Munib R Masri
Munib R Masri is the founder of the Engineering & Development Group (Edgo). He has a BSc in petroleum geology from the University of Texas in Austin (1955) and an MSc in government and geology from Sul Ross University also in Texas (1956). On graduation Mr Masri returned to Jordan and founded the Jordanian office of Engineering and Geological Services, a precursor to Edgo. In 1962, he became president of Phillips Petroleum in Algeria and was subsequently promoted to become Phillips’ president of operations, responsible for 16 countries in the Middle East and North Africa. In 1970, he was appointed Minister of Public Works in Jordan.
Mr Masri has been a director of Reda RAK in the UAE (a partnership with Schlumberger) since it was formed and is currently chairman of the Board of Directors. Reda RAK was constructed in 1976 by Edgo to service electrical submersible pumps.
In addition he is a director of a number of companies including Jerusalem Development and Investment Company and the Arab Medical Centre (both in Jordan), and Arabia Insurance (in Lebanon). He is also the co-Founder and Chairman of the Palestine Development and Investment Company (PADICO) whose primary goal is to develop the infrastructure of Palestine. PADICO has launched several companies including Palestine Telecommunications and the Palestine Securities Exchange Company.
In 2006, Mr Masri retired as vice chairman of the Arab Bank, one of the oldest private banks in the Middle East. Having become a client in 1956, he subsequently served for more than 30 years as a board member of the Arab Bank and several of its subsidiaries. He continues to serve on the board of Arab Bank (Switzerland).
Mr Masri is a member of the international board of the US-based Council on Foreign Relations and the Council of Advisers of the World Bank Middle East and North Africa. In addition he is an active member of cultural, educational and humanitarian organisations including: