Luxembourg pension fund boycots major Israeli banks
by alethoMa’an | February 25, 2014
BETHLEHEM
– Luxembourg’s general pension fund has decided to boycott five major
Israeli banks and a number of major Israeli investment companies over
their involvement in supporting construction in illegal settlements in
the West Bank, according to the Hebrew-language news site Walla.
In a report published Tuesday, Walla
news highlighted that names of the Israeli banks and companies appeared
on a list banned by the Fond De Compensation last updated on Nov. 15,
2013. The list, titled on the FDC website as "Exclusion List," included
60 international banks and companies which FDC decided to boycott over
human rights violations.
The
Israeli banks and companies on the list are the Africa Israel
Investment group identified by FDC as Real Estate, Management and
Development group, Bank Hapoalim, Bank Leumi, Elbit Systems, aerospace
and defense group, Finmeccaneca, also aerospace and defense group, First
International Bank of Israel, Israel Discount Bank, Jerusalem Economy
LTD, the Real Estate, Management and Development Group and Mizrahi
Tefahot Bank LTD.
It
was explained on the list that the Israeli banks and organizations
appeared because they support and finance construction of “illegal
Israeli settlements in Occupied Territories of the State of Palestine”
and some provide security systems for the “illegal separation barrier on
Occupied Territories of the State of Palestine.”
The Walla
report highlighted that the direct impact of this boycott could be
zero, but it is still worrying because it is a chain in an ongoing
divestment process.
No comments:
Post a Comment