RIYADH: Saudi Arabia has classified Hezbollah’s financial arm Al-Qard Al-Hassan association as a terrorist entity.
“The association works to manage funds for the terrorist organization (Hezbollah) and its financing, including support for military purposes,” the Presidency of State Security said.
The Kingdom said it would continue to combat Hezbollah’s terrorist activities, and to coordinate with other countries to target the organization’s sources of financial support, whether they are individuals or entities, “to curb its terrorist and criminal activities around the world.”
The action against Al-Qard Al-Hassan was taken based on the Law on Combating Terrorism Crimes and its Financing, the statement said. All assets belonging to Lebanon-based bank inside the Kingdom will be frozen.
The action prohibits direct or indirect dealings with, or for the benefit of the association, and legal measures will be taken against anyone with a proven relationship with the association.
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