Al-Qard Al-Hassan is a bank in Lebanon that has been under U.S. sanctions since 2007 for allegedly being used by Hezbollah for terrorist financing. The U.S. Department of Treasury has accused Hezbollah of using the bank to exploit the Lebanese financial sector and drain the country’s resources. The bank has more than 30 branches across Lebanon, many in the Shiite-majority southern suburbs of Beirut. Israel has recently targeted the bank’s branches in airstrikes as part of its broader conflict with Hezbollah. Israeli officials claim that Iran funds Hezbollah’s activities through civilian institutions, associations, and NGOs.
Prior to the airstrikes, Hezbollah had fired dozens of projectiles into northern Israel, leading to Israeli military retaliations, including ground raids into southern Lebanon. The IDF reported dismantling Hezbollah weapons and killing members, including commanders. The ongoing hostilities between Israel and Hezbollah have resulted in a significant number of casualties in Lebanon, with thousands killed and over a million displaced from their homes. The situation remains tense as both sides continue to engage in conflict.
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