In a report based on publicly available data by consultancy firm Profundo and some NGOs, it is claimed that amongst others, Barclays, Bank of America, Citigroup, Goldman Sachs, and JP Morgan financed US-based companies that produce cluster bombs.
Barclays claimed that it is against their policy to finance the production of cluster bombs. None of the banks provided further comments on the matter. However, the producers were allowed to use the money for any of their weapons.
An international ban on cluster bombs is to come into force when 30 nations have ratified the convention. So far 23 have done it. Amongst those who haven't are Britain and the US, where these five banks are based.
