Al-Qard Al-Hasan Association

Al-Qard Al-Hassan (AQAH) or Al-Qard Al-Hassan Association (Arabic: جمعية مؤسسة القرض الحسن, lit. 'the benevolent loan') is a Hezbollah-affiliated non-profit financial institution, that provides interest-free loans and other financial services to the Shia community, providing support amidst widespread poverty. It is based on the Islamic principle of interest-free loans of the same name (Qard al-Hasan).

Despite being registered as a charitable organization, Qard Al-Hassan has been accused of operating similarly to a bank. The organization is often described as Hezbollah's financial arm, providing microfinance services to individuals and small businesses in Lebanon.

Due to its ties to Hezbollah, it has been subject to sanctions by the U.S. Treasury Department, which designates Hezbollah as a terrorist organization. These sanctions limit Qard Al-Hassan's access to international financial systems and complicate its operations outside of Lebanon.

History

Established in 1982 with the primary goal of supporting local communities that were affected by the hardships of the Lebanese Civil War. It was officially registered as a social association in 1987. Its primary role is to provide loans, typically secured by gold collateral, to individuals who may not have access to traditional banking services due to Lebanon's ongoing liquidity crisis and the collapse of its banking sector.

Sanctions

The United States and other countries have imposed sanctions on AQAH, alleging its involvement in supporting Hezbollah's terrorist activities.