Al-Qard Al-Hassan Association issued a statement regarding a change of its name. 

It stated: "There have been discussions in some media outlets and on social media about changing the name of Al-Qard Al-Hassan Association. The association wishes to clarify the following:

1. The Al-Qard Al-Hassan Association remains fully operational under its current name at all branches across Lebanese territory, and continues its core work in managing the Al-Qard Al-Hassan process within the community, connecting charitable contributors with borrowers to meet their various social needs.

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2. The buying and selling of gold, whether in cash or installments, is carried out through licensed commercial companies in accordance with regulatory laws, using their authorized representatives.

Earlier reports indicated a move to withdraw the association’s current license and change its name, while preserving its vital social role, which has become integral to the lives of hundreds of thousands of Lebanese.

The association, which has long served as a financial-social channel alongside the banking system, now faces a delicate repositioning driven by external pressures and internal measures, including the Central Bank of Lebanon decision to prohibit activities related to it.

Practically, Al-Qard Al-Hassan has served as a financial refuge for thousands of Lebanese following the collapse of the banking sector, offering interest-free loans, gold collateral instead of bank accounts, and swift procedures devoid of bureaucratic complexities. This vital role in people’s livelihoods means that any discussion of closing the association or changing its function goes beyond legal framework and directly confronts social reality.

However, this margin has narrowed amid rising U.S. pressures, which have long viewed the institution as a financial channel outside the official system, within a cash-based economy that is difficult to regulate.

With increased international scrutiny and the Central Bank of Lebanon becoming more sensitive to any financial activity outside its supervision, signs of change have gradually begun to emerge.