Dutch pension giant boycotts Israeli banks

The Holland based pension giant PGGM has said it will boycott Israeli banks over illegal settlements.

Dutch pension giant boycotts Israeli banks

World Bulletin / News Desk

PGGM, a world renown Dutch pension fund management company, has announced its decision to boycott Israeli banks over the continuation of illegal Jewish settlement building in the West Bank.

A statement issued by PGGM on Wednesday said that the company "does not invest its clients’ funds in companies that produce or deal in controversial weapons. Nor are funds invested in companies that violate human rights or labor rights and who are unwilling to discuss making improvements.”

This comes after academic boycotts hit Israeli educational institutions for the very same reason. Israel fears that others may follow suit it what seems to be a growing trend in the west.

Israel is in clear breach of the Geneva Convention, having built 120 illegal settlements for around half a million Jewish settlers in Palestinian territories in the West Bank, beyond Israel’s 1967 borders.

Güncelleme Tarihi: 13 Nisan 2014, 12:15