General:
The Israeli strikes against the Al-Qard al-Hassan bank branch network significantly damaged the physical and overt infrastructure of one of Hezbollah’s principal financial mechanisms but did not bring its activity to a halt. Al-Qard al-Hassan may be undergoing a process of adaptation: rather than rebuilding its branch network in southern Lebanon in its previous form, Al-Qard al-Hassan may have shifted to a reduced, centralized, and less exposed operating model: from overt branches to concealed service centers within the civilian environment.
New service centers appear to be operating at a low profile, possibly without prominent external identification, and are more deeply integrated into the civilian and commercial environment, apparently in order to make them more difficult to locate and strike. This is another manifestation of Hezbollah’s mechanisms’ ability to adapt to military pressure and of their use of the civilian environment as part of their survival mechanism.
In this document, we attempt to examine the changes that occurred in the deployment of Al-Qard al-Hassan bank branches in southern Lebanon following the waves of Israeli strikes in October–November 2024 and March 2026.
On the eve of the strikes in October 2024, the Al-Qard al-Hassan bank branch network comprised at least 31 identified branches throughout Lebanon. During the first wave of strikes in 2024, according to local reports, 28 strikes were carried out against at least 25 branches or properties identified with the bank. By May 2025, the resumption of activity at approximately 19 branches had been reported; however, in March 2026, dozens of the bank’s properties were struck again, including branches that had been rebuilt after the first ceasefire took effect on November 27, 2024 (see Appendix—Chronological Review and Mapping of the Damage, Reconstruction, and Resumption of Activity at Al-Qard al-Hassan Branches).
As of August 2026, there appears to be a transition from a broad, overt branch network to a more limited and centralized model of service branches, which are effectively central hubs serving customers from several branches that have ceased operating.
It should be noted that, as of this writing, we have not located any public, official announcement providing an update on the bank’s new operating model, and specifically on the service branches that function as hubs.
We identified two hubs in southern Lebanon (which we located via an informal notice announcing their operation, published on Telegram during the past month without specifying a name or precise address—see below):
In Maaroub, for customers of four branches; and in Tyre, for customers of three branches.
Using visual intelligence and open sources, we narrowed down the estimated areas in which the Maaroub and Tyre hubs may be operating but were unable to identify precise coordinates with certainty.
We also identified information about two branch hubs in Haret Hreik in Beirut (one of them on Al-Arid Street), which provide service to customers affiliated with approximately 17 former branches throughout Beirut that were struck and apparently have not yet resumed operations.
Regarding the Bekaa region, the current status of the branches is unknown to us, but we assess that branch hubs have reopened in a format identical to the centralization of activity implemented in Beirut and southern Lebanon.
It should be noted that in July 2026, it was reported that the reopening of an Al-Qard al-Hassan branch that had been struck, in the “Dunia Cinema Center” building on Al-Hasbeh al-Qadimeh Street in the city of Tyre, was canceled following opposition from residents and business owners in and around the building.
The Bank’s Service Centers in Southern Lebanon:
On August 8, 2026, an image was published on Telegram showing a notice affixed to the glass window of an unidentified business.
The notice provided the following update regarding the opening of new branches in southern Lebanon:
- On August 5, 2026, the Maaroub branch (معروب) will open near Al-Nakhil Supermarket (سوبر ماركت النخيل) and will receive customers from the villages of Al-Chahabiyeh (الشهابية), Ain al-Mazrab (عين المزراب), Bint Jbeil (بنت جبيل), and Maaroub (معروب).
- On August 7, 2026, a branch will open in the city of Tyre (صور), on Al-Jumayzat Street (شارع الجميزات), next to “Al-Hoops” (الهوبس) and near Al-Ghadir Restaurant (مطعم الغدير) – a branch that will receive customers from the Al-Buss neighborhood in Tyre (صور البص), the city of Tyre (صور المدينة), and Qana (قانا).
