Danish Banks To Divest From Israeli Companies
by Saed Bannoura
IMEMC News & Agencies
January 27, 2010
The Danske and Pensioner Bank (PKA) have decided to withdraw all investments from two Israeli companies, Elbit and Magal Security Systems, for their role in constructing the annexation wall in the occupied West Bank.
The decision came after human rights groups and boycott campaigns declared the wall to be in violation of an advisory ruling made by the Hague International Court.
The two Danish banks also decided to divest from Africa-Israel Company, owned by Jewish billionaire Lev Leviev, for its role in financing the construction of settlements and the wall.
Elbit Systems provide Israel with surveillance equipment installed atop the annexation wall while Africa-Israel invests in settlement construction within the occupied West Bank.
The Pensioners Bank also decided to withdraw investments from American Detection Systems for their role in the wall's construction.
These decisions were made as Israel declared it's intent to begin new construction of the wall on Palestinian lands west of Ramallah. This new section will annex more Palestinian land in order to expand the illegal settlement of Illit.
International Middle East Media Center
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