Arab nations of the Persian Gulf, in coordination with the United States, on Tuesday added multiple Hezbollah-affiliated financial institutions and officials to their list of terrorism-related sanctions designations.
The joint actions, imposed against five entities and 16 individuals, were taken by member states of the Terrorist Financing Targeting Center (TFTC), which includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, the United Arab Emirates and the United States.
The sanctions designations include al-Qard al-Hassan Association (AQAH), which is a Hezbollah-affiliated financial institution that was previously designated by the US in July 2007. Bayt al-Mal, a financial services entity that is often considered the Iranian-backed Lebanese militant group’s unofficial “treasury” department, was also designated. It was initially designated by the US in September 2006.
Senior officials including the head of Hezbollah’s Central Finance Unit, Ibrahim Ali Daher, and the financial director of al-Qard al-Hassan, Ahmad Mohammad Yazbek, were also added to the sanctions list.
“The networks designated by TFTC today threaten regional stability, international security, mutual interests, and global trade. By restricting Hizballah’s access to funding, TFTC members are working to protect the integrity of the international financial system, support the Lebanese people, and counter terror networks,” the statement added.
