Ireland's central bank to stop approving sale of Israeli 'war bonds'

The Development Company for Israel sells the bonds on Israel's behalf to fund the country's military operations in Gaza

Irish and Palestinian flags fly side by side in a Republican memorial garden in the Republican Falls Road in Belfast on October 23, 2023. (AFP)

Irish and Palestinian flags fly side by side in a Republican memorial garden in the Falls Road, Belfast, 23 October 2023 (AFP)

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Ireland's central bank has said it will no longer approve the sale of Israeli "war bonds" in a landmark move.

The Central Bank of Ireland is the only regulating authority in the EU that approves Israel's war bonds for sale across the bloc.

The Development Company for Israel Ltd sells the bonds on Israel's behalf to fund the country's military operations in Gaza.

This week the central bank said it will not renew approval for Israeli war bonds after it expires on Monday.

Central Bank governor Gabriel Makhlouf announced the move on Monday, saying: "The Central Bank’s approval of the 2024 [Israeli bond] 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."

Makhlouf said responsibility for approving the bonds has transferred to Luxembourg, explaining that "the competent authority of Luxembourg approved a new prospectus for the state of Israel today, 1 September 2025 (the 2025 prospectus)."

The Ireland-Palestine Solidarity Campaign hailed the development, with its chair Zoe Lawlor telling the Irish Times: “Today is a huge victory for the people of Ireland who stand resolutely in solidarity with the people of Palestine.”

Last month the Irish government said it "intends" to pass draft laws to ban trade with Israeli businesses based in the occupied Palestinian territories, becoming the first European country to take such a step.

Ireland stands by claim Israel committing genocide in Gaza

In 2018, the Occupied Territories Bill was introduced in Ireland by independent senator Frances Black, proposing a ban on trade with businesses operating in illegal Jewish settlements on Palestinian land, but it was ultimately blocked over concerns about breaching EU trade rules.

However, an advisory opinion from the International Court of Justice (ICJ) last July marked a turning point on reconsidering the enactment of the Irish bill.

The ICJ concluded that Israel's presence in the occupied Palestinian territories is “unlawful” and the country should “end its presence in the occupied Palestinian territory as rapidly as possible”.

Ireland’s government, together with Spain and Norway, recognised the state of Palestine in May 2024.

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Ireland's central bank to stop approving sale of Israeli 'war bonds'

Ireland's central bank to stop approving sale of Israeli 'war bonds'

Ireland's central bank to stop approving sale of Israeli 'war bonds'

Ireland's central bank to stop approving sale of Israeli 'war bonds'

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