New “Israeli” Report: “Israeli” Banks Principal Beneficiaries of Illegal Settlements

A new report published by WHO Profits revealed "Israeli" banks are well aware of the activities carried out with their financial assistance."

Who Profits, a research project that exposes "Israeli" and international corporate involvement in the occupation, exposed in its report the financial support provided by "Israeli" banks to illegal "Israeli" settlements and the direct involvement of "Israeli" banks in control over the Palestinian banking market.

The report, "Financing the Occupation," investigated the involvement of "Israeli" banks in the economy of occupation. It said that "Israeli" banks provide the financial infrastructure for all activities of companies, governmental agencies and individuals in the continuing occupation of Palestine and the Syrian Golan Heights.

The new report identifies six categories of involvement of "Israeli" banks in the occupation, providing mortgage loans for home-buyers in settlements, providing special loans for building projects in settlements, providing financial services to "Israeli" local authorities in the West Bank and the Golan Heights, operating branches in "Israeli" settlements, providing financial services to businesses in settlements and benefiting from access to the Palestinian monetary market as a captive market.

According to the Who Profit website, Merav Amir, Who Profits Research Coordinator, all aspects of "Israeli" control over the Occupied Territories have a financial foundation, and that none of the financial activities of individuals, organizations, governmental institutions and commercial companies could take place without the active support of "Israeli" banks.

"Israeli" banks are principal beneficiaries of financial activities in the illegal Israeli settlements and of "Israeli" control over the Palestinian monetary market."