A sign of al-Qard al-Hassan, on Oct. 21, 2024, in the southern suburbs of Beirut, the day after an Israeli airstrike. (Credit: Mohammad Yassine/OLJ)
The Israeli army crossed a new line on Oct. 20 in its military escalation in Lebanon, carrying out numerous strikes against several branches of the Qard al-Hassan organization, a financial company founded in 1983, which Tel Aviv accuses of financing Hezbollah, founded a year earlier. The company collects non-interest-bearing deposits on one hand, in accordance with Islamic finance principles (in dollars or Lebanese pounds) and provides micro-loans on the other. It has been under U.S. Treasury sanctions since 2007.Although the microcredit company claims to be open to all clients, its affiliation with Hezbollah is well-known. But the party does not stop at finance: Supermarkets, fuel, construction, TV channels... What are these Hezbollah civilian institutions, which exist across Lebanon? Here's a brief, non-exhaustive overview.Al Manar,...
The Israeli army crossed a new line on Oct. 20 in its military escalation in Lebanon, carrying out numerous strikes against several branches of the Qard al-Hassan organization, a financial company founded in 1983, which Tel Aviv accuses of financing Hezbollah, founded a year earlier. The company collects non-interest-bearing deposits on one hand, in accordance with Islamic finance principles (in dollars or Lebanese pounds) and provides micro-loans on the other. It has been under U.S. Treasury sanctions since 2007.Although the microcredit company claims to be open to all clients, its affiliation with Hezbollah is well-known. But the party does not stop at finance: Supermarkets, fuel, construction, TV channels... What are these Hezbollah civilian institutions, which exist across Lebanon? Here's a brief, non-exhaustive overview.Al Manar,...
