Central Bank 'cannot impose sanctions on Israel' as regulator scutinised over role in sale of 'war bonds'

Governor Gabriel Makhlouf said the central bank's obligations were clear and that it 'did not need guidance to follow them'

Central Bank of Ireland Governor Gabriel Makhlouf. 'We have to work within the law, and the prospectus issued by the State of Israel meets the standards of completeness, consistency and comprehensibility required by the law.'

The governor of the Central Bank of Ireland Gabriel Makhlouf has defended the bank's role in the sale of Israeli sovereign bonds, telling government officials that it is legally required to perform and exercise its responsibility in approving their prospectus, as determined on an EU level.

The regulator is facing mounting pressure to reject the prospectuses of Israeli bonds, which are largely being used to fund the country's war efforts in Gaza.