Israeli Airstrikes in Beirut Target Hezbollah’s Financial Backbone Al-Qard al-Hassan

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Tejaswini Deshmukh
Tejaswini Deshmukh
Intrigued by the intersection of finance and technology, I delve into the latest RegTech advancements. With a keen eye for unraveling the complexities of compliance, I dissect current financial news and frauds.

The Israeli army launched a series of airstrikes in Beirut, targeting specific buildings that housed branches of Qard al-Hassan, a financial institution connected to Hezbollah. This action has sparked significant attention due to its implications for the ongoing conflict in the region.

Airstrikes Target Key Locations in Beirut

Late Sunday, Israeli warplanes struck various locations in the southern suburbs of Beirut, the capital of Lebanon. These strikes were not random; they were aimed specifically at Qard al-Hassan’s branches in areas known as Hayy al-Sellum, Borj al-Barajneh, and Ghobeiry, all situated in the greater Beirut area. According to reports from Lebanon’s National News Agency, at least nine airstrikes occurred within just one hour in these neighborhoods.

This military action is part of a broader campaign by Israel against Hezbollah. The Israeli army had previously warned that it would target what it described as “important economic assets” belonging to Hezbollah. Daniel Hagari, an army spokesperson, mentioned in a news conference that these strikes were meant to weaken Hezbollah’s financial capabilities, especially in Beirut.

Who is Qard al-Hassan?

Qard al-Hassan is an important financial institution for Hezbollah, a group that has a significant presence in Lebanon and is often seen as a political and military organization. Established in the 1980s, Qard al-Hassan functions under the guise of a charitable organization, providing loans and financial services to people in need in Beirut and other regions. However, Israel views it as a tool used by Hezbollah to fund its operations and activities.

Hezbollah, which is considered a terrorist organization by Israel and several other countries, has been involved in various conflicts and military actions against Israel. The organization has strong ties to Iran and receives support from the Iranian government. This connection makes Hezbollah a significant player in the complex web of Middle Eastern politics, including the ongoing situation in Beirut.

Hezbollah Finance Network Targeted by U.S. Sanctions

The Israeli army’s targeting of Qard al-Hassan in Beirut signifies their intent to disrupt Hezbollah’s financial network. By attacking this institution, Israel aims to limit Hezbollah’s resources, which it uses to maintain its military strength and influence in the region.

A Background of Conflict in Beirut

The airstrikes on Sunday are part of a larger and escalating conflict that has been ongoing for many years. Since September 23, Israel has intensified its military actions in Lebanon, claiming to target Hezbollah positions. The situation has resulted in more than 1,500 deaths and displaced over 1.34 million people, as reported by various sources, many of whom reside in Beirut.

In the recent weeks leading up to the airstrikes, tensions had been rising. The Israeli army had issued warnings to residents in southern Beirut, advising them to evacuate buildings located near Hezbollah facilities. This kind of warning is often issued before airstrikes to reduce civilian casualties. However, the reality is that many people live in close proximity to these facilities in Beirut, making it difficult to avoid harm during military actions.

The Israeli army spokesperson, Avichay Adraee, also mentioned on social media platform X that residents should take these warnings seriously. The ongoing military actions have created an atmosphere of fear and uncertainty among civilians in Beirut and surrounding areas. Many families are forced to leave their homes, leading to a humanitarian crisis that affects thousands.

Since the beginning of Israel’s offensive on the Gaza Strip, there has been a surge in violence and military operations across the region. This has included cross-border skirmishes between Israeli forces and Hezbollah, which have intensified the cycle of retaliation and conflict, impacting areas like Beirut.

Israel has long maintained that its military actions are necessary for its security. It views Hezbollah as a direct threat, given its history of attacks and its arsenal of rockets that can reach deep into Israeli territory. The Israeli government claims that by targeting groups like Hezbollah and their financial networks in Beirut, it is working to protect its citizens from potential attacks.

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