• Sun. Mar 3rd, 2024

Al-Qard al-Hasan Unmasked: The Dark Side of Lebanon’s Charitable Institution and Its Connection to Hezbollah

ByEditor

Feb 11, 2024
Uncovering Hezbollah’s Money Trail: Gold Bars and Suitcases Buried in the Ground

In December 2020, Lebanon was hit by a mysterious hack carried out by a group of hackers known as SpiderZ. The hack exposed the true activities of al-Qard al-Hasan, a semi-banking financial institution that operates under the guise of charity and grants loans to the Shia community in Lebanon. The hackers, posing as Anonymous, shared dramatic videos and documents that revealed details about the value of loans, repayment ratio, personal information about borrowers, and total budget of the institution and its branches in 2019-2020.

The hackers also sent private messages to customers urging them to withdraw their money and stop paying their loans. Additionally, they revealed the details of Hezbollah members who deposit their money in the association – including notable figures. The association denied any connection to Hezbollah but could not disassociate itself from being labeled as an intelligence attack.

Alkarch al-Hassan has been established as Hezbollah’s main banking institution for many years now. The bank has an extensive network of smuggling in Latin America and transfers funds through cash and crypto. However, they also have an estimated billions of dollars passing through Europe each year via criminal networks to finance military operations. Despite the faltering economy in Lebanon, Alkarch al-Hassan has played a crucial role in sustaining the lives of Shimmy citizens while supporting Hezbollah’s campaign against Israel. According to the Information Center for Intelligence and Terrorism, there is an intense social and economic activity among Shiite society aimed at transforming it into a resistance society that supports Hezbollah’s ideology.

Leave a Reply