Boycot Israel 41

Belgian campaign targets bank financing Israeli settlements

In a remarkably short period of time, activists in Belgium have built a strong basis for the campaign "Israel colonizes -- Dexia funds," asking the bank to divest from its subsidiary Dexia Israel because of its financing of the expansion of illegal settlements in the Occupied Palestinian Territories. The Israeli settlements violate Article 49 of the Fourth Geneva Convention, prohibiting the Occupying Power to deport or transfer parts of its civilian population into the territory it occupies, as well as Article 53 prohibiting the destruction of property on occupied territory. The Dexia campaign is flourishing in Belgium and may potentially spread to other countries where Dexia subsidiaries are based.

The French-Belgian bank Dexia bought the Israeli Municipality Treasure Bank in 2001 and established Dexia Israel. Centrum voor Ontwikkeling, Documentatie en Informatie Palestijnen (CODIP), an organization focusing on Palestine, raised its concern about the transfer in a letter to Dexia's board of directors in April 2001. The organization argues that Dexia's investment in an Israeli bank involved in public loans might give the impression that the bank "supports Israel's policy of occupation, colonization and discrimination."

Seven Belgian organizations decided to join forces in the Dexia Committee in 2008. The committee summoned the help of the Who Profits from the Occupation? project to investigate the relationship between Dexia and Israel's occupation. In late October 2008, Who Profits informed the Dexia Committee that Dexia Public Finance Israel is involved in activities in the illegal settlements. This was clear from statements by the CEO of Dexia Israel to the Israeli parliament, that since 2005 long-term loans and other financial services were given to at least seven Israeli municipalities in different regions of the occupied West Bank, including Ariel, Alfei Menashe, Beit Aryeh, Beit-El, Elkana, Har Hebron, Kedumim and Givat Zeev.

Deputy executive vice-president of public finance, Francois Durollet, told the campaigners on 16 November 2008 that Dexia Israel was called to account in Israel's parliament, because it did not pay enough attention to funding of the development of settlements.

The Dexia Committee successfully rallied for support from the Belgian parliament, city councils and districts. This resulted in questions in parliament, and decisions to support the campaign of one province and 18 city councils support the Dexia campaign. This is relevant, because the Belgian government, regions and municipalities hold respectively 5.7 percent, 5.7 percent and 14.1 percent of Dexia shares.

The public in Belgium has responded positively to the Dexia campaign. During a massive demonstration against the Israeli attacks on Gaza in Brussels on 11 January, in which 70,000 citizens participated, participants threw shoes at the Dexia offices to show their dissatisfaction with the bank's investments in the illegal settlements. An informational meeting organized at the end of January was attended by 265 persons and 60 individuals had to return home because of the meeting hall was at capacity. In a video message from Ramallah, Omar Barghouti, a leader of the Palestinian boycott, divestment and sanctions movement, spoke to the audience about the need to become active in the Dexia campaign. Several weeks later, many responded to the call to phone Dexia's complaints service and ask for the bank's divestment from Dexia Israel during the week of 16-20 March.'
Lees verder: http://electronicintifada.net/v2/article10434.shtml