- 16
- Oct.
- 2024
Many legal experts agree on the idea that "the Al-Qard Al-Hasan Association is a loophole in Lebanese law." The change in terminology does not alter the legal nature, which means that it is, in essence, a bank under legal reality and cannot be considered a non-profit charity organization, as it identifies itself. Specific circulars about Al-Qard Al-Hasan refer to contributions rather than deposits and contributors rather than depositors, thus implying manipulation in terminology, although the essence remains the same. However, more importantly, no bank is legally allowed to operate without prior authorization from the Central Bank of Lebanon.
For years, Al-Qard Al-Hasan has been setting its own rules and conducting transactions independently of the Central Bank's regulations and the Lebanese Monetary and Credit Law. The Al-Qard Al-Hasan Association has no affiliation with the Central Bank of Lebanon, does not comply with the Monetary and Credit Law, which regulates the relationship between financial institutions and the Central Bank, and is registered with the Ministry of Interior as a charitable organization.
On April 22, 2021, lawyer Majd Harb filed a complaint before the judiciary against the activities of Al-Qard Al-Hasan, citing that they violate the provisions of the Monetary and Credit Law, which stipulates in Article 206 that violators should be prosecuted before criminal courts. The complaint pointed to how Al-Qard Al-Hasan's activities have expanded as a result of non-compliance with banking laws, facilitating its transformation into an institution for "money laundering" that benefits drug traffickers. To this day, the complaint remains stuck in the judicial system.
It's worth recalling what Hezbollah's Secretary-General, Sayyed Hassan Nasrallah, said in January 2021 when defending the Al-Qard Al-Hasan Association, "The total number of beneficiaries from Al-Qard Al-Hasan has reached about 1.8 million people, and the total contributions and loans granted to people have exceeded 3 billion dollars," openly admitting that the institution's funding source is entirely from Tehran.
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Jammal Trust Bank: The First Victim
In July 2007, the US Treasury Department imposed sanctions on the Al-Qard Al-Hasan Association, asserting that Hezbollah's financial activities with the association gave the party access to the international banking system through accounts held by key Hezbollah financiers within the association. Employees of the Al-Qard Al-Hasan Association used personal accounts at Jammal Trust Bank for commercial transactions.
At the end of December 2020, a hacker known as "Spiderz" infiltrated the accounts of the Al-Qard Al-Hasan Association in Jammal Trust Bank, which had been subjected to US sanctions in 2019 for allegedly facilitating Hezbollah's financial activities according to accusations from the US Treasury. On September 19, 2019, the Central Bank of Lebanon approved the liquidation of Jammal Trust Bank. Today, the repercussions of the data breach that occurred in 2020 are also resurfacing after the surveillance cameras in all branches were hacked. Lists of borrowers’ names from 2019 and 2020 were published, along with details regarding the loan amounts, repayment status and personal information of the borrowers, which Israel might have used to gather information on Hezbollah members and their data, as the majority of Al-Qard Al-Hasan beneficiaries are either party members or at least from its supportive community, turning Al-Qard Al-Hasan from a "blessing" for the party into a tool that Israel may have used against it.
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Data Theft Exposed Hidden Facts!
Returning to what was published by the Iran International website, quoting the Foundation for Defense of Democracies, excerpts from leaked documents from the Lebanese Al-Qard Al-Hasan Association reveal that the association currently holds 400,000 accounts belonging to individuals, entities, Lebanese expatriates, Hezbollah cadres and institutions. These accounts belong to financiers of the Al-Qard Al-Hasan Association and Hezbollah-affiliated individuals with extensive business interests, especially in Africa. Among those listed in the leaked data:
- Ali Tajeddine
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One of three brothers sanctioned by the US Treasury Department in 2009 and 2010 for being major fundraisers, financial contributors and money launderers for Hezbollah.
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The US Treasury identified Tajeddine as a "former Hezbollah official" who provided cash to the party in installments of up to one million dollars.
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He is a major player in Jihad Al-Binaa, a construction company based in Lebanon founded and managed by Hezbollah, which was placed on the sanctions list by the US Treasury in February 2007.
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He is also a co-owner of Tajco, a multinational company designated by the Treasury in 2010 as "the main entity for purchasing and developing real estate in Lebanon on behalf of Hezbollah."
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Under the name of Tajco, Ali Tajeddine developed real estate, established mortgage loans and secured life insurance for mortgage borrowers.
- Hussein and Zahra Tajeddine
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Hussein and Zahra, the son and daughter of Ali Tajeddine, hold positions in companies controlled by the Tajeddine family, such as Tajco, which is under US sanctions.
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Washington has not listed either of them under sanctions.
