On November 21, Israel's Defence Ministry announced sanctions on clients of the Al-Qard al-Hassan Association, a network of unofficial banks linked to Hezbollah. Defence Minister Israel Katz stated the aim is to "collapse the terror networks" by targeting those who support terrorism financially. The ministry highlighted that funds deposited with the association are used for purchasing weapons and paying Hezbollah terrorists.
Israeli airstrikes previously targeted 20 out of 34 branches of the association in Hezbollah strongholds like Beirut and Tyre. A senior Israeli intelligence figure described the association as a major economic power for Hezbollah, contributing to Lebanon's economic instability.
Established in 1982, the association provides microloans to Lebanon's Shiite community, supporting Hezbollah. It finances various social services, acting as a "state within a state." The association handles around $500 million annually, with suspected ties to Iran.
Following Hamas attacks on October 7, Hezbollah launched rockets at northern Israel, displacing over 68,000 residents. Despite UN resolutions, Hezbollah continues its operations in southern Lebanon.
Israel is a country in the Middle East, located on the eastern shore of the Mediterranean Sea. It is known for its historical and religious significance.
Sanctions are penalties or restrictions imposed by one country on another, often to stop certain activities or behaviors. They can include things like stopping trade or freezing assets.
Hezbollah is a political and military group based in Lebanon. It is considered a terrorist organization by some countries, including Israel.
The Al-Qard al-Hassan Association is a financial organization linked to Hezbollah. It provides small loans and financial services, mainly to support people in need.
The Defence Ministry is a part of the government responsible for managing a country's military and protecting it from threats.
Microloans are small loans given to people who might not have access to traditional banking services. They help people start small businesses or meet urgent needs.
This phrase means that an organization or group operates independently within a country, almost like a separate government.
UN resolutions are decisions made by the United Nations, an international organization, to address global issues and conflicts. They are meant to guide countries in maintaining peace and security.
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