Israeli airstrikes targeted buildings associated with the Hezbollah-run banking institution, Al-Qard Al-Hassan, in the southern suburbs of Beirut, south Lebanon, and the Bekaa Valley early on October 21, 2024. Witnesses reported at least 10 strikes in Beirut’s southern suburbs, leading to one building’s complete collapse in the Chiyah neighborhood, sending plumes of fire into the air. Nearby, another building close to Lebanon’s only commercial airport was also hit, with video footage capturing a significant smoke plume as a plane remained on the runway.

“They targeted empty buildings in residential areas, causing destruction to neighboring structures. These were not military sites or weapons caches,” stated Ma’an Khalil, the mayor of Ghobeiry municipality, reflecting on the bombings.

Shortly after the strikes, US envoy Amos Hochstein arrived in Beirut, where he engaged in discussions with Lebanon’s parliamentary speaker, Nabih Berri, and caretaker prime minister, Najib Mikati, focusing on approaches to achieving a ceasefire.

In parallel, US Secretary of State Antony Blinken was preparing for a four-day journey to Israel and several Middle Eastern nations, aiming to renew efforts for a ceasefire regarding the ongoing conflict in Gaza and the recent Hezbollah-Israel clashes. This journey marked his 11th trip to the region since the outbreak of war in Gaza, sparked by the Hamas attack on October 7, 2023. “Throughout the region, Secretary Blinken will emphasize the need to end the war in Gaza, secure the release of all hostages, and alleviate the suffering of the Palestinian people,” said State Department spokesperson Matthew Miller. Blinken will also address potential improvements in humanitarian aid access to Gaza, which could lead to reductions in arms supplies to Israel if aid continues to be obstructed.

On the same day, Israeli forces intensified their operations in northern Gaza, reportedly besieging hospitals and shelters for the displaced, according to residents and medical personnel. Prior to the bombings in Lebanon, Israel had issued multiple warnings through social media platform X, specifying buildings associated with Al-Qard Al-Hassan and advising people to evacuate at least 500 meters from those sites. As the threat of airstrikes loomed, local streets quickly became congested with traffic as residents tried to escape.

Al-Qard Al-Hassan operates with numerous branches across Lebanon, including 15 in greater Beirut. The strikes were part of Israel’s broader campaign to dismantle Hezbollah’s financial systems, with the Israeli military alleging that Al-Qard Al-Hassan funds Hezbollah’s terrorist activities, including arms procurement and storage.

This escalation marked a significant shift in Israel’s targeting strategy, expanding beyond Hezbollah’s military operations to include its civilian financial institutions. Al-Qard Al-Hassan, initially founded as a charitable organization in the early 1980s, gained traction during Lebanon’s 2019 financial crisis, when many commercial banks froze accounts and halted loans. A substantial number of Lebanese, mainly Shia Muslims, relied on Al-Qard Al-Hassan, often exchanging family assets such as gold for loans.

Lina Khatib, director of the SOAS Middle East Institute, noted that while Al-Qard Al-Hassan isn’t Hezbollah’s primary financial management tool, its potential destruction would significantly impact the group. “If the gold is lost, Hezbollah’s constituents will expect compensation for their losses. For now, trust in Hezbollah remains high despite its severe setbacks,” Khatib explained.

The airstrikes also resulted in at least 11 fatalities, including a child, in the Bekaa Valley and southern Lebanon as Israeli aircraft continued to bombard extensive areas of the country. In a separate incident in the upscale Mazzeh neighborhood of Damascus, Syrian media reported an explosion from a car, suspected to be a missile strike, although the target remains unidentified.

Hezbollah, in response, announced it had launched rockets at Israeli forces in Al-Malakiyah and Markaba, with intense clashes reported to have persisted from Sunday into Monday morning, amid ongoing Israeli incursions into southern Lebanon. Israel has stated its objective is to degrade Hezbollah’s infrastructure and capabilities along the border, although the extent of their success remains unclear as the border areas are largely depopulated and media access remains restricted.

During a press briefing, Hochstein emphasized that implementing UN Security Council Resolution 1701 is essential for achieving a ceasefire in Lebanon, rebuffing calls for amendments to the agreement. Resolution 1701 concluded the 2006 Israel-Hezbollah war and established the framework governing security dynamics along the Lebanese-Israeli border, stipulating that Hezbollah and armed militias should not operate beyond the Litani River, approximately 18 miles north of the border, and that Israeli forces must withdraw from Lebanon.

Hochstein remarked, “The failure to implement Resolution 1701 is the primary reason for the ongoing conflict,” following discussions with Berri, who represents Hezbollah. This was Hochstein’s first visit to Lebanon since the initiation of Israel’s Operation Northern Arrows on September 23.

In recent months, Lebanese officials have expressed a willingness to adhere to the resolution, omitting direct mention of Hezbollah’s presence south of the Litani River. Although Hezbollah has traditionally resisted pressure to withdraw from the border area, reports suggest that unprecedented losses may be altering its stance as it confronts the need for a ceasefire. The group has suffered significant casualties, including high-ranking military leaders and its former secretary general, Hassan Nasrallah, as a result of Israeli strikes.

Additionally, according to Axios, Israel provided its conditions for a ceasefire to Washington, proposing amendments to Resolution 1701 that would allow Israel to conduct active enforcement to prevent the rebuilding of Hezbollah’s military capacity in southern Lebanon, including demands for freedom of operation for the Israeli air force in Lebanese airspace.

Hochstein stated, “I will not engage in discussions about amending Resolution 1701, but rather the potential for its implementation.” It is anticipated that Lebanese officials will oppose these new demands, perceiving them as infringements on the country’s sovereignty.