The Israeli military conducted a series of airstrikes on branches of al-Qard al-Hasan, a financial institution associated with Lebanon's Hezbollah. The strikes aimed to disrupt the funding of Hezbollah's military wing, resulting in the destruction of over a dozen branches across Lebanon. This action followed an earlier airstrike that killed a key Hezbollah figure referred to as the group's 'finance minister.'
Al-Qard al-Hasan operates as a non-profit charity outside the Lebanese financial system and serves as a means for Hezbollah to maintain support among the Shiite population. The institution offers interest-free loans, accepts gold deposits as collateral, and provides financial assistance for various purposes such as education, weddings, and small businesses.
While Israel alleges that al-Qard al-Hasan funds arms purchases and pays Hezbollah fighters, the U.S. Treasury has imposed sanctions on the institution since 2007, citing its role in managing Hezbollah's financial activities.
Despite the airstrikes targeting al-Qard al-Hasan, experts suggest that Hezbollah's overall financing, primarily sourced from Iran and global supporters, may not be significantly impacted. The destruction of the institution's branches is seen as symbolic and may not directly affect Hezbollah's financial stability.
Following the airstrikes, al-Qard al-Hasan reassured customers by relocating deposits to secure locations. Customers, like one Lebanese woman who deposited jewelry for a loan, express faith in Hezbollah's ability to compensate for any losses.
Israel's recent actions against Hezbollah's financial network also included the killing of a key Hezbollah financier accused of facilitating funds from Iran to the group. The U.S. Treasury identified the financier as a critical link in financing Hezbollah's operations and procurement activities.
While the airstrikes on al-Qard al-Hasan branches and the targeted killings aim to disrupt Hezbollah's financial mechanisms, the group's funding sources and support networks remain resilient, posing challenges to efforts to undermine its operations.
