A protest, organised by the Ireland-Palestine Solidarity Campaign, will take place at the Central Bank of Ireland on North Wall Quay, TOMORROW Tuesday 4 February between 12.30pm and 2pm to protest against the continued regulation of Israel Bonds by the Central Bank of Ireland in violation of the Genocide Convention, international and national human rights law, and EU Prospectus Regulation (2017/1129).
Why? The Central Bank of Ireland is the sole regulator in the European Union of Israel Bonds. Since Brexit, the CBI has acted as the gateway into Europe for these bonds. In September 2024, nearly a year into the genocide in Gaza, the CBI renewed its regulation of the bonds on the explicit understanding that, as per the Israeli bond prospectus, "the net proceeds from the issue of the Bonds are intended to be used for the general financing purposes of the Issuer," which includes "military action [and] launching the war in Gaza".
On the website which promotes the bonds Israeli President Isaac Herzog lauds “the crucial role of Israel Bonds during this time of conflict and war” and advocates “unwavering support" for the nuclear-armed genocidal apartheid state.
IPSC Chairperson Zoë Lawlor said: It is outrageous that the Central Bank of Ireland is still facilitating the sale of apartheid Israel’s war bonds in Europe. It is incomprehensible and unforgiveable that the Central Bank Commission at its meeting on 21st January simply doubled-down on its support of the shameful defence of Israel Bonds published by the Governor of the CBI in December. The Central Bank of Ireland appears to believe it has no moral or ethical obligations, nor no legal responsibilities under the Genocide Convention and international law, declaring inability to end the sale of these genocide bonds on the basis of 'Completeness, Comprehensibility and Consistency'. In fact, the bonds prospectus singularly fails to met the standard of completeness: it fails to mention the International Court of Justice Ruling of January 2024 which found that Israel was plausibly committing genocide and the ongoing case of genocide being taking by South Africa against Israel which Ireland has joined. This amounts to withholding of significant risk-related information, both financial and reputational. Rather than providing a shield to the CBI for its complicity in genocide, the EU regulation enables and requires the CBI to stop the sale of Israel Bonds by withdrawing regulation.
Ms. Lawlor concluded: There is a profound moral, ethical and legal obligations on all institutions, and on all people, to refuse to be complicit in genocide. We call again on the Central Bank of Ireland to stop funding genocide and apartheid.
Adrian Kane, Divisional Organiser, SIPTU said: “The time is well past where financial and state institutions can seek refuge in the law to absolve themselves from collaborating with genocidal regimes.”
Jenny Maguire, President, TCD SU said: “It is our shared responsibility to push in every area of Irish life to be apartheid free. Students, workers and broader Irish society demand an end to the complicity of our state and our institutions in genocide and apartheid. The students and researchers of my union have achieved historic wins in Trinity College. We now call on all institutions across Ireland to follow suit and take meaningful action against colonialism, apartheid and genocide.”
Betty Purcell, IPSC Media team and veteran human rights campaigner, said: “Ireland is firmly opposed to Israel’s war of genocide ,and ethnic cleansing against the people of Gaza . Yet our Central Bank is a funder of this horrific genocide, by regulating Israeli war bonds for sale in Europe. Israel, in selling the bonds, calls on investors to support their actions, declaring “Israel is at war: Stand with Israel!" Ireland’s Central Bank slipped into the gap left by Britain after Brexit, and is now actively facilitating the sale of these war bonds, while the government supports the ICJ case of Genocide against Israel. What a case of double standards! Under the Geneva Convention, we must act to prevent genocide, and this could be done right now, by the Central Bank, under section 32 of the EU Prospectus Regulation. Otherwise, the Central Bank is complicit in itself supporting genocide.”
Salah Al Tanani, writer, teacher, father and husband of genocide survivors said: "In the land of Ireland, where thousands rose up in support of Palestine and a rejection of the genocide, here behind the wall, in warm offices, the financing of the massacres was signed. The money they send will not build life, but will turn into missiles that tear the bodies of children, will turn into hell. It burns the hearts of children and women. Their hands that extend to do the signing were not stained directly, but it is more criminal than the bullet that penetrated the chest . History will not forget those who spend their money on the industry of death and those who are silent partners in the crime."
Abdaal Salim, Palestinian photographer, said: "I love Ireland and the Irish people and, as a Palestinian I have felt so much support from every part of Irish society. But seeing that the Central Bank fo Ireland is still fully participating in helping Israel raise funds to pay for the genocide of my people is completely heartbreaking."
Meanwhile on 28th January, Dublin Council of Trade Unions' Executive Council unanimously adopted a motion declaring:
Dublin Council of Trade Unions (DCTU) calls upon the Government and the Irish Central Bank to cease their involvement in facilitating the sale of Israeli bonds across the European Union.
It is the opinion of DCTU that the actions of the Israeli government in Gaza constitutes genocide against the Palestine people.
DCTU further calls on those trade unions that have members working in the Central Bank to end any further involvement in the sale of Israeli bonds, as not to do so would directly associate unions and workers with the defiance by the Israeli government of international humanitarian law and the genocide convention.
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