Attention should be drawn to the fact that the name “Al-Qard al-Hassan” is not mentioned in the notice itself. In the Telegram post, the explanation accompanying the photograph of the notice stated that it referred to Al-Qard al-Hassan bank branches.
The Estimated Area in Which the Al-Qard al-Hassan Service Center Operates in Maaroub, Southern Lebanon:
The area shown in the visual intelligence aid was located on the basis of information collection that relied on the lead provided by the above notice, according to which customers of the Al-Chahabiyeh, Ain al-Mazrab, Bint Jbeil, and Maaroub branches are served at a service center in Maaroub, near Al-Nakhil Supermarket (سوبر ماركت النخيل). The area is located along Maaroub’s main street in southern Lebanon.
Maaroub’s main street is the community’s principal transportation and commercial artery. Residential and commercial buildings, shops, restaurants, and businesses are scattered along it, alongside orchards and agricultural areas. Al-Nakhil Supermarket, mentioned in the notice, serves as the principal landmark for narrowing the search area. Other businesses registered on Google are located nearby, including Franji Restaurant and Alboustan Pharmacy, which serve as additional landmarks for identifying the area.
The notice does not state the name of the building in which the service center operates, which side of the street it is on, or its precise distance from Al-Nakhil Supermarket. Therefore, the area outlined in red on the bellow visual aid indicates only a potential location and does not constitute definitive identification of the specific building housing the Al-Qard al-Hassan branch.
The buildings housing civilian businesses registered on Google are marked in green.
The Estimated Area in Which the Al-Qard al-Hassan Service Center Operates in Tyre, Southern Lebanon:
According to the above notice, customers of the Tyre branches – Al-Buss, the city of Tyre, and Qana – are served at a service center in the city of Tyre, on Al-Jumayzat Street (شارع الجميزات), near “Hoops” Club (الهوبس) and Al-Ghadir Restaurant (مطعم الغدير). The area is located in the commercial zone east of central Tyre.
Al-Jumayzat Street is also an urban transportation and commercial artery. Restaurants, cafés, shops, a shopping center, sports facilities, and other businesses are located along it, alongside orchards and open areas. “Hoops” Club and Al-Ghadir Restaurant, mentioned in the notice, serve as the principal landmarks for narrowing the search area. Other businesses registered on Google are located nearby, including Spinneys Supermarket, Jana Café, a shopping center, and Shoughari Rent a Car, which serve as additional landmarks for identifying the area.
The notice does not state the name of the building in which the service center operates, which side of the street it is on, or its precise distance from “Hoops” Club and Al-Ghadir Restaurant. Therefore, the area outlined in red in the aid below represents only a potential area and not the certain identification of a specific building.
The buildings housing civilian businesses registered on Google are marked in green.
Appendix – Chronological Review and Mapping of the Damage, Reconstruction, and Resumption of Activity at Al-Qard al-Hassan Bank Branches:
The chronological review and historical mapping of Al-Qard al-Hassan branches were required as a preliminary stage in mapping the current situation, because it was impossible to understand the present deployment of the service centers without identifying the branch network that operated before the strikes and tracking the changes that occurred in it.
Examining the dates of the strikes, the locations of the branches that were damaged, and the extent of the damage caused to them makes it possible to distinguish between a branch that ceased operating, a branch that was rebuilt or relocated, and a new service branch that centralizes service for customers of several former branches.
This distinction is particularly essential because Al-Qard al-Hassan bank announcements continue to use the original branch names for customer affiliation, even when service is actually provided at a different physical center. Accordingly, the historical mapping provides the database required for comparison.
On this basis, it is possible to assess more accurately the number of physical centers currently operating, their deployment, and the change that occurred in the organization’s operating structure following the strikes.
