Retrospective on Mereille Najm, “The Price of Resolution: Switzerland and the Holocaust Victims” from Austria and Switzerland at the Crossroads Perspectives on Business and Economics, Volume 18, 2000 Mereille (Najm) Ziade is an account manager at Monalisa Fashions, Inc. in Allentown, PA. The author discusses how Switzerland’s banking system came under scrutiny regarding its role during the Holocaust. Swiss banks held many dormant accounts for Holocaust victims and survivors. How has the Swiss bank restitution payment benefited Holocaust victims and survivors? A 1998 restitution settlement led to creation of the Swiss Bank Settlement Fund, to process and resolve claims from Holocaust survivors and their families. Totaling $1.25 billion, “over 458,400 Holocaust victims and their heirs in every U.S. state, and in more than 80 nations” (Gribetz, J. & Reig, 2020) were paid restitution. A portion was for payments to refugees who had been turned away from the Swiss border. “From December 2001 through early 2005, the Claims Conference paid a total of $10.6 million to 3,858 former refugees” (Swiss…, 2016). Before the payment, that group of refugees had not been formally recognized. It brought light to the stories of thousands of Holocaust survivors. Each victim who received payment also had a small story published about their experience. “Jewish Holocaust survivors who were denied entry into, or expelled from, Switzerland, received $3,625 [each]” (Swiss…, 2016). The funding was also used for humanitarian and educational programs to shed light on Holocaust victims and survivors, as well as preservation, historical research, and documentation. This furthered understanding the extent of—and better addressing—the injustices. Have all dormant Swiss bank accounts from the Holocaust been uncovered? In short, no, not all dormant Swiss bank accounts from the Holocaust era have been uncovered. While significant progress has been made, it is difficult to say definitively that all such accounts have been identified and resolved. In February 2001, a few months after this article was published, the Claims Resolution Tribunal (CRT) published “names of the owners of approximately 21,000 accounts that probably or possibly belonged to victims of Nazi persecution” (Claims…, 2024). Today, the CRT of the Holocaust Victim Assets Litigation is closed. The website is maintained by the US Holocaust Memorial Museum. In December 2015, a new policy was enacted that requires Swiss banks to “publish the names of any client with whom they have had no contact for the past 60 years, provided their account holds at least CHF500” (Allen, 2024). Swiss banks have continued to identify remaining dormant accounts and to reach out to potential claimants. This can include working with organizations dedicated to Holocaust remembrance and restitution. References Allen, M. (2024, January 28). Swiss publish dormant bank account list. SWI swissinfo.ch. Claims resolution tribunal. (2024) EHRI Portal. Copywrite EHRI Consortium 2024. Gribetz, J. & Reig, S.C. (2020, April 14). Swiss Banks Settlement: In re Holocaust Victim Assets Litigation – Overview. 2006-2007 Holocaust Victim Assets Litigation (Swiss Banks) CV-96- 9849. Swiss banks settlement: refugee class. (2016, March 1). Claims Conference: Conference on Jewish Material Claims Against Germany. Retrospective by Randi Conroy ‘25 Finance, with mass communication minor Martindale Retrospectives 4 November 2024
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