An investigation conducted by Netherlands-based financial research group Profundo and published by Dutch NGOs BankTrack and Pax has found that a small number of investment banks have played a crucial role in helping Israel meet the “significant funding needs” arising from its war on Gaza by providing significant underwriting services to the Israeli state.

February 14, 2025
Seven underwriters of “war bonds” instrumental in enabling Israel’s assault on Gaza, new research finds
Banks have underwritten Israeli government-issued bonds to the value of $19.4 billion since October 7th, 2023