Al-Qard Al-Hasan Association
| Company type | Non-profit financial institution; Hezbollah's de facto banking arm |
|---|---|
| Industry | Financial services |
| Founded | 1982 |
| Founder | Hezbollah social services |
| Headquarters | , |
Number of locations | approx. 30 branches |
Area served | Shias in Lebanon |
| Products | Interest-free loans, money transfer, pawn broker, microfinance; allegedly money laundering |
| Owner | Hezbollah |
| Website | qardhasan |
| Part of a series on |
| Hezbollah |
|---|
Al-Qard Al-Hassan or Al-Qard Al-Hasan 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 in Lebanon. It is based on the Islamic principle of interest-free loans of the same name (Qard al-Hasan).
Al-Qard Al-Hasan was founded as an Islamic financial institution by Hezbollah social services in 1982. Its primary aim was to financially assist the Libanese Shiite community during the hardships of the Lebanese Civil war. It was officially recognised as a social association by the Lebanese government in 1987, and has developed over 30 branches all across Lebanon, including in the Dahieh neighbourhood controlled by Hezbollah. Since the 2019 Lebanese liquidity crisis and the further financial catastrophe as a result of the 2020 Beirut port explosion and Covid-19, Al-Qard Al-Hasan has become increasingly more important as a financial refuge for citizens.
The association operates outside of the regulation and control of the Central bank of Lebanon. This has raised concerns about illicit practices and corruption. The association has been sanctioned by the United States due to its ties to Hezbollah since 2007. Al-Qard Al-Hasan has also been classified a terrorist entity by Saudi Arabia in 2021 and Israel in 2024 due to its funding of hezbollah including support to the group military activity .
In October 2024 the association was targeted by Israeli airstrikes.