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Rally for Hizbullah in Tehran Photo: AFP
Rally for Hizbullah in Tehran Photo: AFP
 
Iranian President Mahmoud Ahmadinejad Photo: Reuters
Iranian President Mahmoud Ahmadinejad Photo: Reuters
 
 

Report: Hizbullah now $1B richer

Business research facility asserts that majority of donations from Tehran in bid to shore-up terror organization ahead of elections in Lebanon. But funds also pouring in from other sources – in spite of economic crisis

Roee Nahmias
Published: 03.04.09, 00:37 / Israel News

Hizbullah's treasury has recently received no less than USD 1 billion. The bulk of the sum, some USD 600 million, was transferred to the Lebanese terror organization from Iran in a bid to strengthen the former's standing prior to the upcoming general elections in Lebanon this June.

 

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The claim was made Info-Prod Research (Middle East) Ltd. The institute, which deals in economic reviews regarding the Middle East and also monitors terror funding, released a report Tuesday evening detailing the massive increase to Hizbullah's finances.

 

According to its sources, Hizbullah is adamant to succeed in the coming elections and expand its power in the Lebanese parliament. All the better for the group if this were to come at the expense of their rivals, the anti-Syrian camp.

 

The report authored by IPR, which was founded by industry captain Muzi Wertheim and economics lecturer Dr. Gil Feiler, establishes that highest single contribution was made by Iran to Hizbullah.

 

Part of the delivery was made via high-ranking Iranian officials, and the details regarding the transfer were kept classified until recently as the Iranian election scene heats up and the opposition revealed the massive transfer of funds to Hizbullah.

 

The report says that after the Second Lebanon War, Iran sent Hizbullah USD 500 million in urgent monetary aid. News of the transfer drew the ire and criticism of Iranian moderates, who accused the regime of rashly giving away the money while ignoring the economic plight of Iranian citizens.

 

'Terror groups thriving during financial crisis'

But Iran is not alone. According to the Info-Prod report, Hizbullah received another bulk sum from a second Gulf nation – apparently Qatar.

 

Unconfirmed reports in the Gulf say that in recent weeks Qatar bestowed USD 300 million on Hizbullah. Qatar, it should be noted, is actively trying to buy influence in the Arab world using its gas revenue – putting it in direct confrontation with Saudi Arabia, which openly backs the anti-Hizbullah coalition.

 

An additional USD 100 million have been brought in since early 2009 following a fundraising tour conducted by Hizbullah envoys in the Gulf area, aiming mostly at private tycoons.

 

"It seems that the global financial crisis has been good for the Islamic terror organizations in terms of fund raising," explains Doron Peskin, head of research at Info-Prod.

 

"With the fall of Wall Street, investors in the Gulf were quick to withdraw their funds. Since local investment opportunities are limited, a lot of liquid wealth had accumulated there.

 

"Groups like Hizbullah, Al-Qaeda and Hamas are well aware of the opportunity at hand – and since 2008 they have stepped-up their fundraising efforts, particularly during the Hajj, after Eid Al-Adha."

 

The report cites Lebanese sources as confirming that Hizbullah is still funding the rehabilitation of southern Lebanon following the 2006 wars.

 

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