The Central Bank of Ireland is complicit in Israel’s genocide and regime of apartheid by facilitating the sale of Israeli war bonds throughout the European Union. Its role in the funding of the most unspeakable crimes must end immediately. For the latest news about this campaign click here! What are “Israel Bonds”? “Israel Bonds” are investment bonds issued by Israel to raise money. They are explicitly advertised with the slogans “Israel is at war” and “Stand with Israel”. The money raised funds Israel’s apartheid system and its genocidal onslaught on Gaza. How is our Central Bank involved? To be sold within the EU, bonds from non-EU countries must be regulated by the Central Bank of a country that is in the EU. Before Brexit, Britain provided the gateway into the EU for Israel’s financing campaign. After Brexit, the Central Bank of Ireland (CBI) took over this role.
In September 2024, almost a year into the genocide, the CBI renewed its authorisation of Israel Bonds. Complicity in genocide In January 2024, the International Court of Justice (ICJ) confirmed the plausibility of the charge of genocide against Israel for its actions in Gaza.
Despite multiple UN reports affirming that Israel is committing genocidal acts , the issuing of arrest warrants for senior Israeli government officials , the issuance of provisional measures by the International Court of Justice , a separate ICJ ruling that Israel’s occupation of Palestine is entirely illegal , and the deaths of tens of thousands of people in Gaza, the CBI continues to allow Israel to market its sovereign war bonds in Ireland, and acts as the gateway for their sale throughout the EU.
This is simply unconscionable. The Irish public stand overwhelmingly and resolutely in solidarity with the Palestinian people and are sickened by this complicity with Israel’s regime of apartheid, genocide and settler-colonialism.
As a signatory to the Genocide Convention, Ireland is obliged to ensure that our state institutions are not facilitating genocide. What should be done? The Governor of the Central Bank, Gabriel Makhlouf, insists that “we have to approve a prospectus… as long as the prospectus meets the standards of completeness, comprehensibility and consistency.”
In fact, Israel’s bond prospectus withholds ethical and risk-related information – it does not mention the genocide charge at the ICJ, nor does it mention Israel’s profiteering from weaponry that is “field-tested” in Gaza – so it is not “comprehensive, complete or consistent”.
Recently a television interview broadcast on 16 October 2023 in which the CEO of Israel Bonds was discovered, which confirmed that the same bonds approved by the CBI were being used to fund Israel’s “war campaign” in Gaza . This directly contradicts Makhlouf assertions, and is further evidence that he had the power to refuse the State of Israel’s September 2024 application to approve the bond prospectus for failing to meet the standards of completeness.
The Central Bank has the moral and legal obligation to stop facilitating the sale of “Israel Bonds”. If the Governor will not invoke the powers at his disposal, the government must act to stop our Central Bank facilitating the financing of genocide. How can you support the campaign? - Write to the Governor of the Central Bank, Gabriel Makhlouf, at gabriel.makhlouf@centralbank.ie and demand that he ends the Central Bank’s authorisation of “Israel bonds” across EU markets.
- - Email the Deputy Governors at vasileios.madouros@centralbank.ie and maryelizabeth.mcmunn@centralbank.ie demanding the same.
- - Contact your TDs and remind them that, under the Genocide Convention, they are obliged to ensure that state institutions do not facilitate genocide.
- - Call upon local councillors to raise the issue in county and city councils. There is a template motion here . - - Put a motion to your trade union/student union/community association calling on the Central Bank to stop facilitating genocide in Gaza. There is a template motion here .
- - Ask your Credit Union to write to the Governor of the Central Bank and call on him to withdraw regulation from “Israel Bonds”.
- - Educate yourself – download our leaflet here and our factsheet here .
- - Follow @irelandpsc (Instagram), IrelandPSC (Facebook), @ipsc.bsky.social (Blueksy) and @ipsc48 (X) for updates
- - Join our regular protests at the Central Bank.
- “Those who finance genocide under the mantra ‘it’s only business’ are complicit in genocide. By selling Israeli war bonds, the Central Bank of Ireland is implicating all of us, all Irish people, in Israel’s war crimes. The approval of these war bonds must be stopped.” – David Landy of Jews for Palestine – Ireland If the Central Bank won’t act, then Government must act. EU regulations allow the Central Bank to impose ‘other particular requirements’. Ireland should make it a ‘requirement’ that we will not sell bonds where the seller is being investigated under the Genocide Convention.” – Senator Alice Mary Higgins Latest Campaign News 2025/04/03 – Upcoming Protest: No Genocide Bonds @ Central Bank, April 12th, 12pm-2pm 2025/04/01 – IPSC lodges criminal proceedings against Central Bank officials for complicity in Israel’s genocide 2025/03/31 – The Currency: “Arguable grounds” for bill to block Israeli bonds role, Sinn Féin told 2025/03/31 – Irish Times: Central Bank commission discussed concerns over its role in approving Israeli bonds documents 2025/03/25 – The Ditch: Israeli Bonds CEO contradicts Irish Central Bank: buying our bonds funds the IDF war efforts 2025/03/13 – OPLA Legal Advice on permissibility of a Bill to restrict issuance of Israeli war bonds by the Oireachtas 2025/02/12 – The Ditch: Central Bank received almost €40,000 in Israeli bond fees since 2021 2025/01/06 – Examiner: Protesters target Ireland’s Central Bank over sale of Israel Bonds in EU 2024/12/23 – A further IPSC response to the Central Bank 2024/12/09 – Central Banking: Central Bank of Ireland defends Israeli ‘war bond’ approval 2024/12/05 – A Shameful Defence of Genocide Bonds: IPSC’s response to CBI Governor Makhlouf’s Statement 2024/12/05 – The Ditch: Central Bank: We can’t stop selling Israeli bonds 2024/09/18 – Dublin Inquirer: Artists cancel exhibition at the Central Bank over its approval of prospectus for Israeli bonds 2024/09/04 – The Ditch: Central Bank of Ireland renews agreement to facilitate sale of Israeli ‘war bonds’ The post Stop Funding Genocide! Ireland’s Central Bank is complicit in Apartheid Israel’s war crimes appeared first on Ireland Palestine Solidarity Campaign .