An al-Qard al-Hassan agency in the southern suburbs of Beirut, shortly after being targeted by an Israeli strike, on Oct. 20, 2024. (Credit: AFP)
After enduring Israeli strikes and American sanctions, Hezbollah now faces an economic offensive from the Banque du Liban (BDL). In a directive issued on July 14, the BDL banned Lebanese banks and financial institutions from dealing with al-Qard al-Hassan.The powerful charity NGO was founded in 1985, which the party uses to distribute interest-free microloans to its supporters and pay its members.This is the first time that the BDL has formally targeted al-Qard al-Hassan, which has been on the U.S. Treasury blacklist since 2007, alongside Bayt al-Mal — Hezbollah’s “treasury,” according to Washington, and the investment company al-Yusor (sanctioned since 2006). Context BDL bans banks and financial institutions from dealing with companies like al-Qard al-Hassan The measure received immediate backing from Washington: U.S. envoy Tom...
After enduring Israeli strikes and American sanctions, Hezbollah now faces an economic offensive from the Banque du Liban (BDL). In a directive issued on July 14, the BDL banned Lebanese banks and financial institutions from dealing with al-Qard al-Hassan.The powerful charity NGO was founded in 1985, which the party uses to distribute interest-free microloans to its supporters and pay its members.This is the first time that the BDL has formally targeted al-Qard al-Hassan, which has been on the U.S. Treasury blacklist since 2007, alongside Bayt al-Mal — Hezbollah’s “treasury,” according to Washington, and the investment company al-Yusor (sanctioned since 2006). Context BDL bans banks and financial institutions from dealing with companies like al-Qard al-Hassan The measure received immediate backing from Washington: U.S. envoy...
Rubio condemns Iran's 'outrageous' attacks on Kuwait
