Israeli strikes target Hezbollah's al-Qard al-Hassan in Dahieh, Bekaa, South

Israeli airstrikes were targeting Beirut's southern suburbs on Sunday night, after the Israeli army warned that it would target Hezbollah's al-Qard al-Hassan financial institution in Haret Hreik, Shiyyah, Ghobeiri, Choueifat, Tahwitat al-Ghadir and Burj al-Barajneh.

The National News Agency reported 11 strikes on Beirut's southern suburbs, many of them targeting al-Qard al-Hassan. Other strikes hit the association in Lebanon's eastern Bekaa Valley and in the country's south, NNA added.

It also reported that a strike had landed near Beirut's airport, the main entry-point of humanitarian assistance to the country and a major evacuation hub for those fleeing the conflict.

AFP footage showed large plumes of smoke rising close to the facility.

“It’s a big deal,” said David Asher, an expert on illicit financing who has worked at the U.S. Defense and State Departments and is now a senior fellow at the Hudson Institute.

“AQAH is a cash-based organization. The cash will be trash” in the event of strikes, he said, adding that it has large accounts with big Lebanese banks.

Al-Qard al-Hassan in a statement called the decision to target it a sign of Israel’s “bankruptcy” and assured customers it had taken “measures” to ensure their funds were safe. A stream of people left the areas surrounding its branches in Beirut.

In one evacuation notice, for the Choueifat area south of Beirut, the Israeli military mislabeled one target, causing confusion and panic. The location was labeled as Grand Cinema ABC Verdun, a theater in an upscale shopping mall in central Beirut more than 10 kilometers (6 miles) away.

The registered nonprofit NGO is sanctioned by both the U.S. and Saudi Arabia and provides financial services but is also used by ordinary Lebanese.

Israel's announcement came a day after U.S. Defense Secretary Lloyd Austin called civilian casualties in Lebanon "far too high" in the Israel-Hezbollah war, and urged Israel to scale back some strikes, especially in and around Beirut.

The strikes also came after Israel said it had hit dozens of targets during air raids on Lebanon earlier Sunday, as Hezbollah claimed numerous rocket strikes over the border and clashes with Israeli ground troops.