Israeli Military Targets Al-Qard al-Hasan in Lebanon Airstrikes

The Israeli military conducted a series of airstrikes across Lebanon on Sunday, targeting multiple branches of Al-Qard al-Hasan, a financial organization associated with the Iranian-backed militant group Hezbollah. Rear Adm. Daniel Hagari, the military’s spokesman, revealed that one of the targets hit was a vault containing “tens of millions of dollars” underneath a residential building in Beirut, the Lebanese capital.

Israel’s defense minister, Yoav Gallant, signed an order on Monday designating Al-Qard al-Hassan as a terrorist organization. This move is part of a broader campaign aimed at targeting the economic resources of Hezbollah and other terrorist groups.

Al-Qard al-Hasan, registered as a charity in Lebanon, provides financial services based on Islamic finance principles, offering loans, savings accounts, and financial transfers. It is the largest microcredit organization in Lebanon, operating independently from the traditional banking sector.

Hezbollah, a significant force in Lebanon since the 1980s, has utilized Al-Qard al-Hasan as its primary financial institution, managing millions in Iranian funding and proceeds from criminal activities to finance attacks on Israel. The U.S. Treasury Department has previously sanctioned the organization for its ties to Hezbollah.

The impact of the airstrikes on Al-Qard al-Hasan remains uncertain, with no casualties reported. While the immediate damage may not be severe, the strikes could disrupt Hezbollah’s funding sources and impact its ability to carry out future attacks. However, experts suggest that Iran, Hezbollah’s main sponsor, may quickly replenish any lost funds.

The economic situation in Lebanon is dire, with the traditional banking system collapsing in 2019 due to a combination of factors including bad policy, corruption, and bad loans. The country is facing widespread poverty, exacerbated by the recent Israeli bombing campaign.

Overall, the airstrikes on Al-Qard al-Hasan highlight the complex dynamics at play in the region, with implications for both security and the struggling Lebanese economy.