Israel Announces the Dismantling of a Financial Network that Transferred One Billion Dollars to Hamas

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The Israeli army announced on Friday that it has inflicted "significant damage" on Hamas's financing capabilities, after targeting a network it said was responsible for transferring money to the movement through dozens of money changers in the Gaza Strip and other countries.

The Israeli army and the Shin Bet security service stated that since the outbreak of the war, they have killed 16 individuals described as key figures in the currency exchange and money transfer operations for Hamas, noting that they were part of a financial network used to fund the military activities of the movement.

According to the Israeli narrative, the network managed financial transfers exceeding one billion dollars, through dozens of money changers in the Gaza Strip and other countries.

No immediate comment has been issued by Hamas regarding the Israeli announcement, and it has not been possible to independently verify all the details related to the network and the amount of money mentioned by the army.

Among the names that the Israeli army announced it targeted is Ibrahim Abu Shamala, who it said was a financial officer in the military wing of Hamas, along with Muhammad Abu Alwan, whom Israel said it killed last Wednesday, describing him as responsible for the funds of the political wing of the movement.

The Israeli army separately announced on Thursday the killing of Abu Alwan in an airstrike carried out in cooperation with the Shin Bet in the Khan Younis area in southern Gaza Strip, stating that he had worked in Hamas's financial system for about a decade and had financed various sectors within the movement.

However, the previous Israeli announcement spoke of transferring more than one billion shekels under Abu Alwan's supervision during the war, a figure specifically related to his activities, which differs from the one billion dollars that Israel claims the broader financial network dealt with.

The army also named several officials involved in money transfer networks, including Khader Al-Jamasi, Ihab Karizem, and Hussein Al-Qudra, stating that they managed operations for the receipt and delivery of funds on behalf of Hamas.

According to the Israeli army, the network extended to dozens of money exchangers in Gaza and countries outside it, while the funds were allegedly used to finance Hamas members, purchase and enhance combat capabilities, rehabilitate military infrastructure, and finance operations against Israeli forces.

The army and the Shin Bet stated that they continue their efforts to target Hamas's financial capabilities, exchange networks, and individuals involved in money transfer operations, efforts that the army said in its previous announcement aim to prevent the movement from rebuilding its military capabilities.

These actions come as part of an ongoing Israeli strategy to target Hamas's funding sources in parallel with military operations. The army had previously published data and documents during the war that it claimed revealed the channels and financial operations used by the movement within the Gaza Strip, although Hamas has repeatedly questioned Israel's narratives regarding several of its operations and their outcomes.

The Israeli army asserts that targeting officials and exchange networks has inflicted "significant damage" on Hamas's financial capabilities and military activities, while it did not provide an independent estimate of the amount of money still available to the movement or its current ability to operate alternative funding networks.