How Israel Tries to Destroy Hezbollah’s Financial Network

On Sunday, Israel carried out air strikes in Beirut and elsewhere in Lebanon, targeting branches of Al-Qard Al-Hassan Association (AQAH), a financial institution and de facto bank linked to Hezbollah.

On Monday, Israel Defences Forces spokesman Daniel Hagari made a number of claims regarding the financing of Hezbollah and the reason for the strikes in a video message posted online.

He claimed Hezbollah had exploited Lebanon's "deep financial crisis" of recent years for its own gain and that its own financial network was based on two main sources of income: money from Iran and money from the Lebanese people.

He said the Israeli strikes had targeted various sites associated with Al-Qard Al-Hassan but also claimed, without evidence, that Hezbollah was storing "hundreds of millions of dollars" in a bunker under a hospital in central Beirut.

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Al-Qard Al-Hassan plays a key role in Lebanon for Hezbollah, according to Jonathan Lord, director of the Middle East Security Program at the Center for a New American Security, a think tank.

"They provide financial services," Lord told DW. "It's been a bit of a strategic competitive edge for Hezbollah in Lebanon because the traditional banking sector, particularly in the last few years, has become so fraught and challenging with Lebanon's corruption and just broader banking and economic woes."

Read the full article and more on DW.