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{{Short description|Lebanese financial institution}}
⚫ {{Orphan|date=October 2024}}
{{for|the concept for which this institution is named|Qard al-Hasan}}
⚫ {{Use dmy dates|date=October 2024}}
{{Infobox company
| name = Al-Qard Al-Hasan Association
| logo =
| logo_caption =
| logo_alt =
| type = Non-profit financial institution; Hezbollah’s ''de facto'' banking arm
| industry = ]
| founded = {{Start date and age|1982}}
| founder = ]
| hq_location_city = ]
| hq_location_country = ]
| locations = approx. 30 ]
| area_served = ]
| key_people =
| products = Interest-free loans, money transfer, ], ]; allegedly ]
| owner = ]
| num_employees =
| num_employees_year = <!-- Year of num_employees data (if known) -->
| website = {{URL|https://qardhasan.org/}}
}}
{{Hezbollah}}
'''Al-Qard Al-Hassan''' ('''AQAH''') or '''Al-Qard Al-Hasan Association''' ({{langx|ar| جمعية مؤسسة القرض الحسن|lit= the benevolent loan}}) is a ]-affiliated non-profit ], that provides interest-free loans and other financial services to the ] community,<ref name=":4">{{Cite web |date=2020-11-24 |title=Al-Qard al Hassan, la microfinance résistante - Salah Hijazi |url=https://www.lecommercedulevant.com/article/30137-al-qard-al-hassan-la-microfinance-resistante |access-date=2024-10-03 |website=Commerce du Levant |language=fr}}</ref> providing support amidst widespread poverty.<ref name=":3">{{Cite web |last=Torbey |first=Natasha Metni |date=2023-02-17 |title=Al-Qard al-Hassan: le réseau illégal du Hezb qui ronge l’économie |url=https://icibeyrouth.com/liban/192282 |access-date=2024-10-02 |website=Ici Beyrouth |language=fr-FR}}</ref> It is based on the ] of interest-free loans of the same name (]).<ref name=":0">{{Cite web |date=2021-01-04 |title=Hezbollah's Al-Qard Al-Hassan, Explained |url=https://www.the961.com/al-qard-al-hassan-explained/ |access-date=2024-10-02 |website=www.the961.com |language=en-US}}</ref>


'''Al-Qard Al-Hassan''' (AQAH) or '''Al-Qard Al-Hasan Association''' ({{lang-ar| جمعية مؤسسة القرض الحسن|lit= the benevolent loan}}) is a ]-affiliated non-profit financial institution, that provides interest-free loans<ref name=":4">{{Cite web |date=2020-11-24 |title=Al-Qard al Hassan, la microfinance résistante - Salah Hijazi |url=https://www.lecommercedulevant.com/article/30137-al-qard-al-hassan-la-microfinance-resistante |access-date=2024-10-03 |website=Commerce du Levant |language=fr}}</ref> and other financial services to the ] community,<ref name=":4" /> providing support amidst widespread poverty.<ref name=":3">{{Cite web |last=Torbey |first=Natasha Metni |date=2023-02-17 |title=Al-Qard al-Hassan: le réseau illégal du Hezb qui ronge l’économie |url=https://icibeyrouth.com/liban/192282 |access-date=2024-10-02 |website=Ici Beyrouth |language=fr-FR}}</ref> It is based on the ] of interest-free loans of the same name (]).<ref name=":0">{{Cite web |date=2021-01-04 |title=Hezbollah's Al-Qard Al-Hassan, Explained |url=https://www.the961.com/al-qard-al-hassan-explained/ |access-date=2024-10-02 |website=www.the961.com |language=en-US}}</ref> It is used by Hezbollah to move funds through a network of shell accounts and facilitators.<ref>{{cite news |title=Blasts heard across Beirut after Israel warns it will hit Hezbollah-linked finance group |url=https://www.theguardian.com/world/2024/oct/21/lebanon-beirut-attack-israel-hezbollah-al-qard-al-hassan |access-date=21 October 2024 |work=The Guardian |date=21 October 2024}}</ref> It is believed to hold billions in assets and cash and is believed to Hezbollah's main money laundering institution. <ref>{{cite news |last1=Ari |first1=Lior Ben |title=What is Al-Qard al-Hassan association, now a target of IDF? |url=https://www.ynetnews.com/article/hyhlslmg1l |access-date=21 October 2024 |work=Ynetnews |date=20 October 2024 |language=en}}</ref> The association has been sanctioned by the United States due to its ties to Hezbollah.<ref name=":02">{{Cite news |last=Staff |date=2024-10-21 |title=Blasts heard across Beirut after Israel warns it will hit Hezbollah-linked finance group |url=https://www.theguardian.com/world/2024/oct/21/lebanon-beirut-attack-israel-hezbollah-al-qard-al-hassan |access-date=2024-10-21 |work=The Guardian |language=en-GB |issn=0261-3077}}</ref> The ] says it also functions as Hezbollah’s ''de facto'' banking arm, used by ] to move funds through a network of shell accounts and facilitators.<ref>{{cite news |title=Blasts heard across Beirut after Israel warns it will hit Hezbollah-linked finance group |url=https://www.theguardian.com/world/2024/oct/21/lebanon-beirut-attack-israel-hezbollah-al-qard-al-hassan |access-date=21 October 2024 |work=The Guardian |date=21 October 2024}}</ref><ref name=new> ''The New York Times''.</ref> Israeli news website '']'' said it is Hezbollah's main ] institution.<ref>{{cite news |last1=Ari |first1=Lior Ben |title=What is Al-Qard al-Hassan association, now a target of IDF? |url=https://www.ynetnews.com/article/hyhlslmg1l |access-date=21 October 2024 |work=Ynetnews |date=20 October 2024 |language=en}}</ref> The Israeli military accused the Al-Qard Al-Hasan Association of being used to fund Hezbollah's military wing.<ref>{{cite web |url=https://www.pbs.org/newshour/world/what-is-the-financial-institution-affiliated-with-hezbollah-that-israel-is-targeting-in-lebanon |title=What is the financial institution affiliated with Hezbollah that Israel is targeting in Lebanon |date=October 21, 2024 |publisher=PBS }}</ref><ref name="what" >{{cite web |url=https://www.nytimes.com/2024/10/21/world/middleeast/israel-lebanon-hezbollah-bank.html |title=What Is Al-Qard al-Hasan, the Hezbollah-Linked Finance Group Targeted by Israel? |date=October 21, 2024 |publisher=The New York Times |last=Baker |first=Aryn }}</ref>

