on the intelligence community. When CIA agents came calling on digiMine, a retail data-mining specialist based in Bellevue, Wash., they carried a list of 900 companies that were pursuing data-mining capabilities, says CEO Usama Fayyad. Through a nonprofit venture-capital fund that it finances, called In-Q-Tel, the CIA has invested in several data-mining companies that serve both the private sector...