https://home.treasury.gov/news/press-releases/jy0170

Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated seven individuals in connection with Hizballah and its financial firm, Al-Qard al-Hassan (AQAH). AQAH, which was designated by OFAC in 2007, is used by Hizballah as a cover to manage the terrorist group’s financial activities and gain access to the international financial system. Ibrahim Ali Daher (Daher) serves as the Chief of Hizballah’s Central Finance Unit, which oversees Hizballah’s overall budget and spending, including the group’s funding of its terrorist operations and killing of the group’s opponents. The other six individuals designated today used the cover of personal accounts at certain Lebanese banks, including U.S.-designated Jammal Trust Bank (JTB), to evade sanctions targeting AQAH and transfer approximately half a billion U.S. dollars on behalf of AQAH.

“From the highest levels of Hizballah’s financial apparatus to working level individuals, Hizballah continues to abuse the Lebanese financial sector and drain Lebanon’s financial resources at an already dire time,” said Director of the Office of Foreign Assets Control Andrea Gacki. “Such actions demonstrate Hizballah’s disregard for financial stability, transparency, or accountability in Lebanon.”

While AQAH purports to serve the Lebanese people, in practice it illicitly moves funds through shell accounts and facilitators, exposing Lebanese financial institutions to possible sanctions. AQAH masquerades as a non-governmental organization (NGO) under the cover of a Ministry of Interior-granted NGO license, providing services characteristic of a bank in support of Hizballah while evading proper licensing and regulatory supervision. By hoarding hard currency that is desperately needed by the Lebanese economy, AQAH allows Hizballah to build its own support base and compromise the stability of the Lebanese state. AQAH has taken on a more prominent role in Hizballah’s financial infrastructure over the years, and designated Hizballah-linked entities and individuals have evaded sanctions and maintained bank accounts by re-registering them in the names of senior AQAH officials, including under the names of certain individuals being designated today.