British advice and financiers have come under fire after a Guardian investigation found many were investing in Qatar National Bank despite its, and the country human rights record.
Saturday’s report. November 12 found that councils like the local authority in Lincolnshire which declared itself happy “to celebrate and recognize the […] lesbian, gay, bisexual and transgender rights” was an investor in the bank.
The survey found that at least 28 councils, all of which expressed solidarity with the LGBT+ community and supported gay pride events, among other things, are investors with the same institution.
Across Britain, many other councils regularly follow suit, showing solidarity with their LGBT residents by supporting events such as pride marches.
As much as £1billion of taxpayers’ money is said to be invested in the bank, even though the country bans homosexuality, treats women and foreign workers as second-class citizens.
Human rights campaigner Peter Tatchell says it is “shocking that the councils continue to invest their money in the country. Likewise, he says investment firms like Halifax and Hargreaves Lansdown, which openly display their diversity, inclusion and labor rights credentials, have poured money into accounts with the lender.
Investments continue despite growing criticism from sports and human rights bodies around the world over Qatar’s human rights record. World Cup organizers have even gone so far as to say it was a mistake to award the country the tournament, which it now uses for global cultural, political and commercial purposes.
If municipalities and financiers are going to change their strategy according to the human rights record of the country is highly unlikely with the yields offered by the bank significantly higher than those available in the UK.
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