Saudi Arabia, represented by the Presidency of State Security, has designated the Lebanese-based Al-Qard Al-Hasan Association a terrorist entity. All assets of the association in the Kingdom will be frozen. The presidency attributed the association's terrorist listing to its activities supportive to the terrorist organization Hezbollah.
The association has been found working to manage funds for Hezbollah and its financing, including supporting military purposes, the Saudi Press Agency reported quoting a Presidency statement.
"Saudi Arabia will continue to work to combat the terrorist activities of Hezbollah and to coordinate with international friends so as to target the sources of financial support for the organization, whether they are individuals or entities, to contain its terrorist and criminal activities around the world," the Presidency said.
All assets belonging to Al-Qard Al-Hasan Association must be frozen inside the Kingdom, and it is prohibited to carry out any direct or indirect dealings with or for the benefit of the association, by financial institutions, professions and designated non-financial businesses and all legal and natural persons.
Legal measures will be taken against all those who are found to have relationship with the above association, or those in charge of it.
These measures are based on the Law on Combating Terrorism Crimes and its Financing, and the executive mechanisms of Security Council resolutions related to combating terrorism and its financing, including the Security Council Resolution No. 1373, which targets those who provide support to terrorists or terrorist acts, the Presidency added.