Israeli government officials commended the major UK bank for "resisting anti-Semitic and anti-Israel pressures" after it reportedly drew up plans to cut ties.
Barclays has reversed plans to withdraw from participating in future Israeli government bond auctions.
According to the Financial Times, the bank was reevaluating its financial involvement in Israel due to criticism and pressure from pro-Palestinian activists, citing people familiar with the matter.
The Financial Times reported Barclays had prepared to leave the market in recent weeks in a attempt to “quieten criticism about its relations to Israel during the war in Gaza”, but on Tuesday evening, Barclays reportedly informed Israeli officials that it planned to continue to work as a so-called primary dealer, where it does so alongside other international players including Goldman Sachs, JPMorgan Chase and Deutsche Bank.
Members of the House of Lords welcomed the decision with around 50 cross-party members, including Lord Leigh, Baroness Altmann, Lord Fink and Lord Mendelsohn penning a letter to the Barclays chairman Nigel Higgins. They expressed their “support for Barclays’ principled decision to continue participating in the auction of Israeli government bonds” and noted the “immense importance” of the relationship between Israel and the UK. They wrote: “We believe it is vital that the UK remains a steadfast partner to Israel, and that businesses like Barclays continue to support the legitimate economic activities that contribute to the security and prosperity of both nations.” They urged the bank to “remain resolute in the face of continuing challenges.”
The Accountant General, Yali Rothenberg, commended the UK lender’s decision, noting Barclays’ “long-standing partnership and significant relations with the State of Israel and its vibrant economy.”
He said: “If the report is indeed accurate, we appreciate the bank’s statement affirming its continued commitment to the State of Israel. Barclays’s decision to resist anti-Semitic and anti-Israel pressures, particularly those promoted by BDS movements, is commendable. Such pressures represent a shameful attempt to undermine both Israel and the broader Western world.
“The State of Israel is currently engaged in a war against radical Islamic terrorist organisations such as Hamas, Hezbollah and the Houthis, backed by the Iranian regime. A war that forced upon it, following the horrific October 7 massacre of innocent Israeli women, children, and men. It is crucial that leading global financial institutions, such as Barclays, choose to resist boycotting Israel and support its legitimate right to self-defense as a leading western democracy.”
Barclays has been the target of increasing pressure from pro-Palestinian activists in recent months, calling for a boycott of the bank over alleged investments in defence companies that supply arms used by the Israel Defense Forces.
In June, twenty branches of Barclays Bank across the UK were vandalised, including as part of a coordinated campaign by pro-Palestine activists and the same month, the bank suspended its sponsorship of all Live Nation festivals in response to a boycott of concerts by artists protesting about the bank’s alleged ties to defence companies supplying Israel.
Barclays is ranked as the third most active buyer of Israel bonds at auctions among the 12 official primary dealers last year, according to official statistics. But it had fallen to 11th in the three months to the end of June.
15/08/2024 by JEWISH NEWS
No hay comentarios:
Publicar un comentario