In Ireland, public opinion and politics have openly come out against the Central Bank of Ireland for its role as the approving authority for diaspora bonds issued by Israel.
Following pressure from Irish lawmakers and pro-Palestinian groups, Israel has been forced to move the process of securing EU approval for the bond prospectus from Ireland to Luxembourg. The group of opponents has urged the Central Bank of Ireland not to facilitate the sales, arguing that Israel cannot raise funds from the EU while waging a genocidal war in Gaza, where more than 63,000 people, mostly civilians, have lost their lives.
The Central Bank of Ireland said it was legally obliged to approve the bonds if the conditions were met. However, a letter from Governor Gabriel Makhlouf confirmed that approval has now been transferred to Luxembourg, where the new Israeli bond prospectus has been published.
Israeli diaspora bonds have a small volume and are sold mainly within Jewish communities around the world. They serve as a supplement to government bonds to cover the budget deficit, which has increased significantly due to the war. The last campaign for their issuance was launched in October 2023, at the height of the conflict.
Meanwhile, the Bank of Albania is preparing to license an Israeli bank.
