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US Treasury Sanctions Lebanon’s Jammal Trust Bank For Hezbollah Support

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The US on Thursday sanctioned Lebanon-based Jammal Trust Bank SAL and its subsidiaries for allegedly facilitating the financial activities of Hezbollah, according to the Treasury Department. 

It said the bank gives money to the families of suicide bombers.

“The Treasury is targeting Jammal Trust Bank and its subsidiaries for brazenly enabling Hezbollah’s financial activities,” the statement said.

“Corrupt financial institutions like Jammal Trust are a direct threat to the integrity of the Lebanese financial system.

“Jammal Trust provides support and services to Hezbollah’s Executive Council and the Martyrs Foundation, which funnels money to the families of suicide bombers,” said Sigal Mandelker, Under Secretary for Terrorism and Financial Intelligence. 

“The US will continue to work with the Central Bank of Lebanon to deny Hezbollah access to the international financial system. This action is a warning to all who provide services to this terrorist group.”

The Department of State designated Hezbollah as a Foreign Terrorist Organization in October 1997 and as a Specially Designated Global Terrorist (SDGT) in October 2001.

Separately, the Treasury also sanctioned four individuals for moving money from Iran’s Islamic Revolutionary Guard Corps (IRGC) to Hamas through Hezbollah, which the US says is backed by Iran.



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Arab News

Arab News

Arab News is Saudi Arabia's first English-language newspaper. It was founded in 1975 by Hisham and Mohammed Ali Hafiz. Today, it is one of 29 publications produced by Saudi Research & Publishing Company (SRPC), a subsidiary of Saudi Research & Marketing Group (SRMG).

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