Treasury Targets Hizballah Finance Official and Shadow Bankers in Lebanon marketswired.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketswired.com Daily Mail and Mail on Sunday newspapers.
The U.S. Department of the Treasury’s Office of Foreign Assets Control designated seven individuals in connection with Hezbollah and a related financial entity, Al-Qard al-Hassan.
The United States Impedes Hizballah Financing by Sanctioning Seven Individuals Details Written by State Department
Washington, DC - 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
The Media Line Staff 05/12/2021
The US Treasury Department has slapped new sanctions on seven Lebanese men with alleged contacts to the Iran-backed Hizbullah movement. The sanctions also extend to Hizbullah’s financial arm, the Al-Qard al-Hassan (AQAH) financial firm, which is alleged to be used by Hizbullah as a cover for funds used for terror activities.
Ibrahim Ali Daher, who serves as the chief of Hizbullah’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, is one of the Lebanese men being sanctioned. The other six individuals designated on Tuesday “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,” the Treasury Department said in a statement.