List of Branches Before the October 2024 Round of Strikes:
Following the IDF evacuation warnings on October 20, 2024, for areas in which Al-Qard al-Hassan bank branches were to be struck, Lebanon24 published a list of 31 Al-Qard al-Hassan bank branches throughout Lebanon:
Beirut:
- Bir al Abed (main branch)
- Haret Hreik
- Al Nuweiri
- Hay al Sollom
- Borj al Brajneh
- Tahwitat el Ghadir
- Al Chiyah
- Al Ruwais
- Zeqaq al Blat
- Al Choueifat
- Bir al Abed
- Al Msharafieh
- Al Mreijeh
- Hadath
- Airport Road
Southern Lebanon:
- Tyre, El Buss
- Nabatieh, Al Midan
- Sidon
- Aaqbiyeh
- Bint Jbeil
- Chehabiyeh
- Houmine el Faouqa
- Kfar Kila, Tal al Nahas
- Tyre, city
- Nabatieh, Bir el Qandil
Beqaa:
- Baalbek, city
- Bednayel
- Al Hermel
- Machghara
- Baalbek, Ras el Ain
- Ali el Nahri
Concurrently, other sources, such as “Ya Sour” (يا صور) and Lebanon Debate, published a different list of 31 Al-Qard al-Hassan bank branches in Lebanon.
These lists included several other/additional branch names that did not appear in the Lebanon24 list, as follows:
Beirut:
- Al Jamous
- Laylaki
- Khalde
Southern Lebanon:
- Sarafand
- Aadloun
- Ansariyeh
- Haret Saida
- Ghaziyeh
- Abra
- Majdelyoun
Beqaa:
- Al Ain
- Tamnine
- Labweh
- Riyaq
IDF Strikes Against Al-Qard al-Hassan Bank Branches in October–November 2024:
During the wave of strikes that began on the night of October 20, 2024, and continued until November 26, 2024, approximately 20 locations at which Al-Qard al-Hassan bank branches were struck throughout Lebanon were reported.
During the wave of strikes of October 20-21, 2024, the following branches were struck:
Beirut:
- Al Chiyah
- Hay al Sollom
- Borj al Brajneh \ Ain al Sekkeh
- Airport Road
- Haret Hreik
- Ghobeiry
- Choueifat
- Hadath
Southern Lebanon:
- Nabatieh, Al Midan
- Houmine el Faouqa
- Aaqbiyeh
- Chehabiyeh
- Tyre, city
Beqaa:
- Sohmor
- Ali el Nahri
- Al Hermel
- Machghara
- Baalbek, Hay Anaam
- Hazin
- Bednayel
- Riyaq
During the wave of strikes on November 26, 2024, the following branches were struck:
Beirut:
- Al Nuweiri – Barbour
Southern Lebanon:
- Tyre, city
- Sidon, Riad el Solh, Banks Building
Beqaa:
- Bednayel
- Machghara
That is, in total: according to local reports, 28 strikes were carried out against Al-Qard al-Hassan bank branches during the October-November 2024 wave (including repeat strikes against three branches: Bednayel, Machghara, and Tyre), and at least 25 branches or buildings identified with Al-Qard al-Hassan bank were struck in total.
Reopening Beginning December 2, 2024:
On December 1, 2024, several identical reports were published by various sources regarding the reopening of 16 Al-Qard al-Hassan bank branches throughout Lebanon. On February 22, Lebanon24 reported the opening of the Saf al Hawa (صف الهوا) branch in Bint Jbeil, and on April 2, 2025, Al-Nahar reported that a branch in Sidon was operating. In addition, according to a report by the Alma Center (which was also cited by Lebanon24), the Zeqaq al Blat (زقاق البلاط) branch in Beirut also opened on May 26, 2025. These are the branches that resumed operations beginning December 2, 2024:
Beirut:
- Al Nuweiri
- Al Msharafieh
- Bir al Abed
- Al Mreijeh
- Al Chouaifat
- Saint Therese
- Haret Hreik, Al Arid
- Zeqaq al Blat
Southern Lebanon:
- Nabatieh, Bir el Qandil
- Tyre, El Buss
- Bint Jbeil, Saf al Hawa
- Sidon
Beqaa:
- Ali el Nahri
- Baalbek, Ras el Ain
- Al Labweh
- Al Hermel
- Machghara
Mount Lebanon:
- Souq el Gharb
- Jbeil – Kfar sale
That is, in total: from the strikes on Al-Qard al-Hassan bank branches in October-November 2024 until May 2025, approximately 19 branches were reported to have resumed operations and to be operating throughout Lebanon and can be identified by name based on local reports.