It has approximately 30 branches in Lebanon, including in the ] neighbourhood controlled by Hezbollah.<ref name=new/> It is not regulated by the Lebanese ].<ref name="what" />

The association has been sanctioned by the United States due to its ties to Hezbollah since 2007.<ref name=":02">{{Cite news |last=Staff |date=2024-10-21 |title=Blasts heard across Beirut after Israel warns it will hit Hezbollah-linked finance group |url=https://www.theguardian.com/world/2024/oct/21/lebanon-beirut-attack-israel-hezbollah-al-qard-al-hassan |access-date=2024-10-21 |work=The Guardian |language=en-GB |issn=0261-3077}}</ref> In October 2024 the association was ].<ref name=":02" /><ref>{{cite web|url=https://www.washingtonpost.com/world/2024/10/23/hezbollah-finance-qard-hasan-israel/|title=Israeli attacks on Hezbollah financing show group’s reach in Lebanon|publisher=Washington Post}}</ref>


== History == == History ==
Established in 1982<ref name=":1">{{Cite web |last=NOWLEBANON |date=2023-05-30 |title=The legal and financial implications of Al Qard Al Hassan |url=https://nowlebanon.com/the-legal-and-financial-implications-of-al-qard-al-hassan/ |access-date=2024-10-02 |website=Nowlebanon |language=en-US}}</ref><ref name=":4" /> with the primary goal of supporting local communities that were affected by the hardships of the ].<ref name=":0" /> It was officially registered as a social association in 1987. Its primary role is to provide loans, typically secured by gold collateral, to individuals who may not have access to traditional banking services due to ] and the collapse of its banking sector.<ref name=":1" /><ref name=":3"/> The organisation was established in 1982.<ref name=":1">{{Cite web |last=NOWLEBANON |date=2023-05-30 |title=The legal and financial implications of Al Qard Al Hassan |url=https://nowlebanon.com/the-legal-and-financial-implications-of-al-qard-al-hassan/ |access-date=2024-10-02 |website=Nowlebanon |language=en-US}}</ref><ref name=":4" /> Its primary goal at the time was supporting the Lebanese ] community that were affected by the hardships of the ].<ref name=":0" /><ref name=what/> It was officially registered as a social association in 1987. All its services follow the principles of ]. Its primary role is to provide loans, typically secured by gold collateral, to individuals who may not have access to traditional banking services due to ] and the collapse of its banking sector in 2019. More than nine hundred thousand people have used its services since its was formed and it has provided loans worth more than 4 billion dollars.<ref name=":1" /><ref name=":3"/>


