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Largest Dutch pension fund boycotts Israeli banks over settlement ties (Israel & Palestine)
Author: Barak Ravid, Haaretz, Published on: 8 January 2014
PGGM...has 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. [PGGM informed] Bank Hapoalim, Bank Leumi, Bank Mizrahi-Tefahot, the First International Bank of Israel and Israel Discount Bank that their ties with the settlements, and/or companies involved in building in the settlements, created a problem from the standpoint of international law...The Israeli banks responded that Israeli law doesn’t allow them to cease providing service to entities connected to the settlements. Nor, given the daily reality in which the banks operate, would this even be feasible.