However, in an Al-Manar report dated July 19, 2025, the director general of Al-Qard al-Hassan bank claimed that they had a total of 36 branches [that is, until October 2024] and that after the war [that is, since November 2024] they had expanded to 40 branches.
Renewal of Targeted Strikes Against Al-Qard al-Hassan Branches on March 9, 2026:
On March 2, 2026, following Operation “Lion’s Roar” the fighting in Lebanon resumed. On March 9, a warning was issued against the Al-Qard al-Hassan bank network and its branches, which were struck in two principal waves. According to an IDF Spokesperson’s announcement on March 10, 30 Al-Qard al-Hassan branches were struck within one week.
Beirut:
- Al Safir, near St. Michael’s Church and the army checkpoint
- Haret Hreik
- Borj al Barajneh, Ain al Sekkeh
- Bir al Abed, Sheikh Ragheb Street
- Hadi Nasrallah Highway, opposite Al Wafaa Bakery
- Al Mreijeh, the square
- Airport Road
Southern Lebanon:
- Nabatieh city
- Bint Jbeil
- Toul
- Habbouch, Deir Habbouch – Nabatieh Road
- Deir el Zahrani
- Machghara
- Maaroub
- Tyre, a three-story building
- Tyre, another building, two kilometers from the previous one.
- Aqbiyeh
Beqaa:
- Ain Bourday
- Al Labweh
- Al Hermel
- Bednayel
- Houch el Ghanam
This is the number of centers that can be identified by name from local sources, but it is not necessarily the complete list.
On March 12, 2026, Al-Nahar reported that the Sidon branch on Riad el Solh was not struck but was closed for business.
On March 18, 2026, Al-Nashra reported that an apartment opposite the Al-Qard al-Hassan branch in the Zeqaq al Blat area was struck – with no confirmation that the branch was destroyed.
Sources:
Al-Jadeed (August 2026: No Name and No Address… Al-Qard al-Hassan Returns to the South)
https://twitter.com/ALJADEEDNEWS/status/2089062809820696640?s=20
Al-Jadeed (July 2026: Al-Qard al-Hassan in Tyre Stopped Before It Opened… Residents’ Objections Change the Course)
https://twitter.com/ALJADEEDNEWS/status/2081454509541495276?s=20
Sawt al-Farah (July 2026: Opening of a New Branch on Al-Hasbeh al-Qadimeh Street in Tyre Canceled)
https://www.sawtalfarah.com/?p=386895
Tebnine Channel on Telegram (Al-Qard al-Hassan Notice on the Opening of Branches in Southern Lebanon)
https://t.me/tebninenews/87584
Sawt al-Farah (August 2026: Reopening of Al-Ghadir Restaurant, Tyre)
https://www.sawtalfarah.com/?p=388565
Al-Ghadir Restaurant (Restaurant Website Homepage)
Lebanon24 (October 20, 2024: 31 Al-Qard al-Hassan Branches)
https://www.lebanon24.com/news/lebanon/1265610
Ya Sour (October 20, 2024: Al-Qard al-Hassan Branches)
Lebanon Debate (October 20, 2024: Al-Qard al-Hassan Branches)
https://www.lebanondebate.com/article/669906-article
Al-Modon (October 2024: Beirut)
https://www.almodon.com/politics/2024/10/21
Lebanon24 (October 2024: Al-Shiyah)
