UAE welcomes Israeli banks that finance theft of Palestinian land

12-09-2020 15:17

Electronic Intifada


The United Arab Emirates insists that its agreement to normalize relations with Israel was a means to halt Israel’s plans to annex occupied West Bank land.


Yet this month the UAE is welcoming two of the largest financiers of illegal Israeli settlements to its capital.


Delegations from Bank Hapoalim and Bank Leumi will visit Dubai and Abu Dhabi to meet with government officials and heads of the largest banks in the UAE, according to Tel Aviv daily Haaretz.


Hapoalim will lead an Israeli business delegation to the UAE on 8 September, and Leumi will follow on 14 September.


Hapoalim’s CEO Dov Kotler, who’s leading the first delegation, seeks “to establish economic relations and cooperation between our countries and their financial systems,” Haaretz reported.


This comes after the UAE’s central bank signed a memorandum of understanding with Israel on 1 September for financial cooperation.


The governor of the central bank, Abdulhamid Saeed Alahmadi, signed the agreement with Ronen Peretz, director-general of the Israeli prime minister’s office, in the presence of Israel’s national security adviser Meir Ben-Shabbat in Abu Dhabi.


The largest bank in the Gulf state, First Abu Dhabi Bank, announced that it will “open discussions” with Hapoalim and Leumi “to establish banking relationships that will strengthen financial and economic cooperation between UAE and Israel.”



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