Mut’i Ma’ruf Balwi (Mut’i Balwi)

Mut’i Ma’ruf Balwi is a U.S.-designated businessman and financial facilitator for Hezbollah. Balwi, along with his brothers, own and direct Al-Fadel Exchange, a money exchange business that has facilitated financial transfers for the U.S.-designated Central Bank of Syria and Hezbollah. Given Balwi’s role in coordinating financial transfers for U.S.-designated entities and terror organizations, on May 30, 2023, the U.S. Department of the Treasury designated Balwi as a Specially Designated National (SDN).“Counter Narcotics Designations; Syria Designations,” U.S. Department of the Treasury, May 30, 2023, https://ofac.treasury.gov/recent-actions/20230530; “Treasury Sanctions Syrian Financial Facilitators Under the Caesar Syrian Civilian Protection Act,” U.S. Department of the Treasury, May 30, 2023, https://home.treasury.gov/news/press-releases/jy1508.

Since 2021, the Damascus-headquartered Al-Fadel Exchange, has facilitated millions of dollars in transfers to accounts at the Central Bank of Syria. Those funds were reportedly used to benefit the Syrian government as well as Syrian President Bashar al-Assad. Hezbollah has also used Balwi’s financial service to transfer money from other countries in the area to Syria. According to the U.S. Treasury Department, both Hezbollah and the Syrian government collected hard currency abroad and used Al-Fadel Exchange to transfer those funds to the Central Bank of Syria.“Treasury Sanctions Syrian Financial Facilitators Under the Caesar Syrian Civilian Protection Act,” U.S. Department of the Treasury, May 30, 2023, https://home.treasury.gov/news/press-releases/jy1508.

The Central Bank of Syria exclusively authorized the Balwi brothers to work on behalf of Hezbollah. Hezbollah is a key ally of the Syrian regime as well as Iran’s Islamic Revolutionary Guard Corps-Quds Force (IRGC-QF). In mid-2021, Al-Fadel Exchange coordinated payments from the Assad regime to Muhammad Qasim al-Bazzal, a U.S.-designated Hezbollah financial official. The payments were facilitated in exchange for shipments of Iranian oil.“Treasury Sanctions Syrian Financial Facilitators Under the Caesar Syrian Civilian Protection Act,” U.S. Department of the Treasury, May 30, 2023, https://home.treasury.gov/news/press-releases/jy1508.

On May 30, 2023, Balwi, his brothers Fadel and Muhammad, and Al-Fadel Exchange, were designated as SDNs for their roles in coordinating and managing the financial activities of Hezbollah and engaging in significant transactions with the Syrian government.“Treasury Sanctions Syrian Financial Facilitators Under the Caesar Syrian Civilian Protection Act,” U.S. Department of the Treasury, May 30, 2023, https://home.treasury.gov/news/press-releases/jy1508.

Also Known As

Extremist entity
Hezbollah
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Type(s) of Organization:
Militia, political party, social-service provider, terrorist, transnational, violent
Ideologies and Affiliations:
Iranian-sponsored, Islamist, jihadist, Khomeinist, Shiite
Position(s):
Financial facilitator

Hezbollah is an Iranian-sponsored, internationally sanctioned terrorist group with an anti-Israel and anti-U.S. agenda. Hezbollah is primarily based in Lebanon, but has carried out terrorist and criminal operations around the world.

  • Designations

United States

  • The U.S. Department of the Treasury designates Mut’i Ma’ruf Balwi as a Specially Designated National on May 30, 2023.“Treasury Sanctions Syrian Financial Facilitators Under the Caesar Syrian Civilian Protection Act,” U.S. Department of the Treasury, May 30, 2023, https://home.treasury.gov/news/press-releases/jy1508.

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On October 7, 2023, Hamas invaded southern Israel where, in the space of eight hours, hundreds of armed terrorists perpetrated mass crimes of brutality, rape, and torture against men, women and children. In the biggest attack on Jewish life in a single day since the Holocaust, 1,200 were killed, and 251 were taken hostage into Gaza—where 101 remain. One year on, antisemitic incidents have increased by record numbers. 

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