Terrorist Financing Targeting Center Announces Follow-On Designations Targeting Hizballah’s Gold Exchange Network

Today, the member states of the Terrorist Financing Targeting Center (TFTC) announced a joint designation of two key components of Hizballah’s financial infrastructure: Jood SARL, a gold exchange company operating under the supervision of Al-Qard Al-Hassan (AQAH), and Mohamed Nayef Maged, a senior AQAH official and co-owner and managing partner of Jood SARL.

This action builds on the TFTC’s June 30 coordinated designation of Hizballah-linked financial institutions, front companies, and senior officials.  Today’s action further targets the mechanisms Hizballah uses to generate liquidity, preserve access to hard currency, and move funds in the face of sanctions pressure.  By acting jointly, TFTC members are underscoring their shared resolve to disrupt Hizballah’s access to financial channels, expose efforts to evade sanctions, and degrade the group’s ability to finance terrorist activity across the region.

This marks the tenth TFTC designation action since the center was created in May 2017 under the leadership of the United States and the Kingdom of Saudi Arabia.

JOOD SARL

Jood SARL (Jood) is a gold exchange company which operates under the supervision of AQAH and converts Hizballah’s gold reserves into usable funds that sustain the terrorist group’s reconstitution.  Senior AQAH officials established a chain of companies to trade gold in Lebanon and potentially overseas.  Hizballah officials pushed for AQAH to establish these companies quickly to mitigate the liquidity pressures on the company throughout 2025.

To evade sanctions, AQAH officials established Lebanese government-licensed Jood, overseen by Samer Hasan Fawaz, who was designated by the TFTC in June.  AQAH has opened, or planned to open, Jood branches in areas where Hizballah has an established presence, including Beirut, the Bek’a valley, and Nabatiyeh.  AQAH supervises Jood’s activities, and most Jood branches are located in or near existing AQAH branches.  The establishment of Jood was another in a series of schemes AQAH has used to obfuscate its financial activities.

Jood was designated by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on February 10, 2026, pursuant to Executive Order (E.O.) 13224, as amended.

MOHAMED NAYEF MAGED

Mohamed Nayef Maged (Maged) is a senior AQAH official. With Ali Karnib, who was designated by TFTC in June, he is a co-owner and managing partner of Jood.

Maged was designated by OFAC February 10, 2026, pursuant to E.O. 13224, as amended, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, AQAH.