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Home Government

Israeli Strikes to Hit Hezbollah’s Financial Hub in Lebanon

Benita OrumabyBenita Oruma
October 20, 2024
in Government
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Israeli Strikes to Hit Hezbollah’s Financial Hub in Lebanon
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The Israeli military has escalated its operations against Hezbollah, warning that imminent strikes will target Al-Qard Al-Hassan, an association accused of financing the Iran-backed militant group. On Sunday, the Israel Defense Forces (IDF) urged civilians to evacuate areas surrounding Al-Qard Al-Hassan’s offices in Lebanon, signaling a significant shift in its strategy to weaken Hezbollah’s financial backbone.

Table of Contents

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  • Targeting Hezbollah’s Financial Lifeline
  • Military Strikes to Hit Key Hezbollah Targets
  • A Blow to Hezbollah’s Standing with the Shiite Community
  • Israel’s Campaign Expands Beyond Gaza

Targeting Hezbollah’s Financial Lifeline

In a public statement, IDF spokesman Avichay Adraee announced that Israel would strike Al-Qard Al-Hassan due to its alleged role in funding Hezbollah’s terrorist activities against Israel. “Al-Qard Al-Hassan is involved in financing Hezbollah’s terrorist operations against Israel. Therefore, the IDF has decided to target this terrorist infrastructure,” Adraee said on the social media platform X.

Al-Qard Al-Hassan is a financial institution linked to Hezbollah and has been sanctioned by the United States for masking illicit financial activities. The association is also designated as a “terrorist” entity by Saudi Arabia. The IDF’s warning came with the release of specific locations of over a dozen buildings associated with Al-Qard Al-Hassan in Hezbollah strongholds, including southern Beirut and the Bekaa Valley.

Military Strikes to Hit Key Hezbollah Targets

Rear Admiral Daniel Hagari, an Israeli military spokesman, confirmed in a televised briefing that numerous targets would be hit in the coming hours, with more strikes planned overnight. The focus of these strikes is to undermine Hezbollah’s financial structure and degrade its ability to sustain operations.

Al-Qard Al-Hassan, according to the U.S. Treasury, has long served as a front for Hezbollah to access the international financial system and fund its activities. A senior Israeli intelligence official elaborated, describing the firm as a central part of Hezbollah’s financial network. The strikes aim not only to hurt Hezbollah financially but also to disrupt the trust between the group and the Shiite community that relies on Al-Qard Al-Hassan’s services.

A Blow to Hezbollah’s Standing with the Shiite Community

The Israeli intelligence official explained that weakening Hezbollah’s financial resources would also impact the broader Shiite Muslim community that uses Al-Qard Al-Hassan’s financial services. “The main objective is to affect the trust between Hezbollah and a lot of the Shiite community that uses this system,” the official told reporters.

The official further emphasized that Al-Qard Al-Hassan is not a state entity but one directly tied to Hezbollah. “They don’t belong to the Lebanese state, they belong to Hezbollah,” the official added, highlighting the group’s financial independence from official Lebanese institutions.

Israel’s Campaign Expands Beyond Gaza

Israel’s military action in Lebanon represents an expanded focus, as the conflict has now spread beyond Gaza and its battle with Hamas, Hezbollah’s Palestinian ally. Since late September, Israel has widened its military operations to Lebanon, marking a new phase in its confrontation with the Iran-backed Hezbollah group after months of escalating cross-border exchanges.

As Israel intensifies its efforts to cut off Hezbollah’s financial support, the coming days are expected to see further military action aimed at crippling the group’s infrastructure and diminishing its influence across the region.

Tags: federal characterHezbollahIsraeli strikeIsraeli Strikes to Hit Hezbollah’s Financial Hub in LebanonLebanonNews
Benita Oruma

Benita Oruma

Benita Oruma is a lawyer in training, a 400 level student in the university of Ibadan. She is a content writer with interest in corporate affairs and the marketplace.

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