Denmark’s largest bank boycotts Israel’s Hapoalim over new home construction

Danske Bank accuses Bank Hapoalim of violating rules of int’l humanitarian law.

Danish bank already withdrew investments from 2 Israeli firms.

 

Denmark’s largest bank decided to blacklist Bank Hapoalim because of its involvement in the funding of settlement construction.

Construction site in the West Bank settlement of Modiin Illit.

Construction site in the West Bank settlement of Modiin Illit. – Photo: AP

Danske Bank added Bank Hapoalim to its list of companies in which the company cannot invest due to its corporate accountability rules.

In an announcement posted on its website, the bank stated that Bank Hapoalim was acting against the rules of international humanitarian law.

Israeli website Walla reported on the Danish bank’s decision earlier on Saturday.

The Danish bank had already decided to pull its investments from Africa Israel Investments Ltd. and Danya Cebus due to their involvement in settlements construction.

Approximately a week ago, the Netherlands’ largest pension fund management company, PGGM, decided to withdraw all its investments from Israel’s five largest banks because they have branches in the West Bank and/or are involved in financing construction in the settlements.

Earlier this week, The Norwegian Ministry of Finance announced it has decided to exclude Israeli firms Africa Israel Investments and Danya Cebus from its Government Pension Fund Global.

According to the announcement, the Ministry of Finance received a recommendation on November 1 from the Council of Ethics to exclude the two companies from the fund “due to contribution to serious violations of individual rights in war or conflict through the construction of settlements in East Jerusalem.”

 

View original HAARETZ publication at: http://www.haaretz.com/news/diplomacy-defense/1.571849

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