=== 2007 US sanctions ===
⚫ == Controversy ==
⚫ Since 2007, due to its ties to Hezbollah,<ref name=":6" /> Al-Qard has been subject to sanctions by the ], which ].<ref name=":2">{{Cite web |title=US-sanctioned Hezbollah’s Qard al-Hasan installs ATMs, violating Lebanon's fiscal law |url=https://english.alarabiya.net/News/middle-east/2020/11/26/Lebanon-crisis-US-sanctioned-Hezbollah-s-Qard-al-Hasan-installs-ATMs-violating-Lebanon-s-fiscal-law |website=Al Arabiya English}}</ref><ref name=what/> The U.S. Treasury Department says that it has been used by Hezbollah as "a cover to manage the terrorist group’s financial activities and gain access to the international financial system."<ref name=what/> These sanctions limit Qard Al-Hassan's access to international financial systems and complicate its operations outside of Lebanon.<ref name=":2" /> The organization is often described as Hezbollah's financial arm,<ref name=":1" /><ref name=":3" /> providing ]<ref name=":1" /><ref name=":4" /> services to individuals and small businesses in Lebanon.<ref name=":0" /><ref>{{cite news |url=https://www.rfi.fr/en/international-news/20241021-hezbollah-linked-financial-firm-an-economic-lifeline-for-lebanese |title=Hezbollah-linked financial firm an economic lifeline for Lebanese |date=October 21, 2024 |publisher=Radio France Internationale (RFI) }}</ref>
⚫ Despite being registered as a charitable organization,<ref name=":0" /><ref name=":1" /><ref name=":4" /> Qard Al-Hassan has been accused of operating more like a bank,<ref name=":1" /><ref name=":5">{{Cite web |last=Topalian |first=By Nohad |title=Hizbullah expands financial activity via Al-Qard al-Hasan foundation |url=https://almashareq.com/en_GB/articles/cnmi_am/features/2023/02/08/feature-01 |access-date=2024-10-03 |website=Al-Mashareq |language=en-GB}}</ref> performing outside the regulation and the ],<ref name=":6">{{Cite web |title=Lebanese Forces MPs ask judiciary to open an investigation into Al-Qard Al-Hasan |url=https://today.lorientlejour.com/article/1330142/lebanese-forces-mps-ask-judiciary-to-open-an-investigation-into-al-qard-al-hasan.html |website=L'Orient Today}}</ref><ref name=":5" /> potentially serving as a channel for ].<ref>{{Cite web |title=Hezbollah’s al-Qard al-Hasan and Lebanon’s Banking Sector |url=https://www.fdd.org/analysis/2021/05/11/hezbollahs-al-qard-al-hasan-and-lebanons-banking-sector/ |website=FDD}}</ref><ref>{{Cite web |title="القرض الحسن".. بنك حزب الله لغسل الأموال {{!}} إرم نيوز |url=https://www.eremnews.com/videos/y0gslhky6c |access-date=2024-10-03 |website=www.eremnews.com |language=ar}}</ref><ref>{{Cite web |last=منير يونس |title=القرض الحسن: مصرف ظلّ أسود موازٍ... كيف ولماذا؟ |url=https://www.nidaalwatan.com/article/174978-%D8%A7%D9%84%D9%82%D8%B1%D8%B6-%D8%A7%D9%84%D8%AD%D8%B3%D9%86-%D9%85%D8%B5%D8%B1%D9%81-%D8%B8%D9%84-%D8%A3%D8%B3%D9%88%D8%AF-%D9%85%D9%88%D8%A7%D8%B2-%D9%83%D9%8A%D9%81-%D9%88%D9%84%D9%85%D8%A7%D8%B0%D8%A7 |website=نداء الوطن}}</ref><ref>{{Cite web |date=2023-02-21 |title="القرض الحسن" تتوسع في لبنان ومخاوف من اختراقها النظام المصرفي العالمي |url=https://www.independentarabia.com/node/423956/%D8%B3%D9%8A%D8%A7%D8%B3%D8%A9/%D8%AA%D9%82%D8%A7%D8%B1%D9%8A%D8%B1/%D8%A7%D9%84%D9%82%D8%B1%D8%B6-%D8%A7%D9%84%D8%AD%D8%B3%D9%86-%D8%AA%D8%AA%D9%88%D8%B3%D8%B9-%D9%81%D9%8A-%D9%84%D8%A8%D9%86%D8%A7%D9%86-%D9%88%D9%85%D8%AE%D8%A7%D9%88%D9%81-%D9%85%D9%86-%D8%A7%D8%AE%D8%AA%D8%B1%D8%A7%D9%82%D9%87%D8%A7-%D8%A7%D9%84%D9%86%D8%B8%D8%A7%D9%85-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%81%D9%8A-%D8%A7%D9%84%D8%B9%D8%A7%D9%84%D9%85%D9%8A |access-date=2024-10-03 |website=اندبندنت عربية |language=ar}}</ref>


