August 30, 2019
The United States on Thursday sanctioned Lebanon-based Jammal Trust Bank SAL and its subsidiaries, accusing it of facilitating Hezbollah’s financial activities.
The Treasury’s Office of Foreign Assets Control (OFAC) said “Jammal Trust has a longstanding relationship with a key Hezbollah financial entity and provides financial services to Hezbollah’s Executive Council and the Iran-based Martyrs Foundation.”
The foundation funnels money to the families of suicide bombers, said Under Secretary for Terrorism and Financial Intelligence Sigal Mandelker.
OFAC also designated Jammal Trust’s Lebanon-based subsidiaries Trust Insurance S.A.L., Trust Insurance Services S.A.L., and Trust Life Insurance Company S.A.L., for being owned or controlled by Jammal Trust.
Hezbollah MP Amin Sherri coordinates the party’s financial activity at Jammal Trust with the bank’s management, said the Treasury’s statement. OFAC designated Sherri last month for acting for or on behalf of Hezbollah.
Separately, the Treasury sanctioned four individuals for moving money from Iran’s Revolutionary Guard Corps to Hamas movement through Hezbollah.