I am writing to inform you that I have closed my Tesco Bank account as a result of the bank’s sale to Barclays, who are now operating under the Tesco Bank brand.
I will not use any Tesco Bank or Barclays service until Barclays stops facilitating and profiting from Israel's war crimes against Palestinians.
Israel’s genocidal bombardment and ground invasion of the besieged Gaza Strip has killed many tens of thousands of Palestinians, a sizable proportion of whom are children. Over 90% of Gaza’s population has been displaced, most multiple times. Entire residential neighbourhoods have been levelled, UN schools sheltering the displaced, and hospitals treating the wounded, have been repeatedly targeted.
The International Court of Justice, the world court, has ruled it plausible that Israel is committing genocidal acts in its assault on Palestinians in Gaza. The International Criminal Court has issued arrest warrants for senior Israeli leaders, including Prime Minister Benjamin Netanyahu, for the war crime of starvation and the crimes against humanity of murder, persecution and other inhumane acts.
The UN Guiding Principles on Business and Human Rights, which Barclays has committed to in its operations, are clear that businesses and financial institutions must take active steps to “avoid causing or contributing to adverse human rights impacts” through both their direct activity and business relationships.
Through its agreement with the State of Israel to act as a primary dealer for its government bonds, Barclays is directly aiding Israel to raise money to fund its genocide and other crimes against Palestinians. Barclays is the only UK headquartered bank to play this shameful role.
Moreover, research by Palestine Solidarity Campaign, War on Want and Campaign Against Arms Trade has found that Barclays provides over £2billion in investment, and over £6.1billion in loans and underwriting, to nine companies supplying Israel with the weapons and military technology it is using to carry out its attacks on Palestinians.
Last year, UN experts warned financial institutions investing in companies arming Israel that they risk “repercussions for complicity in potential atrocity crimes.” Yet, Barclays continues to bankroll Israel’s grave violations of Palestinian rights.
It is simply unconscionable that Barclays has decided to facilitate and profit from the war crimes committed against Palestinians. As a result of Barclays owning and operating under the Tesco Bank brand, I have closed my Tesco Bank account.
I will not use any Barclays or Tesco Bank service going forward, and will encourage others to do the same as a means of preventing further genocidal violence.