In 2021 the US Treasury Department said it: "purports to serve the Lebanese people," but that it in reality "illicitly moves funds through shell accounts and facilitators" in Hezbollah’s "]" network.<ref name=new/> That year, the Treasury Department hardened its sanctions, saying that the association was "hoarding hard currency that is desperately needed by the Lebanese economy" and compromising the stability of Lebanon.<ref name=what/>
== Sanctions ==
⚫ Due to its ties to Hezbollah,<ref name=":6" /> Al-Qard has been subject to sanctions by the ], which ].<ref name=":2">{{Cite web |title=US-sanctioned Hezbollah’s Qard al-Hasan installs ATMs, violating Lebanon's fiscal law |url=https://english.alarabiya.net/News/middle-east/2020/11/26/Lebanon-crisis-US-sanctioned-Hezbollah-s-Qard-al-Hasan-installs-ATMs-violating-Lebanon-s-fiscal-law |website=Al Arabiya English}}</ref> These sanctions limit Qard Al-Hassan's access to international financial systems and complicate its operations outside of Lebanon.<ref name=":2" /> The organization is often described as Hezbollah's financial arm,<ref name=":1" /><ref name=":3" /> providing ]<ref name=":1" /><ref name=":4" /> services to individuals and small businesses in Lebanon.<ref name=":0" />


=== 2024 Israeli airstrikes ===
⚫ == References ==
{{see also|Dahiya doctrine}}
⚫ {{reflist}}
In October 2024, the association buildings in Beirut were ].<ref name=":02" /> Israel’s military said that the banking association "directly funds Hezbollah’s terror activities," including the purchase of "weapons and payments to operatives in Hezbollah’s military wing".<ref name="what"/> Hezbollah said it has no role other than providing small, interest-free loans to ordinary Lebanese, in line with Islamic law's ban on receiving interest. ], a leading expert on Hezbollah, said that the aim of these attacks is to destroy what is also known as the Hezbollah’s "community of resistance."<ref name="Israel’s strategy">{{cite news |title=What is Israel’s strategy in targeting Hezbollah’s civilian network? |url=https://www.bbc.com/news/articles/c89v72q71d3o |agency=BBC}}</ref>
] is an Israeli military strategy involving the large-scale destruction of civilian infrastructure, or ], to pressure hostile governments.<ref name="Byman">{{cite book |doi=10.1093/acprof:osobl/9780195391824.003.0026 |chapter=What Israel can Teach the World and What Israel should Learn |title=A High Price |date=2011 |last1=Byman |first1=Daniel |pages=362–382 |isbn=978-0-19-539182-4 |quote=the threat to destroy civilian infrastructure of hostile regimes, as Israel did to the Dahiya neighborhood of Beirut, where Hizbollah was headquartered in 2006 |quote-page=364 }}</ref>


