The IDF launched strikes on Hezbollah's financial institutions on Sunday after the military warned civilians to stay away in Beirut's Dahieh district and in the Bekaa Valley region.
Panicked crowds clogged the streets and caused traffic jams in some parts of Beirut as they tried to get to neighborhoods thought to be safer, witnesses said.
"Anyone near sites used for Hezbollah's terrorist financing must evacuate immediately," IDF spokesperson Rear Admiral Daniel Hagari said and the Arabic Language spokesperson posted a similar warning on social media, shortly before the strikes began.
"In the coming days, we will reveal how Iran funds Hezbollah's terrorist activities using civilian institutions, associations, and charities as covers. We will strike these targets tonight and update on the results in the coming days," Hagari said.
The military said that infrastructure belonging to the Al-Qard al-Hassan association, linked to Hezbollah will be targeted. It has more than 30 branches across Lebanon including 15 in densely populated parts of central Beirut and its suburbs.
Traffic jams in Beirut as people flee from IDF strikes on Hezbollah banks
"A significant portion of Hezbollah's activities, funded by Iranian state budgets, is conducted through these funds, intended for terrorist activities, including armament, weapons storage facilities, launch sites, member salaries, and other operations," the IDF said. "We urge those inside Hezbollah-used structures to evacuate at least 500 meters away in the coming hours."
These banks, which IDF plans to attack, hold Iranian currency converted into dollars in Syria, arriving in Lebanon in suitcases—hundreds of millions to a billion dollars in cash annually, primarily for salaries and military infrastructure, according to military intelligence.
The IDF said Hezbollah has become Lebanon's strongest and wealthiest employer amid an ongoing economic crisis that began in 2019. The average Hezbollah operative earns a monthly salary of $500. The economic association serving as Hezbollah's bank is subject to heavy sanctions and therefore not connected to international clearing systems. It operates 35 branches across Lebanon with ATMs. According to IDF, all of Hezbollah's financial reserves are held in cash and gold at these branches.
Hezbollah's financial power centers will also be targeted. "This will destabilize Hezbollah, preventing it from providing stability and security to its operatives and employees," the military said. "Hezbollah structured this as an association and system from which it financially benefits, including schools and clinics. Many buildings will fall, and assets will be targeted. The operation is part of the strategic plan against Hezbollah."
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