Thousands cut ties with Barclays over 'its complicity with Israeli genocide, apartheid'

More than 1,500 people closed their accounts with UK banking giant Barclays today in protest at “its bankrolling of Israel’s genocidal attack on Palestinians”, Palestine Solidarity Campaign (PSC) reported in a press release. Thousands more have signed a pledge never to bank with Barclays while it remains complicit with Israel’s apartheid system, PSC added. The Bank faced a similar boycott campaign over its financial support for South African apartheid before eventually being forced to divest in 1986.

Barclays Bank holds over £1 billion ($1.26 billion) in shares and provides over £3 billion ($3.78 billion) in loans and underwriting to nine companies whose weapons, components and military technology are being used by Israel in its genocidal attacks on Palestinians. This includes General Dynamics, which produces the gun systems that arm the fighter jets used by Israel to bombard Gaza, and Elbit Systems, which produces armoured drones, munitions and artillery weapons used by the Israeli military. “By providing investment and financial services to these arms companies, Barclays is facilitating the provision of weapons and technology for Israel’s attacks on Palestinians,” PSC said.

“Today’s mass account closures are part of an on-going campaign aimed at highlighting Barclays toxic banking policies that make it complicit with Israel’s war crimes. Barclays will be the target of social media campaigns, pickets and sit ins until it is forced to prioritise humanity over profit.”

PSC Direction, Ben Jamal, said: “Nobody with a conscience would bank with Barclays in the 1970s and 80s when we fought to stop it supporting the brutal, racist system of South African apartheid. Nobody with a conscience could now bank with Barclays knowing it helps facilitate Israel’s genocidal assault on Gaza. That’s why more than 1500 people are closing their Barclays accounts en masse today, in a clear message that there can be no business as usual during a genocide.”

“Barclays is complicit. We forced Barclays to stop supporting apartheid before, and we’ll force it to stop supporting genocide and apartheid now.”

Barclays did not reply to MEMO‘s request for comment.

Watch: Activists slam Barclays for funding arms suppliers amidst Israel military operations in Gaza