Israel launched strikes on branches of Al-Qard Al-Hassan, a Hezbollah-linked financial association, across Lebanon late on October 20,

Local reports from Hezbollah also note that Israeli airforce hit near Beirut's airport marking an escalation in Israel's campaign against the Iran-backed group and the Lebanese state.

Iran’s Arabic language Al-Alam, citing Hezbollah sources, reported that at least 16 people had been killed in Israel’s strike on the financial centres, with another 59 people severely injured, according to initial reports from Lebanon’s Health Ministry.

Lebanon's National News Agency (NNA) reported 11 strikes on Beirut's southern suburbs, with additional strikes in the Bekaa Valley. The Israeli military had earlier warned residents to evacuate targeted areas.

Al-Qard Al-Hassan Association, the Targeted organisation by these IDF, is a financial organisation in Lebanon that operates as a form of Islamic microfinance, providing interest-free loans, a crucial institution that deals with Lebanon's Financial landscape, especially for the low-income class. Similar organisations operate in Iran, however, are not directly related to this financial group. 

Al-Qard Al-Hassan, which the US Treasury says Hezbollah uses to mask financial activities, operates 31 main branches across Lebanon, including 14 in Beirut and 10 in the south. The organisation claims to have provided 1.9,n loans, circulating about $4bn in the economy and serving 300,000 unique Lebanese customers.

In a defiant statement, Al-Qard Al-Hassan said: "The bankruptcy of our enemy and its obsolete bank of targets from the fighting capabilities led to the targeting of the social development institutions... An eye for an eye and a tooth for a tooth."

Israeli military spokesperson Avichay Adraee posted on X in Arabic: "You are located near Hezbollah facilities and interests that the Defence Forces will be operating against in the near future. For your safety and the safety of your family members, you must evacuate these buildings and those adjacent to them immediately."

The strikes near Beirut's airport raised concerns about the conflict's impact on civilian infrastructure, though commercial flights continued.

Critics argue the strikes target a crucial institution for Lebanon's low-income class, providing interest-free loans amid the country's financial crisis.