{"id":36439,"date":"2025-09-01T12:13:06","date_gmt":"2025-09-01T12:13:06","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/36439\/"},"modified":"2025-09-01T12:13:06","modified_gmt":"2025-09-01T12:13:06","slug":"central-bank-of-ireland-confirms-it-will-no-longer-approve-sale-of-israeli-war-bonds-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/36439\/","title":{"rendered":"Central Bank of Ireland confirms it will no longer approve sale of Israeli \u2018war bonds\u2019 \u2013 The Irish Times"},"content":{"rendered":"

Central Bank of Ireland<\/a> approval for Israeli<\/a> bonds will not be renewed after its expiry on Monday, with Luxembourg<\/a> now authorised to market them in the European Union.<\/p>\n

Central Bank governor Gabriel Makhlouf indicated the move on Monday in a letter to the Oireachtas Committee on Finance deputy chairwoman, Sinn F\u00e9in TD Mair\u00e9ad Farrell<\/a>.<\/p>\n

It means the Central Bank will no longer approve European prospectuses for the sale of Israeli bonds that the Development Company for Israel (International) Ltd, which sells debt on behalf of Israel, has been marketing on its website in the context of the country needing funds to fight the Gaza war.<\/p>\n

The Central Bank had been under mounting political pressure over its approval for Israeli debt because of anger at Israel\u2019s military campaign in the Gaza Strip<\/a>, which has led to tens of thousands of deaths in the Palestinian territory and the declaration by the United Nations<\/a> of a famine. <\/p>\n

Mr Makhlouf said in his letter that responsibility for approving the bonds in question had transferred to Luxembourg.<\/p>\n

[\u00a0Protesters hold demonstration against Central Bank\u2019s role in sale of Israeli bondsOpens in new window<\/a>\u00a0]<\/p>\n

\u201cThe Central Bank\u2019s approval of the 2024 prospectus will expire today, 1 September 2025. Accordingly, from 2 September 2025, it will not be possible for the state of Israel to offer bonds under the 2024 prospectus,\u201d he said, referring to an Israeli bond prospectus issued on in September 2024<\/p>\n

\u201cIn accordance with the provisions of the prospectus regulation concerning home member states and the transfer of approval (Article 20(8)), the competent authority of Luxembourg approved a new prospectus for the state of Israel today, 1 September 2025 (the 2025 prospectus).<\/p>\n

\u201cAccordingly, from 2 September 2025, it will not be possible for the state of Israel to offer bonds under the 2024 prospectus,\u201d he said, adding that regulators in Luxembourg had approved a new prospectus for the state of Israel, effective from Monday. <\/p>\n

The Central Bank had consistently said it was legally obliged to approve prospectuses once they contain all the necessary information as required under EU prospectus. <\/p>\n

Israel traditionally had its European bond prospectuses rubber-stamped in the UK, but turned to the Central Bank of Ireland for authorisations after Brexit. <\/p>\n

The latest information note on its European bond programme, approved by the regulator in September 2023, states that the net proceeds from its programme \u201care intended to be used for the general financing purposes of\u201d the state of Israel.<\/p>\n

However, the agency that sells debt on behalf of Israel, the Development Company for Israel (International) Ltd, has been marketing bonds on the home page of its website in the context of the country needing funds to fight the Gaza war.<\/p>\n

The Ireland-Palestine Solidarity Campaign welcomed the development, with its chair Zo\u00eb Lawlor saying \u201ctoday is a huge victory for the people of Ireland who stand resolutely in solidarity with the people of Palestine\u201d. <\/p>\n

Sinn F\u00e9in leader Mary Lou McDonald said the Central Bank should never have been engaged in facilitating the sale of bonds that are \u201cfacilitating of the financing of the genocide of the Palestinian people\u201d. <\/p>\n

Independent presidential candidate Catherine Connolly said it was \u201can important and overdue step\u201d. <\/p>\n

\u201cIreland must now go further \u2013 from full adoption of the Occupied Territories Bill to stronger action at EU & UN level,\u201d she said in a post on X.<\/p>\n

People Before Profit Paul Murphy TD said it was the \u201cglobal Palestine solidarity movement that has achieved this important win\u201d. <\/p>\n

Social Democrat TD Gary Gannon said he believed no EU financial institution \u201cshould be involved in raising funds which are used to annihilate innocent civilians\u201d and that he was deeply disappointed that Luxembourg would continue to facilitate the sale of the bonds.<\/p>\n","protected":false},"excerpt":{"rendered":"Central Bank of Ireland approval for Israeli bonds will not be renewed after its expiry on Monday, with…\n","protected":false},"author":2,"featured_media":36440,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[9,10,22767,18,2219,13,14,28294,3761,6,19,17,71,11,12,15,16,28295,5,7,8,2863],"class_list":{"0":"post-36439","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-headlines","8":"tag-breaking-news","9":"tag-breakingnews","10":"tag-central-bank-of-ireland","11":"tag-eire","12":"tag-european-union","13":"tag-featured-news","14":"tag-featurednews","15":"tag-gabriel-makhlouf","16":"tag-gaza-strip","17":"tag-headlines","18":"tag-ie","19":"tag-ireland","20":"tag-israel","21":"tag-latest-news","22":"tag-latestnews","23":"tag-main-news","24":"tag-mainnews","25":"tag-mairead-farrell","26":"tag-news","27":"tag-top-stories","28":"tag-topstories","29":"tag-united-nations-un"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/36439","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=36439"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/36439\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/36440"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=36439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=36439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=36439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}