The member states of the Terrorist Financing Targeting Center (TFTC) on Tuesday announced coordinated sanctions against what they described as key pillars of Hezbollah's financial network, targeting five entities and 16 individuals linked to the group's financial operations.

The joint action focuses on Hezbollah's financial institutions, including Al-Qard Al-Hassan (AQAH) and Bayt al-Mal, along with senior officials accused of managing the group's finances, facilitating banking activities, and helping it evade international sanctions.

The U.S. Department of the Treasury said all of those designated had already been sanctioned by the United States, adding that the coordinated action demonstrates the TFTC members' commitment to disrupting Hezbollah's ability to exploit the international financial system.

The Treasury said the TFTC works through joint actions, including sanctions designations, information-sharing on terrorist financing networks, and capacity building among member states to counter terrorist organizations that threaten regional security and stability.

According to the department, the networks targeted "threaten regional stability, international security, mutual interests, and global trade." It said restricting Hezbollah's access to funding is intended to protect the integrity of the international financial system, support the Lebanese people, and counter terrorist financing.

The latest action marks the third TFTC designation under the current U.S. administration and the ninth since the center was established under President Donald Trump in May 2017.

Al-Qard Al-Hassan

The Treasury described Al-Qard Al-Hassan, known as AQAH or "The Benevolent Loan Association," as a Hezbollah-controlled financial institution operating under the cover of a non-governmental organization licensed by Lebanon's Interior Ministry.

Although registered as an NGO, the department said AQAH effectively functions as a bank by providing financial services beyond those disclosed in its registration documents while moving funds through shell accounts and facilitators.

According to the Treasury, Hezbollah uses AQAH to finance its militant activities, accumulate hard currency needed by Lebanon's struggling economy, expand its support base, and undermine the stability of the Lebanese state.

The department said AQAH assumed an increasingly central role in Hezbollah's financial structure after much of Bayt al-Mal was destroyed during the 2006 war. Following the U.S. designation of Bayt al-Mal that year, Hezbollah allegedly transferred much of its financial activity to AQAH, while bank accounts formerly belonging to Bayt al-Mal were re-registered under senior AQAH officials, allowing sanctioned Hezbollah-linked entities and individuals to continue accessing the banking system.

AQAH was first sanctioned by the Treasury's Office of Foreign Assets Control (OFAC) on July 24, 2007, under Executive Order 13224.

Bayt al-Mal

The Treasury said Bayt al-Mal functions as Hezbollah's unofficial treasury, holding and investing the group's assets while serving as an intermediary between Hezbollah and commercial banks.

Operating under the direct supervision of Hezbollah's secretary-general, Bayt al-Mal serves as the group's bank, creditor and investment arm, with headquarters in Hezbollah's stronghold in Beirut's southern suburbs.

Bayt al-Mal was designated by OFAC on Sept. 7, 2006, under Executive Order 13224.

Senior Hezbollah financial officials

Among those designated is Ibrahim Ali Daher, head of Hezbollah's Central Finance Unit, which oversees the group's overall budget, spending and financing of operations inside and outside Lebanon. The Treasury said the unit receives Hezbollah's worldwide income, manages and audits budgets across all departments, coordinates payments to members, and operates within the group's Executive Council under the direction of Hezbollah's secretary-general. Daher has been a central figure in Hezbollah's financial infrastructure for more than 15 years and was sanctioned by OFAC on May 11, 2021.

The Treasury also designated Adel Mohamad Mansour, AQAH's long-serving executive director, accusing him of using personal bank accounts to conduct transactions with Hezbollah institutions. Mansour was sanctioned on Dec. 1, 2022.

Ahmad Mohamad Yazbeck, AQAH's financial director, was identified as one of several officials who allegedly maintained joint bank accounts at Lebanese banks, including the already U.S.-designated Jammal Trust Bank (JTB), allowing more than $500 million to move through the formal financial system over more than a decade despite sanctions. The Treasury also accused Yazbeck of operating "shadow accounts" on Hezbollah's behalf and said he jointly owns Tashilat SARL with Nehmeh Ahmad Jamil.

The Treasury identified several additional AQAH officials allegedly involved in similar activities, including Abbas Hassan Gharib, Mustafa Habib Harb, Ezzat Youssef Akar, and Hasan Chehadeh Othman. According to the department, they maintained joint accounts with Yazbeck, including accounts at Jammal Trust Bank, enabling transfers exceeding $500 million while operating "shadow accounts" used to conduct transactions on Hezbollah's behalf.

Other AQAH officials designated include Samer Hasan Fawaz, who heads AQAH's management division and oversees administration, logistics and procurement; Ali Mohamad Karnib, head of AQAH's purchasing department, who the Treasury said supervised the purchase of more than 1,000 ounces of gold for the institution as of July 2024; Nehmeh Ahmad Jamil, head of AQAH's auditing and business departments who has managed financial services for Hezbollah and affiliated institutions for nearly two decades; Issa Hussein Kassir, who oversees procurement and logistics for AQAH branches and allegedly transferred nearly $1 million to Yazbeck, Gharib and Othman between 2007 and 2019; Ali Ahmad Krisht, manager of AQAH's Tyre branch who allegedly maintained multiple bank accounts on Hezbollah's behalf; Naser Hassan Neser, a managing partner at Auditors for Accounting and Auditing who reported to senior Hezbollah finance officials, including Daher; Wahid Mahmud Subayti, accused of conducting transactions through "shadow accounts"; Mohammed Suleiman Badir, deputy director of AQAH's Nabatiyeh branch who allegedly helped implement Hezbollah's plan to circumvent the formal banking system through personal accounts; and Imad Mohamad Bezz, head of AQAH's evaluation and storage department, who oversees gold transactions and allegedly transferred more than $2.5 million to accounts held by other AQAH officials.

Companies linked to Hezbollah's financial operations

The coordinated sanctions also target three companies that the Treasury said supported Hezbollah's financial activities.

Al-Khobara for Accounting, Auditing, and Studies was described as being owned or controlled by Mansour, who serves as its chief executive. The Treasury said the company operates from the AQAH building, provides accounting services to AQAH, and has been managed by senior AQAH officials, including Mansour. It also identified U.S.-designated Hezbollah financier Hussein al-Shami, a former head of both AQAH and Bayt al-Mal, and Yazbeck as senior company officials. The Treasury said Hezbollah financial operatives had assisted Al-Khobara employees for years in dealings with Lebanon's Finance Ministry regarding tax payments.

Tashilat SARL, jointly owned by Jamil and Yazbeck, was accused of providing loans on Hezbollah's behalf while serving as an integral component of AQAH's and Bayt al-Mal's operations. The Treasury said the company was designated for being owned, controlled or directed by, or acting on behalf of, Jamil, Yazbeck and Hussein al-Shami.

The Treasury also designated Auditors for Accounting and Auditing, saying it is majority-owned and managed by Daher and provides financial services to Hezbollah's Central Finance Unit.

The department noted that many of the individuals and entities designated Tuesday had previously been sanctioned by OFAC under Executive Order 13224, as amended, in actions spanning from 2006 through 2025.