The report he translated “Lebanon 24” He explained that the sanctions, which were announced on June 30, targeted the institutions and individuals who form the backbone of the party’s financial system, led by the “Al-Qard Al-Hassan Association” and “Bait Al-Mal,” in addition to officials, companies, accountants, and company managers who manage the financial and logistical operations associated with this network, noting that all of the listed names were previously subject to US Treasury Department sanctions.
According to the report, the sanctions reaffirm that “Al-Qard Al-Hassan” does not only operate as a social or charitable institution, but practically plays the role of Hezbollah’s central financial institution, as it provides banking services, manages cash and gold deposits, provides loans, and supervises the transfer of funds, giving the party a parallel financial system that reduces its dependence on the Lebanese banking sector.
As for the “House of Money,” the report describes it as the party’s unofficial treasury, as it manages assets, investments, and financial reserves, and is directly subject to the supervision of the party’s Secretary-General.
He points out that a large part of his financial activity was transferred to “Al-Qard Al-Hassan” after the damage it suffered during the July 2006 war and the sanctions imposed on it later.
The report found that the “Central Finance Unit” (Unit 104), headed by Ibrahim Ali Daher, constitutes the management center of the party’s financial network, as it is responsible for collecting revenues from various parts of the world, preparing the budget, distributing resources to the various units, supervising spending, and disbursing members’ salaries.
The report stated that Daher occupies a position within the party’s Executive Council and reports directly to the Secretary-General, which reflects, according to the report, that the financial apparatus constitutes an essential part of the decision-making structure within the organization.
The report also indicated that the most prominent thing revealed by the sanctions was the use of complex financial mechanisms to circumvent international restrictions, through joint bank accounts and “shadow” accounts registered in the names of “Al-Qard Al-Hassan” officials.
He stated that a number of senior officials, including Ahmed Yazbek and Abbas Gharib, used these accounts for more than ten years, which, according to the institute, allowed the transfer of more than $500 million through the official banking system despite the sanctions imposed on the party.
The report considered that these data indicate that the party does not rely only on informal remittance networks, but also uses the Lebanese banking system through individuals and civil companies to manage part of its financial activity.
The report also addressed the role of a number of private companies within the financial network, noting that the “Experts” company provided accounting services to the party’s institutions, and worked from within the “Al-Qard Al-Hassan” building, while the “Facilitations LLC” company took over. Providing loans and financing for both “Al-Qard Al-Hassan” and “Bayt Al-Mal”.
He explained that the “Auditors for Accounting and Auditing” company provided direct services to the party’s central financing unit, considering that these data show the dependence of the financial network on civil companies, accountants, and business managers within an integrated financial structure.
Despite the importance of the sanctions, the report concluded that they would not likely lead to the immediate paralysis of the party’s financial network, given its long experience in adapting to sanctions and redistributing its activity among different institutions, individuals, and companies.
However, the report considered that public disclosure of this network increases the difficulty of its dealings with the international financial system, raises the level of risks facing institutions and individuals who have financial relationships with it, and also sheds light on one of the most prominent centers of financial power within Hezbollah.
