Israeli banks involved in financing illegal settlements in Palestine, Who Profits' report
Israeli banks provide financial services for construction and infrastructure projects in West Bank and East Jerusalem settlements and provide loans to regional and local councils of settlements in the West Bank. Reports by WhoProfits have focused on the responsibility of these banks for the continued occupation of Palestinian land. The reports revealed that all Israeli banks except Dexia Israel provide special loans to construction and infrastructure projects in settlements in the West Bank and East Jerusalem. In addition, all Israeli banks with no exception provide loans and financial services to local and regional councils of Israeli settlements in the West Bank and most banks have several branches in Israeli settlements in the West Bank and East Jerusalem. A later report by Human Rights Watch has also focused on the responsibility of Israeli banks and has purportedly disproved the claim that the banks are required by Israeli law to provide financial services to settlements. Further allegations by BDS France have highlighted the role of AXA Insurance in financing some of these banks.
The Resource Centre contacted a number of Israeli banks mentioned in the reports. Bank Hapoalim, Leumi Bank, Bank of Jerusalem, Dexia, FIBI, Israel Discount Bank, Mizrahi Tefahot and Union Bank of Israel (Igud) have not responded.
AXA responded to allegations raised by BDS France.
The Association of Banks in Israel had responded in 2014 to an earlier outreach by the Resource Centre to Israeli Banks following a report by WhoProfits in 2013.