Germany: City cuts ties to banks that enable Israel boycotts

Via The Jerusalem Post (Benjamin Weinthal):

The deputy mayor of the city of Frankfurt announced on Monday that the municipal government will end all commerce with banks that conduct business with organizations that support a boycott of the Jewish state.

In a statement sent to The Jerusalem Post, Deputy Mayor Uwe Becker wrote that “we will shortly only work together with banks, peoples’ banks, and Sparkassen (public saving banks), who do not maintain business relations with organizations of the antisemitic Boycott, Divestment, Sanctions (BDS) movement or affiliated groups.”

Frankfurt is the first German city to sanction banks and financial institutions for providing services to the BDS campaign targeting Israel. The Frankfurt decision to penalize financial entities could have far-reaching implications for the scores of BDS organizations that operate in Germany.

Frankfurt, with a population of nearly 720,000, is located in the state of Hesse and is considered the banking capital of Germany.

Becker said that he planned to forward letters to banks about the new anti-BDS policy.

Frankfurt’s anti-BDS policy also applies to credit institutions and companies that conduct business with the city of Frankfurt.

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