The Lebanese financial institution al-Qard al-Hassan, allegedly controlled by the terrorist group, had already been sanctioned in 2007 because it facilitated access to the formal financial network and circumventing American sanctions
The Treasury Department of United States announced on Thursday (3) new sanctions against seven high employees and a company linked to the Lebanese financial institution al-QARD AL-HASSAN (AQAH), allegedly controlled by Hezbollah. Aqah had already been sanctioned in 2007 because it facilitated the group’s access to the formal financial network and to circumvent American sanctions. “Through their positions in AQAH, these employees sought to overshadow Hezbollah’s interests in seemingly legitimate transactions with Lebanese financial institutions,” said Treasury Deputy Secretary Michael Faulkender. According to the Treasury, the targets of the measure operated “in critical functions” for Aqah and “some have been linked to the institution for over two decades.”
In addition to administrative positions, they opened joint bank accounts and moved millions of dollars on behalf of Hezbollah, using methods similar to those of previously sanctioned “bankers”, says the statement. Among those sanctioned are Nehme Ahmad Jamil, head of Aqah’s audit and business departments and co -owner of Tashilat Sarl, also sanctioned; Issa Hussein Kassir, responsible for logistics; and Samer Hasan Fawaz, Director of Administration. The Treasury also identified direct involvement of these individuals with gold purchase, bank account management on behalf of Hezbollah and support to already sanctioned financial institutions, such as Jammal Trust Bank.
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The sanctions were imposed on the basis of executive order that deals with individuals and entities linked to global terrorism. “The measure reinforces the commitment of the Treasury to support the efforts of the new Lebanese government to limit the influence of Hezbollah, at a time when entities such as AQAH continue to weaken the already fragile Lebanese economy,” the statement says.
*With information from Estadão Content
Posted by Fernando Dias
Source: Jovempan
I have been working as a journalist for over 10 years. In that time, I have covered the news from all corners of the world, and written about everything from politics to business.I’m now a full-time author, and my work can be found at Global happenings. My aim is to bring you up-to-date news and views on global affairs, in a format that is easy to read and understand.
