The Central Bank’s authorisation of the sale of Israeli State bonds expires as of Monday, September 1. Pro-Palestine protestors have continuously called out the Irish institution’s role in “facilitating genocide” in Gaza, as the money raised is used for military purposes.
Israel’s bond issuance programme shared a document on September 1, confirming that the approval process for fundraising in the EU has been moved to the Grand Duchy of Luxembourg. It also did not include Ireland as one of the member states where its war bonds will be sold.
Central Bank Governor Gabriel Makhlouf similarly confirmed the news in a letter to Mairéad Farrell, the chairperson of the Oireachtas Committee on Finance. The Irish institution continuously maintained that it was legally obliged to approve prospectuses if they met all the EU requirements.
Farrell, a Sinn Féin TD, had urged the Central Bank not to renew its “facilitation of Israeli war bonds” given the country’s ongoing actions in Gaza.
“We’ve seen untold levels of death and destruction carried out by the IDF on a helpless civilian population,” she said. “Gaza is now in a severe state of famine as the IDF and Israeli government have been blocking the entry of food aid.
“We know the money that is raised via the Central Bank’s facilitation of these bonds is being used for military purposes and to support the ongoing genocide. Ireland has obligations under the Genocide Convention that are not being met.”
Farrell added, “These war bonds are now coming up for renewal. The time has come for the Central Bank and the government to say no more.”
The move is being hailed as a win for activists, with the Ireland Palestine Solidarity Campaign (IPSC) calling it “A victory for people power!” and congratulating “all the tireless campaigners”.
The group added, “This is down to the immense work of everyone who supported our campaign to stop this shameful practice. Well done!
“Of course they shouldn’t be sold anywhere, and that’s why we keep up the work to isolate Israel for its genocidal crimes against the Palestinian people.”
The IPSC also called on its colleagues in Luxembourg to get the sale stopped there.
Since October 7, 2023, over 63,000 people have been killed in Gaza, and a man-made famine has also been declared due to the aid blockade imposed by Israel since March.
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