Hezbollah has been allegedly faced with severe financial difficulties as a result of Israeli military actions that have targeted their funding sources, according to an exclusive Voice of America report.
According to the Friday VOA report, the findings of the Lebanese terror group’s financial struggles came after speaking to US and Lebanon-based researchers, along with alleged US Treasury Department reports.
The findings reportedly identified Hezbollah’s main source of income as coming from the Lebanese banking institution Al-Qard al-Hasan (AQAH).
According to the Meir Amit Intelligence and Terrorism Information Center, AQAH had “grown into a major institution with branches in Hezbollah’s southern Beirut stronghold of Dahiyeh and other Hezbollah-dominated parts of Lebanon,” the report said.
The researchers also said that Hezbollah had other financial sources through Lebanon’s licensed commercial banks and from arrivals of “cash-bearing” planes at Beirut’s airport, according to the report.
VOA’s report of Hezbollah’s lack of funding has come after Israel has reportedly escalated its attacks on the terror group’s assets, including airstrikes on AQAH’s branches, causing significant damage.
AQAH has operated as a key financial institution since its founding in 1982 and has grown into a major source of funding for Hezbollah’s operations, according to the report.
'A very serious financial problem'
“Hezbollah is facing a very serious financial problem. They are unable to pay rank-and-file members who have fled their homes and need to feed their families,” said Hilal Khashan, a Lebanese political science professor.
Furthermore, Lebanese finances have also been strained due to a loss of access to its banking system. According to the report, many of Lebanon’s wealthiest bankers, who may have facilitated Hezbollah’s money laundering activities, have fled the country, fearing Israeli reprisals.
“These Lebanese bankers, most of them billionaires, see the wind is blowing against Hezbollah, so they are not going to let it take millions of dollars out of their banks,” David Asher, a former US official, reportedly said.
“I’m hearing from Lebanese bankers, including Hezbollah financiers, that Lebanon’s wealthiest bankers who can afford to fly have fled to Europe and the Gulf, fearing they could be targeted next by Israel for helping Hezbollah,” Asher noted.
“I’ve heard from my Israeli counterparts that the Iranians are scared to send money to Lebanon right now because Israel is threatening to target flights into Beirut. The Israelis are warning they will target flights full of money, not just weapons,” he added.
Additionally, the report noted that flights carrying cash from Iran to Hezbollah had been interrupted by Israel’s intensified air patrols over Beirut’s airport. Israel warned it will target flights suspected of carrying money or weapons.
However, despite the alleged financial hit that Hezbollah has been faced with, the group has appeared to keep its determination to fight intact.
“Keeping up the fight depends more on the availability of food and ammunition. When your fight is motivated by religious zeal, you have more fundamental issues to worry about than the availability of cash,” said Kashan in the report.
In terms of the Lebanese government’s role, it has started to exert more control over Beirut’s airport and cargo shipments, inspecting flights to ensure compliance with Lebanese laws and to prevent the smuggling of cash or weapons to Hezbollah, the report noted.