Government of Jersey investments with links to Israel and Hamas (FOI)

​​Request

In the Hansard for the 21 May 2024 States Assembly sitting, Deputy Tadier asked if the Chief Minister would be taking steps to "limit any business that we are currently doing with Hamas or with Israel?"

A

Please advise the total investment that the Government of Jersey has in companies with affiliated links to Hamas or Israel, broken down by entity and the names of those entities? 

B

How many companies with links to Hamas or Israel is the Government of Jersey currently doing business with?

Response

It should be noted that Hamas is a proscribed terrorist group under the Terrorism (Jersey) Law 2002 and is designated for the purpose of an asset-freeze under the Sanctions and Asset-Freezing (Jersey) Law 2019. It is also sanctioned by a number of other jurisdictions, including the US and the EU. Citizens and businesses in these jurisdictions are prevented from dealing with funds or economic resources owned, held or controlled by proscribed individuals or entities, or from providing funds or economic resources to them. 

A

The Government of Jersey does not hold any stocks listed on the Israel stock exchange, as confirmed in a previous Freedom of Information response. Please see the link below: 

Government of Jersey fund Investments in Israeli Owned Entities (FOI)​

What is meant by the use of the term “affiliated links” in the question is not known, other than as answered above.

The Government of Jersey holds a globally diversified portfolio, this includes many of the world’s largest listed companies, which serve a global client base and will likely conduct business in Israel, either directly or indirectly. 

Records are not held of the full business interests of such companies and therefore Article 3 of the Freedom of Information (Jersey) Law 2011 applies.

B

As above, comprehensive records are not held of the business activities of investment entities held in the Government of Jersey portfolio, or all of the business interests of global entities with which the Government of Jersey does business, many of whom are likely to service a broad geographic range of clients. Article 3 of the Freedom of Information (Jersey) Law 2011 applies. 

Article applied 

Article 3 - Meaning of “information held by a public authority”

For the purposes of this Law, information is held by a public authority if –

(a)     it is held by the authority, otherwise than on behalf of another person; or

(b)     it is held by another person on behalf of the authority.​