On Thursday, May 18, Lebanese Forces (LF) MPs Fadi Karam, Antoine Habchi, and Saeed Asmar held a press conference at the Parliament, where they revealed that no legal action has been taken by the Public Prosecution regarding the Al-Qard Al-Hassan (AQAH) organization.
Two months earlier, on March 2, 2023, the three MPs had filed a complaint with the Public Prosecution regarding the legal violations resulting from AQAH’s activities.
Karam, Habchi and Asmar accuse AQAH of engaging in activities that typically fall under the purview of a banking institution, despite being officially registered as an NGO with the Ministry of Interior. They argue that AQAH has taken actions that contravene the Code of Money and Credit, as well as circulars issued by the Central Bank of Lebanon.
The MPs claim that AQAH is exposing Lebanon to potential sanctions by allegedly “facilitating money laundering and financing terrorism.”
To support their claims, they provided evidence of legal violations committed by the organization, which include contravening Lebanese laws governing the establishment of banks. They emphasized the potential consequences of AQAH continuing to operate in Lebanon.
Furthermore, the three MPs called upon the Public Prosecution to take appropriate action and not overlook the complaint. They promised to follow up on the case until “the law is enforced.”
This is not the first time that AQAH’s activities have faced judicial scrutiny. On April 22, 2021, lawyers Majd Harb and Elie Kyrillos submitted a request for a judicial investigation to the General Prosecutor of Mount Lebanon, Ghada Aoun. The request was based on the argument that the “NGO” was violating the provisions of the Code of Money and Credit.
However, Aoun, who had initiated a politically motivated campaign against “legitimate” banks in Lebanon, did not pursue this request. She has since been dismissed from the judiciary body by a decision issued by the disciplinary council.
Hezbollah’s AQAH Bank is currently taking advantage of the economic crisis and the collapse of the banking sector by spreading its branches across Lebanese territory in pursuit of further “expansion.”
