The Norwegian Sovereign Wealth Fund NBIM HAS Withdrawn from Five Israeli Banks. In Addition, The Fund Has Sold Shares in the American Company Caterpillar. The Decision was Made on Ethical Grounds, Due to the Situation in The Gaza Strip and the Occupied West Bank.
These are The Banks Hapoalim, Bank Leumi, Mizrahi Tefahot Bank, First International Bank of Israel and Fibi Holdings.
NBIM Writes in a Statement That Is A High Risk That the Aforementioned Companies and Machine Manufacturer Caterpillar Contribute to Rights Violations in Times of War. The Israeli Army Makes Extensive use of Armored Versions or Caterpillar Bulldozers, Including to Demolish Houses and Infrastructure in Palestinian Territories.
NBIM Falls Under The Norwegian Central Bank and Manages The Country’s Savings Pot. It is Filled with Income from Norway’s Oil and Gas reserves. The Fund Invests Worldwide in, Among Other Things, Shares and Real Estate.
In June, The World’s Largest Sovereign Wealth Fund, Interests had in 61 Israeli companies. NBIM Sold The Shares of Eleven of Those Companies This Month. The Fund Held Shares in Israeli Companies That Together Were Were Were 1.7 Billion Euros at the End of 2024.