CAIR-NJ Denounces NJ’s Reinvestment in Israeli Bonds and Ongoing Stake in Palantir, Urges Immediate Divestment
FightBackBetter Editorial Staff Unanimously Approves the demands of CAIR and other NJ groups as stated in this press release.
(NEWARK, NJ – 2/4/2026) — The New Jersey chapter of the Council on American-Islamic Relations (CAIR-NJ), a chapter of the nation’s largest Muslim civil rights and advocacy organization, strongly condemned the New Jersey Division of Investment’s decision to reinvest $15 million out of a $20 million allocation of public pension funds into Israeli bonds.
CAIR-NJ also condemned the State of New Jersey’s continued $144 million investment in Palantir Technologies, a controversial data analytics and surveillance company linked to widespread civil rights violations, including enabling Immigration and Customs Enforcement (ICE) to conduct aggressive raids and detentions that have intensified in recent weeks.
These actions come despite months of opposition from New Jersey residents, labor groups, pension holders, and advocacy organizations who have repeatedly urged the state to divest from both Israeli bonds and Palantir.
On Wednesday, January 28th, at the annual state investment meeting, Division of Investment Director Shoaib Khan confirmed that $15 million of a $20 million allocation was reinvested in Israeli bonds. Khan defended the decision by noting that Israeli bonds have remained part of the investment-grade portfolio since the early 1990s.
He further stated, “The decision to reinvest in Israeli bonds was made after careful analysis by the Division’s fixed income group, which determined that from a credit fundamental and evaluation perspective, the yields of the bonds were superior to other offerings with similar credit ratings.”
However, the move drew immediate concern from State Investment Council (SIC) Vice Chair Adam Liebtag, who questioned both the process and timing of the decision. Liebtag stated:
“I have reservations about the decision and given the very small size of this investment relative to the entire portfolio, I didn’t see the urgency to make this decision without further consultation and discussion amongst the members of the council, the ESG committee and the IPC. I think at worst you should have waited until there was further discussion. The division could have presented its rationale for doing this to a broader group before executing its decision. I would like to use this to improve the process going forward.”
Liebtag’s remarks highlighted a significant breakdown in oversight, as none of the bodies tasked with evaluating ethical, social, or governance implications were engaged prior to reinvesting public funds.
In a statement, CAIR New Jersey Government Affairs Associate Maheen Mumtaz, said:
“This reinvestment ignored public testimony, sidelined oversight bodies, and dismissed serious human rights concerns,” said Mumtaz. “Moving forward with investments tied to the genocide in Gaza and ICE-linked surveillance without transparency or consultation is unacceptable.”
CAIR-NJ reiterates its call for an immediate divestment from Israeli bonds and Palantir Technologies. We also call for full transparency in all the Division’s investment decisions, mandatory consultation with the State Investment Council, ESG Committee, and IPC before reinvesting public pension funds.
CAIR’s mission is to protect civil rights, enhance understanding of Islam, promote justice, and empower American Muslims.
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CONTACT: CAIR-NJ Executive Director Selaedin Maksut, 862-264-9414, smaksut@cair.com
