Arab Today, arab today dutch pension fund quits israeli banks over settlements
Last Updated : GMT 09:48:29
Arab Today, arab today
Arab Today, arab today

Dutch pension fund quits Israeli banks over settlements

Arab Today, arab today

Arab Today, arab today Dutch pension fund quits Israeli banks over settlements

The Hague - AFP

Dutch pension asset manager PGGM, one of the largest in the country, said on Wednesday it was divesting from five Israeli banks because they finance Jewish settlements in the occupied Palestinian territories. The announcement comes a month after a major Dutch water supplier ended a partnership with an Israeli water company which supplies Israeli towns and Jewish settlements in the occupied West Bank. "PGGM recently decided to no longer invest in five Israeli banks," saidthe company, which manages about 153 billion euros ($208 bn)in funds. "The reason for this was their involvement in financing Israeli settlements in occupied Palestinian territories," PGGM said in a statement. PGGM said there was "a concern, as the settlements in the Palestinian territories are considered illegal under humanitarian law," and regarded by international observers as an "important obstacle to a peaceful (two-state) solution of the Israel-Palestinian conflict." It said it would no longer do business with the Hapoalim and Leumi banks, the First National Bank of Israel, the Israel Discount Bank and the Mizrahi Tefahot Bank. PGGM added it based its decision on a 2004 UN International Court of Justice ruling that the Jewish settlements were in breach of the Geneva Convention relating to occupying powers transferring their own citizens into occupied territories. The group said it had been discussing the issue with the Israeli banks "for several years" but that the banks "have limited to no possibilities to end their involvement in the financing of settlements in the occupied Palestinian territories." "Therefore, it was concluded that engagement as a tool to bring about change will not be effective in this case," PGGM said. All investment in the banks ended on January 1 "as concerns remain and changes are not expected in the foreseeable future," it added. PGGM’s investments in Israeli banks amount to a few tens of millions of euros, Israeli newspaper Haaretz reported. "But its decision is liable to damage the banks’ image, and could lead other business concerns in Europe to follow suit," the paper said. Last month Dutch water supplier Vitens ended a partnership with Israeli water company Mekorot due to the "political context." The decision came days after a visit to the Mekorot offices in Israel by Dutch trade minister Lilianne Ploumen was abruptly cancelled. The visit was part of a larger tour of Israel by Prime Minister Mark Rutte that was marred by a dispute over a Dutch-made security scanner intended to check goods leaving Gaza for the West Bank. Rutte was to have inaugurated the scanner on the isolated territory's border with Israel, but the ceremony was broken off after Israel saidit did not want Gazan goods going to the West Bank. Israel's defence ministry wants to isolate the two Palestinian regions, while Dutch officials had hoped the scanner might boost commerce between them. Israeli deputy Foreign minister Zeev Elkin last month said he was "blindsided" by Vitens' pullout "and a few more European companies have made similar decisions in the past months, which have blindsided us exactly in parallel with the peace process." Zeev, speaking to Israeli military radio, said that peace initiatives should mean "that people don’t breathe down our neck", but "unfortunately this doesn’t work."

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dutch pension fund quits israeli banks over settlements Arab Today, arab today dutch pension fund quits israeli banks over settlements

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dutch pension fund quits israeli banks over settlements Arab Today, arab today dutch pension fund quits israeli banks over settlements

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today A no-frills business success

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel sees benefits in independent Kurdistan: experts

GMT 07:58 2017 Wednesday ,20 September

Israel sees benefits in independent Kurdistan: experts
Arab Today, arab today Equifax executives step down

GMT 16:16 2017 Saturday ,16 September

Equifax executives step down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Renault-Nissan to launch

GMT 10:44 2017 Saturday ,16 September

Renault-Nissan to launch
Arab Today, arab today Horia Farghaly happy for success of “Case G”

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”
Arab Today, arab today 5,000 'Dieselgate' deaths in Europe per year

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 06:31 2017 Saturday ,16 September

Eman Al Assy receives three offers

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 15:49 2017 Friday ,15 September

'Severe' Typhoon Doksuri pounds Vietnam

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:26 2017 Wednesday ,20 September

Opioid overdose deaths take 2.5 months

GMT 11:40 2017 Monday ,18 September

Russia and Iraq restore air travel

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday