Israel’s military has announced plans to strike buildings belonging to al-Qard al-Hassan, a Hezbollah-run banking system that provides loans primarily in areas where Hezbollah is popular. The institution is accused of financing Hezbollah’s terrorist activities through interest-free loans. Following Lebanon’s 2019 banking crisis, al-Qard al-Hassan gained popularity as it provided collateral-based loans on personal assets. The US sanctioned the institution in 2017 for giving Hezbollah access to the international financial system.
While hundreds of thousands of Lebanese bank with al-Qard al-Hassan, the US Treasury stated that the institution is part of Hezbollah’s social services network, which analysts believe contributes to the group’s popularity. Human rights organizations argue that civilian institutions affiliated with Hezbollah should not be legitimate military targets. Recent Israeli strikes have targeted medics and first responders affiliated with Hezbollah’s health service.
In response to the Israeli strikes, residents in Beirut are fleeing their homes, causing traffic jams as they seek safer areas. Israel’s actions have resulted in explosions and fires in the city. Additionally, Unifil reported that Israeli forces deliberately demolished a UN observation tower in Marwahin, stressing the need to respect the safety and security of UN personnel and property.
Israeli Prime Minister Benjamin Netanyahu consulted with former US president Donald Trump on Iran-related issues, indicating Israel’s consideration of military action in response to recent Iranian missile strikes. Furthermore, Israel’s foreign minister has announced legal and diplomatic measures against France’s decision to ban Israeli companies from an arms fair in Paris.
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