Mar 9 • 19:03 UTC 🇬🇷 Greece Naftemporiki

Lebanon: The financing company of Hezbollah with great popularity – The application of Islamic principles for interest-free loans

Al-Kard al-Hassan, a company linked to Hezbollah, gains popularity in Lebanon amid an economic crisis, offering services that replace traditional banks.

Al-Kard al-Hassan, a financial company associated with Hezbollah, has been identified as a crucial economic instrument for this pro-Iranian organization, continuing its operations despite Israeli strikes on its branches and American efforts to undermine it. In a Lebanon struggling with an economic crisis, this company has effectively taken the place of conventional banks, gaining substantial popularity particularly among the Shia community due to its interest-free loans and associated financial services.

Despite facing significant challenges, including airstrikes by the Israeli military targeting its branches in the southern suburbs of Beirut—a stronghold of Hezbollah—the company remains a vital component in the financial ecosystem supporting the organization. An Israeli military spokesperson labeled it as a central element in financing Hezbollah's terrorist activities, indicating the broader geopolitical tensions surrounding its operations.

The company has been significantly impacted by long-standing U.S. sanctions aimed at cutting off funding sources for the Shia movement. Washington has intensified its pressure, highlighting the complexities of the intersection between local economic needs and international efforts to weaken Hezbollah’s financial network, thus placing the local population in a precarious position as they navigate economic survival with the support of such entities.

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