CorporateNegative · Do not buyBusiness Recorder

Pakistan joins seven Muslim nations in welcoming UK ban on goods from illegal West Bank settlements

Pakistan and seven other Muslim countries praised the United Kingdom’s decision to prohibit imports from illegal Israeli settlements, urging broader international action and reaffirming support for a two‑state solution.

Full article on Business Recorder

Share

Pakistan joins seven Muslim nations in welcoming UK ban on goods from illegal West Bank settlements — Banks | Shariah PSX

Desk Analysis

How This Affects the Exchange

Sector Effect

Negative · Do not buy

Political statement with no direct effect on PSX sectors or listed companies; watch for any secondary market sentiment.

Sectors & Direction

Desk read

Desk call: Do not buy · Negatively affected

  • BanksNegatively affected

Companies

MEBL · Do not buyMCB · Do not buyUBL · Do not buyHBL · Do not buyBAHL · Do not buyFABL · Do not buy

Companies Mentioned

  • · Negatively affected · Do not buy
  • · Negatively affected · Do not buy
  • · Negatively affected · Do not buy
  • · Negatively affected · Do not buy
  • · Negatively affected · Do not buy
  • · Negatively affected · Do not buy

Mentions in This Briefing

Sectors: Banks Negative · Do not buy. PSX tickers: MEBL, MCB, UBL, HBL, BAHL, FABL. Political statement with no direct effect on PSX sectors or listed companies; watch for any secondary market sentiment.

Full Story

Open on Business Recorder

## Background

On Wednesday, Pakistan, together with Turkey, Egypt, Indonesia, Jordan, Qatar, Saudi Arabia and the United Arab Emirates, issued a joint statement welcoming the United Kingdom’s recent ban on the import of goods originating from illegal Israeli settlements in the Occupied Palestinian Territory. The statement called for similar measures worldwide and reiterated that a two‑state solution remains the only viable path to lasting peace.

## Details of the UK decision

The UK government announced a prohibition on importing products from the settlements and introduced restrictions on services linked to those areas. The move aligns with United Nations Security Council Resolution 2334 (2016) and the International Court of Justice’s advisory opinion of 19 July 2024, which deem the settlements illegal under international law.

## International response

The foreign ministers of Canada, Denmark, Finland, France, Iceland, Ireland, Norway, Poland, Portugal, Spain, Sweden and the United Kingdom also released a joint statement supporting the two‑state solution and indicating intentions to adopt national or European restrictions on trade with the settlements.

## Calls for broader action

The ministers urged the global community to build on the UK’s steps, adopt concrete measures to halt support for illegal settlements, and hold accountable those involved in settlement activities. They also emphasized the need for the full implementation of a comprehensive plan for Gaza, referencing President Trump’s proposal, to address humanitarian needs and foster stability.

## Political context

The statement reaffirmed the view that Gaza is part of the Occupied Palestinian Territory and called for Israel to rescind all settlement‑related measures. The ministers highlighted that a sovereign, contiguous Palestinian state based on the pre‑1967 borders, with East Jerusalem as its capital, is essential for a just and lasting peace.