LEGAL CONSIDERATIONS FOR BANKS OPERATING IN CONFLICT ZONES

Abstract

This LL.M thesis examines the legal responsibilities of commercial banks operating in conflict zones, with a particular focus on the comparative experiences of Gaza and Ukraine. It investigates how international humanitarian law, human rights obligations, and financial governance frameworks shape the conduct of banks during armed conflict. The study evaluates the capacity of financial institutions to navigate regulatory challenges, legal fragmentation, and operational disruption while maintaining compliance with applicable legal norms. The study adopts doctrinal and comparative methodologies to assess the applicability of key international instruments, including the Geneva Conventions and the UN Guiding Principles on Business and Human Rights, alongside domestic regulatory systems. In Gaza, the analysis highlights severe institutional collapse, extraterritorial control, and legal incoherence, which have rendered formal financial governance inoperative. In contrast, Ukraine presents a model of legal adaptability, emergency regulation, and partial compliance continuity despite the conflict. This comparative lens enables the thesis to identify structural gaps in legal accountability, the fragility of banking infrastructures under siege, and the limitations of soft law tools in high-risk environments. The research contributes to the emerging field of wartime financial governance by providing practical legal and policy recommendations aimed at enhancing compliance, regulatory resilience, and protection of economic rights. It calls for strengthened due diligence obligations, international oversight in post-conflict recovery, and the development of flexible legal mechanisms to support financial institutions operating amid crisis.

Date of Award	2025
Original language	American English
Awarding Institution	HBKU College of Law