The military junta in Myanmar is one of the world’s worst regimes, murdering, arresting its citizens and committing war crimes including genocide with near total impunity. So you would think Canadian banks concerned about their public image and upholding both international law and human rights practices wouldn’t be so quick to support it.
But a new report out today from Banktrack uncovered that 19 international banks together have invested $65B in companies with ties to the military junta.
Both RBC and TD Bank are on the dubious list of having more than $1B invested.
“The Myanmar military’s campaign of terror is enabled by the complicity of international companies that continue to do business with the illegal junta and its conglomerates. Banks have a responsibility to take action against investees that are complicit in the junta’s atrocities. Now Myanmar is being ravaged by Covid-19 and the military’s response has been to buy more arms, arrest doctors, raid clinics and steal supplies. The people of Myanmar need investors to act now to help stem the tragic loss of life.” — Yadanar Maung, spokesperson at Justice For Myanmar: