In May 2024, we supported a world-first legal complaint to Ireland’s Criminal Assets Bureau (CAB). The complaint targets the Ireland Strategic Investment Fund (ISIF) for investing in 11 companies linked to Israeli war crimes, particularly those supporting illegal settlements and military operations in Gaza. The complaint argues that revenue generated from these investments constitutes proceeds of crime and should be seized under Irish law.
In July 2025, ISIF confirmed that it had divested from all Israeli government bonds, following a separate complaint that these bonds were partially funded by taxes from illegal settlements.
ISIF is a sovereign development fund with a mandate to invest, in order to support economic activity and employment in Ireland. ISIF has investments with a total value of €4.2 million in eleven companies listed on the UN database of companies involved in the Israeli settlements. These particular companies support the settlements through banking, tourism, communications and retail activities. One of them, Motorola, is also providing communications devices which are being used by the Israeli military in its attack on Gaza.
The complaint applies proceeds of crime and anti-money laundering legislation to investments tied to war crimes committed by Israel in the occupied Palestinian territories.
Crimes including:The Irish government warns that investments in or benefitting from Israeli settlements “entail legal and economic risks stemming from the fact that the Israeli settlements, according to international law, are built on occupied land and are not recognised as a legitimate part of Israel's territory.” Several other European governments, including the UK, have issued similar advice.
ISIF announces its intention to divest from six of the eleven companies linked to Israeli war crimes. According to the complaint, the proceeds of the sale of these shares are also tainted by Israel’s criminal conduct.
Global Legal Action Network (GLAN), Al-Haq and Sadaka – the Ireland Palestine Alliance and submit the first ever complaint of its kind globally to Ireland’s Criminal Assets Bureau (CAB) against the Ireland Strategic Investment Fund (ISIF), concerning its investments in 11 companies linked to Israeli war crimes.
In its annual report for 2024, ISIF confirms it has divested from all Israeli government bonds.
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