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Hussein owns a 20% share in Tajco, alongside his mother and brother Hassan.
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Zahra is a co-founder along with her mother and brother Hassan of Al-Burhan Development and Development Company, which is controlled by the Tajeddine family.
- Hussein Ahmed Issawi
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The leaked documents list Hussein Ahmed Issawi among the top depositors and account holders in the Al-Qard Al-Hasan Association.
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He is part of a family with extensive business interests in the Democratic Republic of the Congo.
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He holds dollar-denominated accounts in the Al-Qard Al-Hasan Association.
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Iranian Accounts in Al-Qard Al-Hasan Association
- Iranian Martyrs' Foundation for Veterans
The hack revealed that the Lebanese branch of the Iranian Martyrs Foundation, which was sanctioned by the US Treasury in 2007, holds several accounts in the Al-Qard Al-Hasan Association.
The Martyrs' Foundation, established by Ayatollah Khomeini in 1980, provides financial support to the families of those killed or disabled during the Iran-Iraq war.
The foundation also directs funds from Iran to its regional allies, foremost among them Hezbollah.
- Imam Khomeini Relief Committee
The Al-Qard Al-Hasan Association holds accounts for the Lebanese branch of the Imam Khomeini Relief Committee, also known as the Islamic Charitable Relief Committee. The US Treasury imposed sanctions on it in 2010, along with its director Ali Hassan Zreik, who also holds accounts in the Al-Qard Al-Hasan Association.
- Mahan Air and Sky Gift
The US Treasury imposed sanctions on Mahan Air, Iran's largest commercial airline, in 2011 for supporting the Iranian Revolutionary Guard Corps.
The Al-Qard Al-Hasan Association held accounts in Lebanese pounds and US dollars on behalf of Mahan Air under the names of two Lebanese individuals with the surnames Ayyoub and Saeedi.
Sky Gift may be the local general sales agent for Mahan Air.
The US Treasury has sanctioned three local sales agents for Mahan Air since 2018 (in China, Malaysia and Thailand).
- East Star
The Al-Qard Al-Hassan Association held accounts in Lebanese pounds and US dollars under the names Ayoub and Al-Saidi on behalf of an entity called East Star.
The Asfar East Star agency acts as a sales agent for Mahan Air, an Iranian airline.
- Iran Air
The Al-Qard Al-Hassan Association opened accounts in Lebanese pounds and US dollars for Iran Air under the names Rouhani and Kasri.
The US Treasury Department imposed sanctions on Iran Air in 2011 and again in 2018 when the Trump administration reinstated sanctions that had been lifted by the Obama administration as part of the 2015 Joint Comprehensive Plan of Action (JCPOA).
- Iranian Red Crescent
The Al-Qard Al-Hassan Association holds accounts for the Iranian Red Crescent and used these accounts to send funds to Iran following major floods in 2019.
- Office of the Supreme Leader of Iran, Ayatollah Ali Khamenei
Documents revealed the existence of accounts, including one for the Office of the Supreme Leader of Iran, Ayatollah Ali Khamenei, under the name "Account of the Guardian Jurist."
- Representative of the Supreme Leader
The documents revealed that Issa Tabatabaei, who acts as a representative of the Iranian Supreme Leader Ali Khamenei and a close partner of Hezbollah, also holds an account with Al-Qard Al-Hassan. Tabatabaei founded and oversees the Imam Khomeini cultural centers and has helped establish various party institutions, such as the Imam Khomeini Relief Committee, the Martyrs Foundation and the Al-Rassoul Al-Azam Hospital.
- Iranian Embassy in Beirut
The leaked data indicated that the Iranian Embassy in Beirut holds an account with Al-Qard Al-Hassan.
- Accounts for Iranian Media Institutions in Al-Qard Al-Hassan
Euro-denominated accounts for the Iranian Radio and Television Office, known as the Islamic Republic of Iran Broadcasting (IRIB), which was sanctioned in 2013.
Accounts for officials of Press TV, including Naji Janani, the former news director of the Arabic-language Iranian channel Al-Alam.
Accounts for officials of Al-Alam channel, including Mahmoud Boujnourdi, who served as the channel's director in Beirut and as the general manager of Iranian foreign channels in Lebanon.
- Bank Saderat Iran
The Al-Qard Al-Hassan Association holds accounts linked to this Iranian bank, which was sanctioned by the United States and the European Union, but the EU lifted the sanctions in 2015.
- Donations to the Houthis in Yemen
The documents also reveal that the Al-Qard Al-Hassan Association maintains an account for donations to the Houthis in Yemen, under the title "Donations for the Children of Yemen."
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