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Norwegian Fund Sells Israeli Bank Stakes
The Norwegian sovereign wealth fund has withdrawn its investments from five Israeli banks, including First International Bank of Israel, amounting to a total of $661 million by the end of June 2026. This decision was made on ethical grounds related to these institutions' involvement in human rights violations during the war and conflict in Palestine. The decision was based on an ethics committee assessment confirming that Caterpillar products are used in the illegal demolition of Palestinian property in Gaza and the West Bank, while First International Bank of Israel continued to improve its profitability in the second quarter of the year. The Norwegian sovereign wealth fund, the largest in the world with a value of one trillion dollars, had previously suspended investments in other companies for similar ethical reasons.
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