Lebanese security forces recently detained an Iranian diplomat at Beirut’s airport carrying large amounts of cash, according to Israeli business daily Globes.
Hezbollah’s main source of funds, about 90%, is cash coming from Iran—nearly $1 billion a year, according to Israeli security estimates. The rest comes from the drug trade and “charities” operated by the terror group.
One of the main challenges of Lebanon’s new president, Joseph Aoun, will be stopping that cash flow, according to Globes.
Hezbollah’s main financial arm is the bank Al-Qard al-Hasan. It, too, mainly deals in cash—U.S. dollars so as not to be tied to the devaluing Lebanese pound.
Al-Qard al-Hasan, which translates as “benevolent loan,” continues to function despite losing multiple branches in targeted Israeli airstrikes in late October. On Oct. 21, 2024, then-Israeli Defense Minister Yoav Gallant placed the bank on a list of designated terror groups.
The bank, which has about 30 branches, provides interest-free loans, in accordance with Islamic law, in exchange for collateral, such as gold, jewelry, or third-party guarantees.
The Foundation for Defense of Democracies (FDD) reported in 2021 that the bank’s lending grew steadily from $76.5 million in 2007 to $480 million in 2019.
Senior Hezbollah officials are already developing economic rehabilitation plans with the help of Al-Qard al-Hasan, according to Globes, which cited a report in the London-based Arabic news site Asharq Al-Awsat.
Hezbollah has allocated about $1 billion to help Shi’ite families affected by the war. Each is to receive $12,000, partly a recompense for Shi’ite community help in providing cover for its terror activities, according to the report.
Hezbollah, which owns companies in Lebanon, will also benefit from government contracts to rebuild in the war’s aftermath, a process that will further tighten the grip of the Iranian-backed terrorist organization within Lebanon, according to Globes.
