The Terrorist Financing Targeting Center (TTFC), a joint US and Gulf initiative, has sanctioned parts of Hezbollah’s financial infrastructure including 16 individuals and five entities, AlJazeera reports.

The US Department of Treasury said the targets include Al-Qard Al-Hassan, Bayt al-Mal as well as their senior leaders.

Al-Qard Al-Hassan is a quasi-banking institution that offers interest-free loans to people and is one of the many charity organisations run by Hezbollah, including schools, hospitals and low-price grocery stores.