A sign of Hezbollah-affiliated al-Qard al-Hassan on Oct. 21, 2024 in the southern suburbs of Beirut, the day after an Israeli strike. (Credit: Mohammad Yassin/L'Orient-Le Jour)
BEIRUT — Citing high-level Lebanese diplomatic sources, UAE news outlet Erem News reported on Friday that a unit tracking money laundering and economic crimes at the U.S. Embassy in Lebanon suspects that Qard al-Hassan Association delivered $21 million to Hezbollah's military apparatus in the last few months.
Qard al-Hassan is a charity and financial organization that acts as Hezbollah's own banking system and microfinance company, functioning under the Islamic concept by the same name, of interest-free loans based on the principle of providing support without expecting financial gain from doing so. The association is sanctioned by the U.S.
After heavy strikes targeting dozens of its branches in October and November, it reopened in various regions just days after the cease-fire and assured that customer funds and assets had not been destroyed.
According to the Erem News report, the U.S. embassy unit is looking into a missing link concerning the $21 million that was placed under the control of Qard al-Hassan, with its current status, whereabouts and usage still unknown.
The sources added that this coincided with information revealed through investigations by the same unit that a financial operation had been underway to fulfill some of the funding needs for Hezbollah's military system.
Hezbollah's military and financial situation has significantly deteriorated after more than 13 months of conflict with Israel and the fall in December 2024 of its ally Bashar al-Assad's regime in Syria, cutting the direct supply line between Tehran and the party.
Supply difficulties have been exacerbated by the Lebanese authorities' reinforced control of land, sea, and air borders following the election of President Joseph Aoun in January and the formation of a new Cabinet headed by Prime Minister Nawaf Salam in February.
The sources explained to Erem News that there are strong suspicions that the missing $21 million was redirected to Hezbollah's military apparatus, especially after crises related to a shortage in providing expenses for military units of the Lebanese militia in the recent period.
