Campaigners are celebrating after news that The Public Institution for Social Security (PIFSS) in Kuwait has decided to divest its funds from G4S, following pressure by activists in the Palestinian-led Boycott, Divestment, and Sanctions (BDS) movement.
Last month, a parliamentary inquiry by Kuwaiti MP Faisal Al-Duwaisan directed to the Ministry of Finance was submitted raising questions about the nature of the shares that PIFSS, which runs a social security system for Kuwaiti nationals, held in G4S.
In his response to the parliamentary inquiry, the Kuwaiti Minister of Finance, who is also the Chairman of the Board of Directors for the PIFSS, confirmed that PIFSS has sold all its shares in G4S.
G4S, a British-Danish security company, announced in March its intention to exit the Israeli market following mounting global pressure and financial losses incurred as a result of BDS campaigns. However, campaigners are concerned that the company will not follow through on its promises.
Guman Mussa, BDS Campaigns Coordinator in the Arab World, welcomed the new victory, saying: “We shall continue with our campaigns against G4S both globally and in the Arab world due to its complicity in crimes committed by the occupation, knowing that BDS activists – from Kuwait, Lebanon and Jordan to Egypt and Morocco – are escalating the pressure against the company.”