JPMorgan Chase has joined a boycott of hotels owned by the sultan of Brunei after Brunei earlier this month enacted laws that make gay sex punishable by death, the bank told CNN.
In joining the boycott, JPMorgan Chase became the second largest financial institution to avoid the hotels. Deutsche Bank previously said it would boycott the hotels, CNN reported.
A spokesperson with JPMorgan Chase did not immediately return a request for comment to The Hill.
CNN noted that celebrities such as Elton John and George Clooney have urged a boycott of the hotels.
Homosexuality was already illegal in the country and punishable by up to 10 years in prison prior to the implementation of the new laws. But under the new measures, those found guilty of gay sex and adultery may be subject to stoning or whipping.
Hassanal Bolkiah, the sultan for the country, said in a public address when the laws were implemented that he wanted to see "stronger" Islamic teachings as the country adopted Sharia law.
"I want to see Islamic teachings in this country grow stronger," he said.