⚫ == Controversy ==
⚫ Despite being registered as a charitable organization,<ref name=":0" /><ref name=":1" /><ref name=":4" /> Qard Al-Hassan has been accused of operating more like a bank,<ref name=":1" /><ref name=":5">{{Cite web |last=Topalian |first=Nohad |title=Hizbullah expands financial activity via Al-Qard al-Hasan foundation |url=https://almashareq.com/en_GB/articles/cnmi_am/features/2023/02/08/feature-01 |access-date=2024-10-03 |website=Al-Mashareq |language=en-GB}}</ref> acting outside the regulation and control of the Lebanon's ], the ],<ref name=":6">{{Cite web |title=Lebanese Forces MPs ask judiciary to open an investigation into Al-Qard Al-Hasan |url=https://today.lorientlejour.com/article/1330142/lebanese-forces-mps-ask-judiciary-to-open-an-investigation-into-al-qard-al-hasan.html |website=L'Orient Today}}</ref><ref name=":5" /> potentially serving as a channel for ].<ref>{{Cite web |title="القرض الحسن".. بنك حزب الله لغسل الأموال {{!}} إرم نيوز |url=https://www.eremnews.com/videos/y0gslhky6c |access-date=2024-10-03 |website=www.eremnews.com |language=ar}}</ref><ref>{{Cite web |last=منير يونس |title=القرض الحسن: مصرف ظلّ أسود موازٍ... كيف ولماذا؟ |url=https://www.nidaalwatan.com/article/174978-%D8%A7%D9%84%D9%82%D8%B1%D8%B6-%D8%A7%D9%84%D8%AD%D8%B3%D9%86-%D9%85%D8%B5%D8%B1%D9%81-%D8%B8%D9%84-%D8%A3%D8%B3%D9%88%D8%AF-%D9%85%D9%88%D8%A7%D8%B2-%D9%83%D9%8A%D9%81-%D9%88%D9%84%D9%85%D8%A7%D8%B0%D8%A7 |website=نداء الوطن}}</ref><ref>{{Cite web |date=2023-02-21 |title="القرض الحسن" تتوسع في لبنان ومخاوف من اختراقها النظام المصرفي العالمي |url=https://www.independentarabia.com/node/423956/ |access-date=2024-10-03 |website=اندبندنت عربية |language=ar}}</ref>


⚫ == References ==
⚫ {{reflist}}


]
]
]
] ]

Latest revision as of 06:03, 24 December 2024

Lebanese financial institution For the concept for which this institution is named, see Qard al-Hasan.

Al-Qard Al-Hasan Association
Company typeNon-profit financial institution; Hezbollah’s de facto banking arm
IndustryFinancial services
Founded1982; 43 years ago (1982)
FounderHezbollah social services
HeadquartersBeirut, Lebanon
Number of locationsapprox. 30 branches
Area servedShias in Lebanon
ProductsInterest-free loans, money transfer, pawn broker, microfinance; allegedly money laundering
OwnerHezbollah
Websiteqardhasan.org
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Al-Qard Al-Hassan (AQAH) or Al-Qard Al-Hasan Association (Arabic: جمعية مؤسسة القرض الحسن, lit. 'the benevolent loan') is a Hezbollah-affiliated non-profit financial institution, that provides interest-free loans and other financial services to the Lebanese Shia community, providing support amidst widespread poverty. It is based on the Islamic principle of interest-free loans of the same name (Qard al-Hasan).

The US Treasury says it also functions as Hezbollah’s de facto banking arm, used by Hezbollah to move funds through a network of shell accounts and facilitators. Israeli news website Ynet said it is Hezbollah's main money laundering institution. The Israeli military accused the Al-Qard Al-Hasan Association of being used to fund Hezbollah's military wing.

It has approximately 30 branches in Lebanon, including in the Dahieh neighbourhood controlled by Hezbollah. It is not regulated by the Lebanese central bank.

The association has been sanctioned by the United States due to its ties to Hezbollah since 2007. In October 2024 the association was targeted by Israeli airstrikes.

History

The organisation was established in 1982. Its primary goal at the time was supporting the Lebanese Shiite community that were affected by the hardships of the Lebanese Civil War. It was officially registered as a social association in 1987. All its services follow the principles of Islamic finance. Its primary role is to provide loans, typically secured by gold collateral, to individuals who may not have access to traditional banking services due to Lebanon's ongoing liquidity crisis and the collapse of its banking sector in 2019. More than nine hundred thousand people have used its services since its was formed and it has provided loans worth more than 4 billion dollars.

2007 US sanctions

Since 2007, due to its ties to Hezbollah, Al-Qard has been subject to sanctions by the U.S. Treasury Department, which designates Hezbollah as a terrorist organization. The U.S. Treasury Department says that it has been used by Hezbollah as "a cover to manage the terrorist group’s financial activities and gain access to the international financial system." These sanctions limit Qard Al-Hassan's access to international financial systems and complicate its operations outside of Lebanon. The organization is often described as Hezbollah's financial arm, providing microfinance services to individuals and small businesses in Lebanon.

In 2021 the US Treasury Department said it: "purports to serve the Lebanese people," but that it in reality "illicitly moves funds through shell accounts and facilitators" in Hezbollah’s "shadow banking" network. That year, the Treasury Department hardened its sanctions, saying that the association was "hoarding hard currency that is desperately needed by the Lebanese economy" and compromising the stability of Lebanon.

