Photo Credit: IDF Spokesperson's Unit
Hamas financial Subhi Ferwana, eliminated in the heart of Rafah during a targeted operation in Gaza by the IDF and Shin Bet. Dec. 19, 2023

Israel Defense Forces together with Shin Bet intelligence agents have eliminated a major Hamas financier who was involved in transferring tens of millions of dollars to the terror organization’s military wing in Gaza.

Subhi Ferwana was eliminated in a targeted operation that took place in the heart of Rafah by an Israeli Air Force fighter jet directed by IDF and Shin Bet intelligence.


Ferwana and his brother facilitated the transfer of tens of millions of dollars to Hamas and its military Al-Qassam Brigades over the past several years through their money exchange company, “Hamsat”.

The Al Qassam military wing of Hamas depends on funds transferred to them via financiers; its capabilities are significantly diminished without them.

Ferwana was one of the most prominent Hamas financiers and was able to transfer funds to the Al Qassam Brigades that were required for war.

Ferwana transferred the funds to the terror group’s military wing during the October 7th war launched by Hamas against Israel, knowing the money would be vital for continuing the wing’s ability to fight.

The funds were used, among other things, for intensification of military forces, payment of terrorists’ salaries during the war, and to finance Hamas’ war activities.

The terrorist organization uses financiers in order to receive the funds that are transferred to Hamas from Iran and various fundraising sources abroad. The money changers carry out the transfers using the netting and money laundering method, while evading the international financial system.

“The IDF, Shin Bet and other security forces will continue their efforts to dismantle Hamas’ funding lifeline,” Israeli government officials said.


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Hana Levi Julian is a Middle East news analyst with a degree in Mass Communication and Journalism from Southern Connecticut State University. A past columnist with The Jewish Press and senior editor at Arutz 7, Ms. Julian has written for, and other media outlets, in addition to her years working in broadcast journalism.