Al-Qard Al-Hassan, a Lebanese bank under U.S. sanctions since 2007, is accused of being used by Hezbollah to manage terrorist group’s financial activities and gain access to the international financial system. The bank has over 30 branches across Lebanon, with many in Shiite-majority areas in Beirut. Israel has targeted the bank in its war against Hezbollah, expanding beyond military sites. Israeli soldiers have launched ground raids into southern Lebanon, dismantling weapons and killing Hezbollah members. The conflict between Israel and Hezbollah has resulted in the deaths of at least 2,464 people, including 127 children, and displacement of 1.2 million people in Lebanon. The Treasury officials have accused Hezbollah of abusing the Lebanese financial sector and draining the country’s resources during a time of economic and political crises. The ongoing hostilities have escalated since Hamas’ terrorism attack in October 2020.
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Israel targets Lebanese banks to weaken Hezbollah’s financial resources
