Israeli Airstrikes Target Hezbollah-Linked Financial Institution

Israeli airstrikes have targeted the Al-Qard Al-Hassan Association, a Hezbollah-linked financial institution, further intensifying tensions between Israel and the Iran-backed group. The association provides loans without interest, often to Hezbollah's constituency, but faces criticism from the U.S. Treasury and Lebanese government for alleged illicit activities.

In a significant escalation, Israeli airstrikes have targeted branches of the Hezbollah-linked Al-Qard Al-Hassan Association, raising the stakes in the ongoing conflict with the Iran-backed group.

Founded in 1983, Al-Qard Al-Hassan positions itself as a charitable organization, providing no-interest loans adhering to Islamic principles. The financial institution operates more than 30 branches across Lebanon, particularly in Shi'ite areas.

Despite its humanitarian guise, the U.S. Treasury has sanctioned the association for allegedly facilitating Hezbollah's financial activities. Tensions rose further following the hacking incident in 2020, which revealed client names, prompting calls for support from Hezbollah's leadership.

(With inputs from agencies.)