12:39 PM EDT, 05/01/2024 (MT Newswires) -- Barclays ( JJCTF ) denied allegations Wednesday that it invests in arms manufacturers supplying weapons used by Israel in Gaza, but acknowledged that it may hold shares in Israeli defense firms in relation to client-driven transactions.

The bank said the accusation that it is an investor in nine defense companies supplying Israel "mistakes what we do."

The bank said it trades in shares of listed companies in response to client instruction or demand, which may result in it holding shares. However, "we are not making investments for Barclays ( JJCTF ) and Barclays ( JJCTF ) is not a 'shareholder' or 'investor' in that sense in relation to these companies," the bank added.

The bank also said that its job is to provide financial services to clients, including those in the defense sector.

"Clients in this sector include US, UK or European companies which supply defense products to NATO and other allies including Ukraine," Barclays ( JJCTF ) said.

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