Hussein a-Shami was born in Nabatieh (south Lebanon) in 1952 (there are discrepancies regarding the year of his birth, according to some indications, he may have been born in 1948, 1954, or 1960). A-Shami has a master’s degree and is a father of five. He joined Hezbollah in 1983. Al-Shami is currently one of the central figures in Hezbollah’s financial field and, in our understanding, is involved in the activities of all of Hezbollah’s important financial institutions, such as the Al-Qard al-Hasan Association and Bayt al-Mal.
In the early 1980s, al-Shami set up a tiny credit bureau in his apartment in Beirut. In 1985, he moved his credit agency to the Haret Hreik neighborhood. In 1987 the agency was registered with the Lebanese Ministry of the Interior as the Al-Qard Al-Hasan Association (“The Good Loan”).
Al-Shami and al-Qard al-Hasan are mentioned on the following international sanctions lists based on their affiliation with Hezbollah:
- OFAC – Specially Designated Global Terrorist List (commencing July 2007)
- South Korea Financial Services Commission (FSC) Restricted List (commencing December 2008)
- South Korea Ministry of Strategy and Finance (MOSF) List (commencing February 2009)
The al-Qard al-Hasan Association provides those in need with loans under Islamic law with favorable terms, without interest, and in exchange for low securities. Over the years, the Association has become a money-laundering wing for Hezbollah, opening various accounts in Lebanese banks, especially Jammal Trust Bank (subject to sanctions since 2019). The Association has been subject to sanctions since April 2016. The number of Loanees is currently estimated at not less than 200,000. The volume of loans is estimated at half a billion dollars a year. The Association essentially acts as a bank for all intents and purposes.
Hussein al-Shami also co-founded the “Sacred Foundation,” supporting Hezbollah martyrs’ families as part of Hezbollah’s Martyrs Foundation.
The Martyrs Foundation’s purpose is to support Hezbollah martyr’s families and commemorate their memory. The organization was established in 1989. The Martyrs Foundation is responsible for the care of the families in all aspects: material and emotional. The basic benefits for these families include a monthly stipend, housing, health, education, and more.
Hajj Hussein al-Shami currently manages Hezbollah’s Bayt al-Mal, and the “Resistance Support Authority” operating under it. Also, under Bayt al-Mal, another entity called “Yousser for Finance and Investment” was established in 1990 to support “entrepreneurs and investors.” Bayt al-Mal is not a public body but acts as an investment division and a loaning bank. Bayt al-Mal, in effect, serves as Hezbollah’s unofficial “treasury,” holds and invests in assets, and in practice serves as a financial intermediary between Hezbollah and formal banks.
Unlike Bayt al-Mal, the “Islamic Resistance Support Association” operates publicly. It serves as Hezbollah’s fundraising wing (complementing Iran’s direct budget). The authority was founded in 1989 and is under sanctions. The Association offers a variety of methods to donate to Hezbollah: monthly donations, donations to the families of martyrs, direct donations to military operatives, direct donations for weapons, etc.
For instance, on July 21, the “Islamic Resistance Support Association” launched a fundraising campaign aiming to collect equipment and funds for the organization’s combatants in preparation to “protect its natural resources,” all this against the background of the negotiations on the maritime border with Israel and the positioning of the “Karish” gas rig and the intention to start producing gas from the reservoir.
The apple doesn’t fall far from the tree. Hussein’s son, Muhammad, lives in the Haret Hreik neighborhood in Beirut and is also affiliated with Hezbollah.
Muhammad a-Shami, like his father, has an education in finance. He acquired his education from the academic institution Arts, Sciences and Technology University in Lebanon (AUL) Beirut and from the AUCE (American University of Culture & Education) academic institution. Muhammad is married to Mariam Kobeissi, probably originally from France. She is a photographer and also photographs weddings. The two have at least one son or daughter.