https://www.lebanon24.com/news/lebanon/1265786
Lebanon24 (October 2024: Hay al Sollom)
https://www.lebanon24.com/news/lebanon/1266213
Lebanon24 (October 2024: Borj al Barajneh)
https://www.lebanon24.com/news/lebanon/1265793
Beirut 24 (October 2024: Airport Road)
https://www.beirut24.org/2024/10/20
Lebanon24 (October 2024: Nabatieh, Al Midan)
https://www.lebanon24.com/news/lebanon/1265786
This is Lebanon (October 2024: Houmine al Faouqa)
https://www.thisislebanon.com/livenews/409212/
Lebanon24 (October 2024: Al Aqbiyeh)
https://www.lebanon24.com/news/lebanon/1265793
Beirut 24 (October 2024: Al Shahabiya)
https://www.beirut24.org/2024/10/21/
Lebanon24 (October 2024: Tyre, city)
https://www.lebanon24.com/news/lebanon/1265719
Lebanon24 (October 2024: Beqaa)
https://www.lebanon24.com/news/lebanon/12658293
Al-Nahar (October 2024: Machghara)
https://www.annahar.com/Lebanon/Society/162634
Lebanon24 (November 2024: Al Nuweiri – Barbour)
https://www.lebanon24.com/news/lebanon/1284237
Al-Nahar (November 2024: Tyre, city)
https://www.annahar.com/Lebanon/Politics/174797
Al-Nahar (November 2024: Sidon, Riad el Solh, Banks Building)
https://www.annahar.com/Lebanon/175012
Lebanon24 (November 2024: Bednayel)
https://www.lebanon24.com/news/breaking-news/1284228
Lebanon24 (November 2024: Machghara)
https://www.lebanon24.com/news/lebanon/1284237
Akhbar Beirut (December 2024: Opening of 16 Branches)
https://akhbarbeirut24.com/topnews/412793
Lebanon24 (February 2025: Bint Jbeil)
https://www.lebanon24.com/news/lebanon/1323678
Al-Nahar (April 2025: Sidon)
https://www.annahar.com/Lebanon/Politics/206350
Lebanon24 (May 2025: Beirut, Zeqaq al Blat)
https://www.lebanon24.com/news/lebanon/1366322
Al-Modon (July 2025: Al-Qard al-Hassan Director General Declares 40 Branches)
https://www.almodon.com/media/2025/07/20
Al-Jareeda (March 2026: Nabatieh, Bint Jbeil, Toul, Ain Bourday, Habboush, Al Labweh, Al Hermel, Bednayel, Houch el Ghanam)
https://al-jareeda.com/archives/804851
NNA (March 2026: Nabatieh)
https://www.nna-leb.gov.lb/ar/news/416740
NNA (March 2026: Toul)
https://www.nna-leb.gov.lb/ar/news/416743
NNA (March 2026: Deir Habboush)
https://www.nna-leb.gov.lb/ar/news/416744
NNA (March 2026: Machghara, Maaroub)
https://www.nna-leb.gov.lb/ar/news/416763
National Human Rights Commission in Lebanon (March 2026: Tyre, Three-Story Building)
https://nhrclb.org/archives/4825
Al-Jareeda (March 2026: Haret Hreik, Ain al Sekkeh – Borj al Barajneh, Al Safir, Hadi Nasrallah Street, Al-Mreijeh Square, Airport Road)
https://al-jareeda.com/archives/808723
Al-Nashra (March 2026: Al Aqbiyeh)
https://www.elnashra.com/news/show/1766465
Al-Nahar (March 2026: Closure of Sidon Branch)
https://www.annahar.com/lebanon/politics/286796
Al-Nashra (March 2026: Strike in the Zeqaq al Blat Area)
https://www.elnashra.com/news/show/1768570
