NTMA to divest from Israeli companies linked to activities in Occupied Palestinian Territory

The National Treasury Management Agency is to divest from Ireland Strategic Investment Fund investments in six Israeli companies linked to activities in the Occupied Palestinian Territory.It will sell shareholdings totalling €2.95m in six companies - Bank Hapoalim BM; Bank Leumi-le Israel BM; Israel Discount Bank; Mizrahi Tefahot Bank Ltd; First International Bank and Rami Levi CN Stores, one of Israel's leading supermarket chains.

The Minister for Finance said ISIF has determined that the risk profile of these investments is no longer within its investment parameters and that the commercial objectives of these investments can be achieved via other investments."I am advised ISIF will keep under review the alignment of relevant investments within its investment parameters and commercial objectives," he said in a statement.

"While recognising the independence of ISIF in the management of the investment portfolio, I believe this is the correct investment decision in respect of the assets it manages on behalf of the State," he added.

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Ireland Strategic Investment Fund to Divest from Israeli Companies in Occupied Palestinian TerritoriesThe Ireland Strategic Investment Fund (ISIF) will sell its shareholdings in Israeli companies operating in the Occupied Palestinian Territories due to the perceived risk profile of the investments, valued at under €3 million. The fund will also review other investments in the region to ensure alignment with its investment parameters and objectives.
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