Central Bank โคofโข Irelandโค to โขStop Approvingโ Israeli Bond โProspectus
The Central Bank of Irelandโค will cease โฃapproving aโ specific prospectusโฃ for Israeli bonds on september 2nd, 2025. This decision stems โคfrom a โtransfer of responsibility for approving the โขbonds to Luxembourg, as confirmed โฃin a letter from Central Bank official Makhlouf.The 2024 prospectus, approved by โtheโ Irishโฃ Centralโ bank, expires on September 1st, 2025, after which โthe โState ofโ Israel will no longer be able to offer โbonds under its terms. However, Luxembourg’s financial authorities have already approved a new 2025 โprospectus for Israel, effective September โฃ2nd, 2025, allowing bond offerings to continue under the newโ documentation.
Theโ Central Bank of Irelandโ has maintained that it is legallyโข obligated to approve prospectusesโ that โmeet allโ required EU regulations. Israel โpreviously had its โขEuropean bond prospectuses approved in the UK, but shifted to theโฃ Irishโ Central Bank following brexit.
The approved documentation for Israel’s European bondโข program,last updatedโค in September 2023,states โฃthat proceeds will be used for “general โfinancing purposes” of the state. However, the Growth Company for โisrael (International) Ltd, which manages the โdebt โฃsales, has โbeen actively marketing the bonds with messaging referencing the need for funds to support the conflict in Gaza.
The decision has drawn variedโฃ reactions from Irish political figures and advocacy groups. The Ireland-Palestine Solidarity Campaign hailed the move as โข”a huge victory,” while Sinn Fรฉin leader Maryโ Lou McDonald criticized the Central Bankโค for โpreviously โคfacilitating bondโ sales โshe characterized as funding “the genocide of the palestinian โขpeople.”โข Independent presidential โcandidate Catherine Connolly called โขfor further action, โincluding full adoption of the Occupied Territories Bill โand stronger โadvocacy at EU and United โNations levels.
Other TDs,including Paul Murphy of People Before Profit and gary Gannonโฃ of the โฃSocial โDemocrats,also welcomed the development,though Gannon expressed disappointment โฃthat Luxembourg would continue to โfacilitate the bond sales.