The US Treasury Department sanctioned the Al-Qard Al-Hasan Association in 2016; however, this was largely ineffective.

BEIRUT — Israel’s military announced Sunday it is now taking aim at the Lebanon-based Hezbollah’s financial arm and will attack a “large number of targets” in Beirut and

Hundreds of Beirut residents fled their homes late on Sunday after Israel said it was preparing attacks on sites linked to the financial operations of Hezbollah and told people to leave those areas of Lebanon's capital immediately.

Explosions in Beirut after Israel warns of overnight strikes - Blasts began in the southern suburbs of Lebanon’s capital on Sunday evening

Hasan, which functions as Hezbollah’s de facto banking arm but also operates as an alternative bank for Lebanese, were targeted around Beirut and across the country’s south and east.

BEIRUT/CAIRO (Reuters) -Hundreds of Beirut residents fled their homes late on Sunday after Israel said it was preparing attacks on sites linked to the financial operations of Lebanon's Hezbollah group and told people to leave those areas immediately.

The Israeli Defense Forces is expected to conduct airstrikes in Lebanon targeting financial institutions linked to the Iran-backed militant group Hezbollah.

Israel’s military said it plans to launch a wave of air strikes across Lebanon, which it said would target Hizbollah-affiliated financial institutions as it prepared to dramatically widen its offensive against the militant group.