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Luxembourg pension fund boycots major Israeli banks
Published Tuesday 25/02/2014 (updated) 27/02/2014 19:30
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(MaanImages)
BETHLEHEM (Ma'an) -- 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.
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1 ) Colin Wright / USA
25/02/2014 22:06
South Africa -- about 1975-80. It's like watching snow melt -- but it's happening.

2 ) Colin Wright / USA
25/02/2014 22:08
The killer will really be the intangible effect. As more and more refuse to be involved with Israel, more and more will simply avoid Israel because of the potential complications.

3 ) helen haines / uk
26/02/2014 01:46
Well done. Very good news. Keep spreading the word. Have just returned from Palestine, and it's atrocities have been acceptable for too long. We have to end this apartheid, human rights abuses NOW

4 ) S.O. / Jordan
26/02/2014 08:15
Now the Aparthied-supporting Israelis will run to Europeans whining & crying: "no no we a'gh diffe'gh'ent f'gh'om sous Af'gh'ica, we a'gh a democ'ghacy"

5 ) Mel / USA
27/02/2014 18:04
Good!
Boycott Zionist bigotry.
Divest from Zionist discrimination.
Sanction Zionist segregation.
Nazi war criminals were tried,prosecuted &executed for,essentially,the same crimes against humanity leading to far worse,because 'The Allies' ignored the obvious facts on the ground! Since then,'the allies' have ignored Zionism's actions since 1947.Is there some exception to the rule of international law for Zionism,over Nazism?? I think NOT!

6 ) Sander / The Netherlands
27/02/2014 23:21
Good news. Hurray for Luxembourg pension fund ! Hope more will follow this example.
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