Al-Fadil Exchange and Remittance Company has refuted allegations of financing Hezbollah after receiving threats from Israeli sources. The company, based in Syria, emphasized its compliance with Syrian laws and oversight by the Central Bank of Syria.
Reports claimed that individuals linked to Hezbollah were transferring large sums of money under tight security from al-Fadil’s branch. The threats come in the wake of Israeli military operations against entities allegedly supporting Hezbollah.
US Sanctions and Allegations
Al-Fadil, known for operating outside foreign currency laws in Syria, was sanctioned by the US Treasury Department for supporting the Syrian regime, Hezbollah, and the Iranian Quds Force. The company’s owners, the Balawi brothers, were sanctioned for facilitating transfers to sanctioned entities.
Allegations state that al-Fadil facilitated transfers to the Central Bank of Syria, benefiting the Syrian government and Hezbollah. The company also allegedly facilitated payments for Iranian oil to Hezbollah officials under US sanctions.
This article was translated and edited by The Syrian Observer. The Syrian Observer has not verified the content of this story. Responsibility for the information and views set out in this article lies entirely with the author.