What is the Hezbollah-linked financial institution Al-Qard Al-Hassan?

"Al-Qard Al-Hassan, a quasi-banking institution that offers interest-free loans to people, is one of the many charity organisations run by Hezbollah, including schools, hospitals and low-price grocery stores."

"It is a financial institution that offers microcredit to people in Lebanon. Many people in the country might use it to keep money or to take loans on gold. It differs from a traditional bank in that it doesn't take banking fees or interest on the loans."

"The institution, founded in 1983, is linked to Hezbollah but serves people of all religious communities. It became more prominent in recent years, after Lebanon's banking system collapsed in 2019."

Al-Qard Al-Hassan is a quasi-banking institution founded in 1983 that provides interest-free microcredit and financial services to Lebanese residents. Though affiliated with Hezbollah, it serves people of all religious communities and operates outside Lebanon's regulated banking system. The institution offers smaller loans backed by gold deposits and bank accounts without traditional fees. It gained prominence after Lebanon's banking system collapsed in 2019. Israel targeted a Beirut branch on Monday as part of renewed attacks on Hezbollah-linked organizations following escalated tensions in March, during which Israel has killed nearly 500 people including 83 children.

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