Hezbollah’s Al-Qard Al-Hassan on Verge of Bankruptcy, Depositors’ Money at Risk

Leaked documents show that AQAH is heading towards bankruptcy.
Leaked documents show that AQAH is heading towards bankruptcy.
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Hezbollah’s Al-Qard Al-Hassan on Verge of Bankruptcy, Depositors’ Money at Risk

Leaked documents show that AQAH is heading towards bankruptcy.
Leaked documents show that AQAH is heading towards bankruptcy.

A week after hackers breached Hezbollah’s financial institution, Al-Qard Al-Hassan (AQAH), and published data pertaining to the depositors’ accounts, a Twitter user under the name of Bankinstein leaked information on the institution, revealing that it was heading towards potential bankruptcy.

According to the leaked information, the financial institution – which works independently from the Lebanese official banking system – owns deposits worth USD 500 million, while it disbursed loans of about USD 450 million. Gold deposit loans represent only 64 percent of AQAH loan balance, while 8 percent are unsecured loans.

Last month, a cyber hacker under the name of Spiderz managed to breach some of the accounts of Al-Qard Al-Hassan and released the names of alleged banks and citizens who had accounts with the financial institution and disclosed the number of accounts, addresses and phone numbers.

Political researcher and university professor Makram Rabah believes that evaluating AQAH on the basis of a faltering or non-faltering institution is imprecise, as the primary goal of this institution is to launder Hezbollah’s money, not to preserve the deposits of its clients.

In remarks to Asharq Al-Awsat, Rabah said that the recent piracy raises questions and might be an inside operation. He noted that it was likely that the institution will take the hacking as an excuse to refrain from returning the deposits to their owners, especially as AQAH is not subject to the laws governing the Lebanese banking system.

Established in the 1980s, Al-Qard Al-Hassan provides small-sized and short-term loans to its clients, who deposit money in the association on a monthly basis. It also gives loans against gold guarantees.

In April 2016, the US Treasury Department included AQAH on its sanctions list (based on a 2015 legislation). Three years later, the association opened two accounts to transfer donations to the flood victims in Iran by the Iranian Red Crescent and the Hezbollah Imdad Association.



Thomas Barrack: Syria’s Joining Abraham Accords ‘Could Take Time’

HANDOUT - 19 June 2025, Lebanon, Beirut: US Special Envoy to Syria Tom Barrack speaks during a press conference in Beirut. Photo: Hassan Ibrahim/Lebanese Parliament/dpa
HANDOUT - 19 June 2025, Lebanon, Beirut: US Special Envoy to Syria Tom Barrack speaks during a press conference in Beirut. Photo: Hassan Ibrahim/Lebanese Parliament/dpa
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Thomas Barrack: Syria’s Joining Abraham Accords ‘Could Take Time’

HANDOUT - 19 June 2025, Lebanon, Beirut: US Special Envoy to Syria Tom Barrack speaks during a press conference in Beirut. Photo: Hassan Ibrahim/Lebanese Parliament/dpa
HANDOUT - 19 June 2025, Lebanon, Beirut: US Special Envoy to Syria Tom Barrack speaks during a press conference in Beirut. Photo: Hassan Ibrahim/Lebanese Parliament/dpa

Syria and Israel are engaged in “meaningful” talks through the United States that aim to restore calm along their border, according to Thomas Barrack, US President Donald Trump’s envoy to Syria.

Barrack said in an interview with The New York Times on Thursday that the administration wanted Syria to join the Abraham Accords, but “this could take time” because Syria’s new President Ahmed al-Sharaa could face resistance at home.

“He cannot be seen by his own people to be forced or coerced into the Abraham Accords,” Barrack said. “So he has to work slowly.”

Trump tapped Barrack, an old friend and private equity investor, to help realize his vision for the Middle East, which the administration hopes will foster less conflict and more prosperity.

Trump made clear during his Mideast visit in May that lucrative business deals in sectors including arms and artificial intelligence were his priority, and his decision to bomb nuclear enrichment facilities in Iran last month showed his support for Israel and willingness to use force against American foes.

Barrack called the US administration’s approach a departure from previous “failed” American attempts at “nation building” and from past efforts to shape how other governments rule.

Much of Barrack’s work has focused on pushing Syria and Lebanon, both recovering from destructive wars, toward solving their own problems while rallying support from Qatar, Saudi Arabia, Türkiye and other regional partners.

It is unclear whether Trump’s focus on prioritizing economic development over vocal support for democracy will fare better than the efforts of previous administrations to address some of the Middle East’s most bedeviling problems, according to The New York Times.

Barrack, in his first diplomatic job at age 78, has been working his relationships with heads of state and other power brokers. He said that having a direct line to the White House and to Secretary of State Marco Rubio, and the fact that the administration had “little patience for the region’s resistance to helping itself,” had helped.

Much of Barrack’s effort has focused on Syria, where the fledgling government of al-Sharaa is trying to rebuild the country after a 13-year civil war.

Trump signed an executive order this week aimed at ending decades of US sanctions on Syria.

Barrack said that instead of making strict demands, the administration had laid out objectives for the Syrian government to work toward while Washington monitored its progress.

Those indications would include finding a peaceful accommodation with Israel; integrating the US-backed, Kurdish-led militia that controls Syria’s northeast; and investigating the fates of Americans who went missing during the war.

Progress on democratization and inclusive government will not happen quickly, Barrack said, and are not part of the US criteria.

American officials have expressed concerns about the thousands of fighters who came to Syria from abroad to take part in the war, mostly as part of militant groups.

Barrack said Washington realized that Syria could not expel those who remained and that they could pose a threat to the new government if they were excluded. So the Trump administration instead expects transparency about the roles they are given.

Lifting sanctions to encourage changes worked better than keeping them in place until Syria met specific demands, Barrack said.

“It is a brilliant way to accomplish the same thing, and these roll-on, roll-off sanctions have never worked anyway,” he said.

The new Syrian government’s relations have been tense with Israel, whose military has moved into southern Syria and often carried out operations there. The talks aim to quiet the conflict along the border while laying the groundwork for better relations.