'Lebanese government has taken step in right direction' Barrack welcomes latest measure taken by BDL

U.S. envoy Thomas Barrack on Tuesday welcomed the decision by the Banque du Liban to prohibit banks, financial institutions, brokerage firms, collective investment funds and any entity it regulates from dealing, directly or indirectly, with unlicensed companies, including the al-Qard al-Hassan branch (one of Hezbollah's main financial arms).

"The Lebanese government has taken a step in the right direction by curbing the financial flows of Hezbollah’s militia that were directed through al-Qard al-Hassan," he posted on his X account. He added that "transparency and the alignment of all financial intermediaries in Lebanon under the central bank’s supervision is a valuable and necessary achievement."

Al-Qard al-Hassan is a charitable and financial institution that acts as a bank and a microcredit organization for Hezbollah. It operates according to the Islamic principle of interest-free loans, providing financial aid with no profit motive. Sanctioned by the United States since 2007, the institution has been recognized as providing financial support to Hezbollah, which the U.S. designates as a foreign terrorist organization.