- Lebanon's banking system collapses in Israeli attack
Israel attacked several branches of Lebanon's largest bank, Al-Qard Al-Hassan, on October 21. The attack is considered a major blow to the pro-Iranian organization Hezbollah in Lebanon.
In fact, the attack on the Lebanese quasi-banking institution al-Qard al-Hassan has broken Hezbollah's back because all of Hezbollah's funding, illegal extortion, and income from its black drug business, which stretches from South Africa to Europe, was transacted in this bank. A media report quoting former US officials claimed that Hezbollah has increased its supply of drugs to the European market as its coffers are depleted.
Hezbollah Earnings Through Drugs, Real Estate, Meat Hezbollah chief Hassan Nasrallah, who was killed in an Israeli strike on September 27, had greatly strengthened the organization financially over the past 30 years. Hezbollah topped Forbes' list of the world's richest terrorist organizations. Forbes estimates that the annual budget allocated to Hezbollah is Rs. 5 thousand crore to Rs. It is estimated to be between 6 thousand crores. Nasrallah devised many means for Hezbollah's monetization. Of which drugs were the biggest. After being the chief for 3 decades, Narsalla built a drug network with the help of his close friend Imad Mughanih. Before he was killed in 2008, Imad built a large drug network in South America.
Hezbollah's cartel stretches from Argentina to Europe Hezbollah's drug cartel grew stronger over time. Which is now active in many continents. The network stretches from Argentina, Brazil, Paraguay to Colombia and Venezuela. Over the past decade, the Hezbollah cartel has also strengthened its network in Mexico.
Hezbollah used to charge 15% commission for laundering black money Along with real estate, Hezbollah also has a thriving meat business, turning black money from drug-money laundering into white. In return they charge up to 15% commission. Earning approximately 252 crores per month. A share of this income was with Hezbollah's bank.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
