Barclays faces growing protests over allegations of arming Israel through substantial financial investments in arms companies. (Photo/ The Telegraph)
(EPICSTORIAN) – Pro-Palestine protesters have intensified their campaign against Barclays, accusing the bank of financing companies supplying arms to Israel.
Demonstrations erupted outside Barclays branches, drawing parallels to the bank’s role during the South African apartheid era, Telegraph reported Saturday.
The protests, organized by the Palestine Solidarity Campaign (PSC), follow the escalation of violence in Gaza since October 7.
The PSC alleged that the financial institution has financial ties to companies providing weapons to Israel, claiming, “Barclays is bankrolling Israel’s genocidal assault on Palestinians through its substantial financial ties with arms companies that sell weapons to Israel.”
According to the PSC, the bank has invested over £2 billion in companies linked to arms sales to Israel and offers financial services worth £6.1 billion to the same entities.
Barclays Denies Alleged Ethical Concerns Raised By Pro-Palestine Activities
A Barclays spokesperson defended the bank’s operations, emphasizing its commitment to human rights and adherence to international laws .
“Barclays is committed to respecting human rights as defined by the International Bill of Human Rights,” the spokesperson stated.
The bank explained that it maintains strict policies and due diligence procedures for its dealings in the defense and security sectors.
“Our published statement on defense and security outlines restrictions on certain financing activities and requires enhanced due diligence on clients in the sector,” the spokesperson added.
The PSC insists that the financial sector has a responsibility to uphold ethical standards, calling for boycotts related to those targeting apartheid South Africa.
Protesters have vowed to continue pressuring the bank to sever ties with companies involved in arms deals.
