US and Gulf states sanction entities accused of financial links to Hezbollah

US and Gulf states sanction entities accused of financial links to Hezbollah The US Department of the Treasury has announced joint sanctions by the Terrorist Financing Targeting Center against five entities and 16 individuals it claims are linked to Hezbollah's financial network. The TFTC is a multilateral body co-chaired by the United States and Saudi Arabia and includes member states of the Gulf Cooperation Council. The coordinated measures target the Al-Qard al-Hasan Association, translated as "the benevolent loan association", which the Treasury alleges presents itself as a non-governmental organisation while providing financial services similar to an unlicensed bank. The sanctions also target Bayt al-Mal, which US officials describe as Hezbollah's unofficial treasury and investment arm.