2024 Israeli airstrikes

See also: Dahiya doctrine

In October 2024, the association buildings in Beirut were hit by Israeli airstrikes. Israel’s military said that the banking association "directly funds Hezbollah’s terror activities," including the purchase of "weapons and payments to operatives in Hezbollah’s military wing". Hezbollah said it has no role other than providing small, interest-free loans to ordinary Lebanese, in line with Islamic law's ban on receiving interest. Amal Saad, a leading expert on Hezbollah, said that the aim of these attacks is to destroy what is also known as the Hezbollah’s "community of resistance." Dahiya doctrine is an Israeli military strategy involving the large-scale destruction of civilian infrastructure, or domicide, to pressure hostile governments.

Controversy

Despite being registered as a charitable organization, Qard Al-Hassan has been accused of operating more like a bank, acting outside the regulation and control of the Lebanon's central bank, the Banque du Liban, potentially serving as a channel for money laundering.

References

  1. ^ "Al-Qard al Hassan, la microfinance résistante - Salah Hijazi". Commerce du Levant (in French). 24 November 2020. Retrieved 3 October 2024.
  2. ^ Torbey, Natasha Metni (17 February 2023). "Al-Qard al-Hassan: le réseau illégal du Hezb qui ronge l'économie". Ici Beyrouth (in French). Retrieved 2 October 2024.
  3. ^ "Hezbollah's Al-Qard Al-Hassan, Explained". www.the961.com. 4 January 2021. Retrieved 2 October 2024.
  4. "Blasts heard across Beirut after Israel warns it will hit Hezbollah-linked finance group". The Guardian. 21 October 2024. Retrieved 21 October 2024.
  5. ^ "Israel Strikes Hezbollah-Affiliated Financial Institution in Lebanon," The New York Times.
  6. Ari, Lior Ben (20 October 2024). "What is Al-Qard al-Hassan association, now a target of IDF?". Ynetnews. Retrieved 21 October 2024.
  7. "What is the financial institution affiliated with Hezbollah that Israel is targeting in Lebanon". PBS. 21 October 2024.
  8. ^ Baker, Aryn (21 October 2024). "What Is Al-Qard al-Hasan, the Hezbollah-Linked Finance Group Targeted by Israel?". The New York Times.
  9. ^ Staff (21 October 2024). "Blasts heard across Beirut after Israel warns it will hit Hezbollah-linked finance group". The Guardian. ISSN 0261-3077. Retrieved 21 October 2024.
  10. "Israeli attacks on Hezbollah financing show group's reach in Lebanon". Washington Post.
  11. ^ NOWLEBANON (30 May 2023). "The legal and financial implications of Al Qard Al Hassan". Nowlebanon. Retrieved 2 October 2024.
  12. ^ "Lebanese Forces MPs ask judiciary to open an investigation into Al-Qard Al-Hasan". L'Orient Today.
  13. ^ "US-sanctioned Hezbollah's Qard al-Hasan installs ATMs, violating Lebanon's fiscal law". Al Arabiya English.
  14. "Hezbollah-linked financial firm an economic lifeline for Lebanese". Radio France Internationale (RFI). 21 October 2024.
  15. "What is Israel's strategy in targeting Hezbollah's civilian network?". BBC.
  16. Byman, Daniel (2011). "What Israel can Teach the World and What Israel should Learn". A High Price. pp. 362–382. doi:10.1093/acprof:osobl/9780195391824.003.0026. ISBN 978-0-19-539182-4. p. 364: the threat to destroy civilian infrastructure of hostile regimes, as Israel did to the Dahiya neighborhood of Beirut, where Hizbollah was headquartered in 2006
  17. ^ Topalian, Nohad. "Hizbullah expands financial activity via Al-Qard al-Hasan foundation". Al-Mashareq. Retrieved 3 October 2024.
  18. ""القرض الحسن".. بنك حزب الله لغسل الأموال | إرم نيوز". www.eremnews.com (in Arabic). Retrieved 3 October 2024.
  19. منير يونس. "القرض الحسن: مصرف ظلّ أسود موازٍ... كيف ولماذا؟". نداء الوطن.
  20. ""القرض الحسن" تتوسع في لبنان ومخاوف من اختراقها النظام المصرفي العالمي". اندبندنت عربية (in Arabic). 21 February 2023. Retrieved 3 October 2024.
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