Memorandum to the Management of the Employees Provident Fund (EPF)

THE EPF MUST END ALL LINKS WITH BLACKROCK

We, the undersigned, would like to urge EPF to immediately cease all links with BlackRock.

Our call is motivated by the ongoing genocide by Israel against innocent civilians of Gaza and the need for our government and government-link companies, such as EPF, to be aware of their humanitarian obligation to end all possible complicity with genocide, the crime of crimes.

BlackRock is a company that funds and profits from genocide:

1. It has massive stakes in the defence companies that form the US military-industrial complex that makes the weapons Israel uses to murder Palestinians.
2. It has also been heavily invested in Israel, with operations there since 2016. By continuing to do so, it is refusing to acknowledge the apartheid and genocidal policies of Israel against Palestinians.
3. Its CEO, Larry Fink, is a staunch supporter of the apartheid regime in Israel and a cheerleader of the Israeli genocide of Palestinians in Gaza.

BlackRock has rightly been the target of Palestinian solidarity campaigns worldwide. This call is made purely on humanitarian grounds for the long-suffering people of Palestine and not motivated by any desire for domestic political points-scoring or vendetta. It matters not under which governing political coalition that relationship with BlackRock was first forged or that it has had minority shareholdings through open-market acquisitions in Malaysian blue-chip stocks. None justifies continuing a relationship with it once its complicity with genocide is known.

Zionism (and the project it spawned called Israel) no longer has any intellectual or moral leg to stand on. Its only recourse to counter criticisms of its existence and actions is to suppress them through brute financial clout and what that could buy. This is evident when we observe the following:

1. The violent suppression by law enforcement in the US and Europe of the freedom of speech and expression of university students who are standing up for Palestinian rights. Zionist mobs, too, were used. The mayor of New York City was promised millions in campaign funds to persuade him to instruct the police to move in and take down student protest encampments at Columbia University.
2. The Zionist lobby’s almost complete control of the US Congress through the use of ‘campaign contributions’ to the point that laws are passed where it appears that those elected representatives are working for Israel and not the US when it comes to American foreign policy in the Middle East.
3. The media in the West are instructed to conform to the Zionist agenda in its editorialising and reporting. Otherwise, errant editors and reporters face the sack.
4. The use of paid provocateurs to disrupt peaceful pro-Palestine marches in London. This is to provide the opportunity for those in the political and media establishment who want to brand said marches as ‘hate’ and ‘antisemitic ’ rallies.

The purpose of stating the above cases, and they are just a handful of examples among many, is to illustrate how Zionist money is weaponised. That being the case, those who want to see the genocide and war crimes end in Palestine should do the logical thing and not provide any money to the Zionists.
Currently, EPF allows BlackRock to manage US$200 million (RM932 million) of EPF money, from which it earns millions in fees.

The demise of Zionism and its project, Israel, is an inevitability. The duty of the Malaysian government, EPF and all of us is to make the inevitable happen sooner rather than later – for the sake of the Palestinian people and genuine and permanent peace in the Middle East. We, therefore, call on EPF to immediately terminate BlackRock from the abovementioned fund management arrangement because of its complicity in genocide and also to stop it from getting any more fees from EPF which will only
further, fatten its Zionist war chest.

23 May 2024

1. BDS Malaysia
2. Pertubuhan Agenda Wanita Malaysia (AGENDA)
3. ACCIN
4. ⁠Friends of Palestine (FoP)
5. ⁠Muslim Care Malaysia
6. ⁠Palestinian cultural organisation Malaysia PCOM
7. Majlis Perundingan Pertubuhan Islam Malaysia
8. Sekretariat Himpunan Ulama Rantau Asia
9. Aliansi Masjid Sedunia Pertahan Al Aqsa.
10. Malaysia – Palestine Workers Union Social Service
11. MyCARE
12. KDMRSM
13. SEJAGAT
14. Citizens International
15. HALUAN Malaysia
16. Association of UM Ex-Professors.
17. Palestinian Progressive Association Malaysia PPA-M.
18. Viva Palestina Malaysia (VPM)
19. Volunteering Trip Malaysia
20. Persatuan Akademia IKRAM Malaysia
21. Persatuan Belia Harmoni Malaysia
22. Muslim Volunteer Malaysia