Sunday, April 10, 2016

Israel warns German banks over anti-Semitic BDS accounts

Via Jerusalem Post:
Public Security Minister Gilad Erdan put a number of German banks on notice that they could face penalties for enabling anti-Israel Boycott, Divestment, Sanction (BDS) groups to raise money through their financial accounts.

“We continue to urge all financial institutions to carefully consider the potential legal, reputational and ethical consequences of facilitating the activities of BDS groups,” Erdan wrote The Jerusalem Post by email on Friday.

The financial industry in Germany, where scores of banks provide accounts to hardcore BDS groups, is on a collision course with Israel and a growing number of anti-BDS laws in the US.

"We have been working extensively over the past half year to increase awareness among decision-makers in Europe and North America of the anti-Semitic, anti-democratic, and discriminatory nature of the BDS movement, which seeks Israel's destruction and often has ties to terror-supporting organizations,” said Erdan.

He added, “This awareness is growing, and is increasingly being translated into counter-BDS legislation, legal rulings against BDS activities, and decisions by Western institutions to end their financial relationships with BDS organizations.”

A Post investigation of German banks revealed a long-standing network of BDS groups using leading German financial institutions to damage Israel’s economy.

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