What did Jesus mean by “whatever you bind on earth will be bound in heaven, and whatever you loose on earth will be loosed in heaven” Matthew 18:18

Well I am not a Hebrew scholar, but it does seem bound has many connotations. So forbid and allow is probably applicable in some cases but in this case I think it may be related to punishment.

John 20:21 . As the Father has sent me, I am sending you. Receive the Holy Spirit. If you forgive anyone’s sins then they are forgiven and if you don’t forgive them they are not forgiven.