Financial warfare: Israel targets Hezbollah’s Al-Qard Al-Hassan branches in violent night of airstrikes

Report by Wissam Nasrallah, English adaptation by Yasmine Jaroudi

At approximately 9 p.m. on Sunday, October 20, Israeli forces issued warnings of imminent strikes on Hezbollah-affiliated institutions, this time focusing on the group’s financial arm, Al-Qard Al-Hassan. 

Within an hour of the initial warning, the bombardment began, with a total of 14 airstrikes hitting Beirut’s southern suburbs and Choueifat, seven targeting the south and three in the Bekaa Valley.

The Israeli attack on Al-Qard Al-Hassan raises questions about why this financial institution became a target. 

Established in the 1980s as a financial and social organization linked to Hezbollah, Al-Qard Al-Hassan provides interest-free loans to those in need in exchange for gold deposits. The institution received official approval from Lebanon’s Interior Ministry in 1987.

During the 2006 war, the organization operated nine branches, six of which were destroyed by Israeli forces. By 2023, the number of branches had grown to more than 30, spread across Beirut, its suburbs, southern Lebanon, and the Bekaa Valley.

The recent Israeli strikes caused significant damage to buildings and properties, sparking chaos and mass displacement late into the night. This escalation marks a new phase in Israel’s destructive campaign as Tel Aviv continues to seek new targets each day.