A Lebanese bank, MEAB, and its owner, Ali Hjeij, have come under renewed scrutiny following the introduction of H.R. 5945, a bill proposed in the U.S. House of Representatives. Officially titled the “Freezing and Halting Any More Alleviation of Sanctions Act” (Freezing-HAMAS Act), the legislation seeks to reinstate sanctions on Iran that were previously waived under an agreement permitting the transfer of $6 billion in Iranian funds from South Korea to Qatar.
MEAB has faced heightened attention due to its ties and transactions with Hezbollah-affiliated Al-Qard Al-Hassan. Established in 1983, Al-Qard Al-Hassan describes itself as a charitable organization providing interest-free loans in adherence to Islamic principles. The organization operates over 30 branches, predominantly in Shi’ite-majority areas of Beirut, southern Lebanon, and the Bekaa Valley, under a license issued by the Lebanese government. However, it has been accused of functioning as a money laundering entity, facilitating financial transactions for Iran and Syria, brokering arms and drug deals, paying Hezbollah fighters, and establishing an alternative economic system.
The introduction of the Freezing-HAMAS Act followed the October 2023 Hamas attacks on Israel, which heightened concerns about Iran’s support for terrorist organizations. The bill’s objective is to prevent Iran from accessing the released funds for any purposes, including humanitarian aid.
MEAB has returned to the spotlight after Israel targeted many Al-Qard Al-Hassan branches during its military operations in Lebanon over the past five months. The alleged connections between MEAB’s board members, including its CEO, and Hezbollah, along with claims of facilitating cash flows to the group, have drawn significant attention from U.S. authorities.
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