Israeli Officials Say Hezbollah Uses Non-Profit to Fund Activities

October 22, 2024 by No Comments

The Israel Defense Forces (IDF) on Monday revealed new intelligence about Hezbollah’s financial network, as the military continues to target threats from Hamas and other terrorist groups.

In a briefing posted on X, IDF spokesperson Rear Adm. Daniel Hagari shared new information about Hezbollah’s financial institution used to fund attacks.

“Tonight, we’re exposing Hezbollah’s financial network and how Hezbollah uses it to fund its terrorist activities,” Hagari said. “In recent years, the state of Lebanon has experienced a deep financial crisis which was exploited by Hezbollah.”

Hagari said that Hezbollah’s financial arm is Al-Qard Al-Hasan, which “provides financial services to Lebanese civilians and pays the salaries of Hezbollah’s operatives,” Hagari said.

Al-Qard Al-Hasan is a loan provider registered as a charitable non-profit in Lebanon, according to Reuters. Hagari said that the Iranian-linked financial network violates international law.

“Hezbollah’s financial network is based on two main sources of income: money from the Iranian regime, and money from the Lebanese people,” the military spokesman said. “Iran’s Quds Force is transferring money to Hezbollah from Iranian oil sold in Syria.”

“Iran also sends suitcases of cash and gold by planes to the Iranian embassy in Beirut, and then directly it goes to Hezbollah.”

Hagari also noted that Hezbollah built factories in Syria, Lebanon, Yemen and Turkey to generate cash to support terrorist activities.

The Israeli official argued that Hezbollah’s financial arm threatens the Lebanese economy, as bringing Iranian money into circulation devalues the Lebanese pound.

“I want to emphasize, we are not at war with the people of Lebanon,” Hagari concluded. “We are at war with Hezbollah, and we will continue to operate against Hezbollah so that the residents of northern Israel will be able to return to their homes in safety and security.”

The update comes three weeks after the IDF began their operations in Lebanon. On Sunday, the military targeted Al-Qard Al-Hasan buildings in Lebanon.

Digital’s Trey Yingst and Bradford Betz contributed to this report.