Posted on by

Hezbollah is struggling financially after being attacked by Israel

Hezbollah is struggling financially after being attacked by Israel

According to an exclusive report by Voice of America, Hezbollah was reportedly facing severe financial difficulties due to Israeli military actions targeting its funding sources.

According to Friday’s VOA report, the findings about the Lebanese terror group’s financial difficulties came after discussions with U.S.- and Lebanon-based researchers, along with alleged reports from the U.S. Treasury Department.

The findings reportedly revealed that Hezbollah’s main source of income was the Lebanese banking institution Al-Qard al-Hasan (AQAH).

According to the Meir Amit Intelligence and Terrorism Information Center, AQAH has “emerged into a major institution with branches in Dahiyeh, Hezbollah’s stronghold in southern Beirut, and other Hezbollah-dominated parts of Lebanon,” the report said.

The researchers also said Hezbollah had other sources of finance through Lebanon’s licensed commercial banks and the arrival of “cash-laden” planes at Beirut airport, according to the report.

Clothes hang on a damaged building after an Israeli attack on a commercial market amid ongoing hostilities between Hezbollah and Israeli forces in Nabatea, southern Lebanon, October 13, 2024. (Credit: REUTERS/Mohammed Yassin)

VOA’s report on Hezbollah’s lack of funding came after Israel reportedly expanded its attacks on the terror group’s assets, including airstrikes on AQAH branches that caused significant damage.

According to the report, AQAH has served as a key financial institution since its founding in 1982 and has become a key source of funding for Hezbollah’s operations.

“A very serious financial problem”

“Hezbollah is facing a very serious financial problem. They are unable to pay ordinary members who have fled their homes and need to feed their families,” said Hilal Khashan, a Lebanese political science professor.

In addition, Lebanese finances are also strained due to the loss of access to the banking system. According to the report, many of Lebanon’s richest bankers who may have supported Hezbollah’s money laundering activities have fled the country for fear of Israeli reprisals.

“These Lebanese bankers, most of them billionaires, see that the wind is blowing against Hezbollah, so they will not allow it to withdraw millions of dollars from their banks,” David Asher, a former US official, reportedly said .

Stay up to date with the latest news!

Subscribe to the Jerusalem Post newsletter

“I hear from Lebanese bankers, including Hezbollah financiers, that Lebanon’s richest bankers who can afford a flight have fled to Europe and the Gulf for fear they will be next targeted by Israel because “They are helping Hezbollah,” Asher noted.

“I have heard from my Israeli colleagues that Iranians are currently afraid to send money to Lebanon because Israel is threatening to target flights to Beirut. “The Israelis are warning that they will target flights full of money, not just weapons,” he added.

Additionally, the report noted that flights carrying cash from Iran to Hezbollah were disrupted by Israel’s increased air patrols over Beirut airport. Israel warned against attacking flights suspected of carrying money or weapons.

But despite the alleged financial losses suffered by Hezbollah, the group appears to be sticking to its resolve to fight.

“The continuation of the fight depends more on the availability of food and ammunition. If your fight is motivated by religious fervor, you have more fundamental issues to worry about than the availability of cash,” Kashan said in the report.

As for the role of the Lebanese government, it has begun to exercise more control over Beirut’s airport and cargo transportation, and to control flights to ensure compliance with Lebanese laws and prevent the smuggling of cash or weapons to Hezbollah, that is it in the report.