On Sunday night, the IAF conducted a series of targeted, intelligence-based strikes against dozens of facilities and sites used by the Hezbollah terrorist organization to finance its terrorist activities against the State of Israel. The strikes were conducted in the areas of Beirut, southern Lebanon, and deep within Lebanese territory.

"These funds, which Hezbollah used for terror activities, were stored by the al-Qard al-Hassan association, which directly funds Hezbollah's terror activities, including the purchase weapons and payments to operatives in Hezbollah's military wing," the IDF stressed. "The Hezbollah terrorist organization stores billions of dollars in the association's branches, including money that was directly held under the name of the terrorist organization."

"Prior to the strike, numerous steps were taken to mitigate the risk of harming civilians, including advance warnings issued via different platforms to the civilian population in the area."

These strikes are part of the IDF's ongoing efforts to degrade Hezbollah's terror infrastructure, its military capabilities and ability to rebuild.

The al-Qard al-Hassan association is operated by Hezbollah, and functions as a network of banks. It serves as part of the social services infrastructure Hezbollah provides to the Shiite community in Lebanon, while at the same time serving as a pathway for money laundering.

According to Kan News, al-Qard al-Hassan offers no-interest loans, in accordance with Sharia law. Throughout the years, this service drew the Shiite community in Lebanon to the Hezbollah terror group. For many years, the "charity fund" allowed Hezbollah to hide the source of the funds transferred to it. However, in 2007, the US imposed sanctions on the group, naming its funding for terror as the reason for the sanctions.