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Source: http://news.ft.com/cms/s/321e29ba-be04-11da-856c-0000779e2340.html
Hamas Set for Clash with Abbas over $1.4B Investment Fund
(Financial Times-UK) Harvey Morris - The new Hamas government may be headed for an early showdown with PA Chairman Abbas over control of the $1 billion-plus Palestine Investment Fund (PIF) that could be tapped to help fend off a looming financial crisis. The fund was established under pressure from foreign donors to put investments under more transparent control. In the wake of Hamas' victory in January's Palestinian elections, Abbas transferred control of the fund to himself, but Hamas may have different ideas. "As far as I know, the law says that the fund is under the jurisdiction of the minister of finance," said Omar Abdel-Razeq, the Hamas economist due to assume the finance portfolio. U.S. officials say the liquid assets of the PIF could serve as a source of financing to pay PA salaries for four to five months.