By DAYO ADESULU
The Israeli Defence Forces (IDF) and Israel Security Agency (ISA), also known as Shin Bet, say they have eliminated 16 key Hamas financial operatives involved in transferring and managing funds for the group’s military activities in the Gaza Strip.
According to the IDF, the financial network handled more than $1 billion in transfers during the war through a network of dozens of money changers operating in Türkiye and Gaza. The claim was contained in an IDF statement published on September 25, 2026.
The figures and descriptions of the operatives were provided by the Israeli military and security agency. The details, including the overall value of the transfers, could not be independently verified by all sources.
IDF Targets Hamas Financial Network
The IDF said its operations against Hamas’ financial infrastructure are aimed at weakening the organisation’s ability to finance military operations, rebuild infrastructure and replenish weapons.
The Israeli military said the 16 operatives targeted during the war were involved in various aspects of Hamas’ financial apparatus, including money transfers, currency exchange and the movement of funds into Gaza.
It said the network relied on dozens of money changers in both Türkiye and the Gaza Strip to facilitate the movement of funds.
The IDF further claimed that the disruption of the network had affected Hamas’ military activities during the conflict.
Key Hamas Financial Figures Named
Among those identified by the IDF was Ibrahim Abu Shamala, whom the military described as a financial officer within Hamas’ military wing.
Another was Mohammed Abu Alwan, who was eliminated in a strike in the Khan Younis area last Wednesday, according to the IDF. The military described Abu Alwan as responsible for funds connected to Hamas’ political wing.
An earlier IDF statement said Abu Alwan had worked in Hamas’ finance department for about a decade and was involved in budgeting across different parts of the organisation. The IDF said more than one billion Israeli shekels had been transferred under his direction during the war.
The Israeli military also named Khader Jamasi, Ihab Khraizem and Hussein Qadra among operatives involved in Hamas’ fund-transfer networks.
The IDF has previously said that Khader Jamasi headed a Hamas money-transfer network and that the network had moved tens of millions of dollars to the group’s military wing through money changers in Gaza.
How Hamas’ Financing Network Operated
According to the Israeli military, the financial structure involved money changers and intermediaries responsible for receiving, offsetting and transferring funds on behalf of Hamas.
The IDF said the money was used to finance Hamas operatives, develop weapons capabilities, restore infrastructure and support attacks against Israeli military personnel and civilians.
The military also said some of the transfers were designed to operate outside conventional banking channels.
Independent reporting has confirmed that the IDF has previously identified money-transfer networks involving Türkiye and Gaza, although the precise scale of the broader network and the total amount cited in the latest announcement remain Israeli military claims.
Israel Expands Pressure on Hamas’ Financial Infrastructure
The latest announcement reflects a broader Israeli strategy of targeting Hamas’ financial infrastructure alongside its military and leadership structures.
The IDF said it and the ISA are continuing operations aimed at preventing Hamas from restoring its military capabilities and rebuilding damaged infrastructure.
The Israeli military also issued a warning to individuals it says continue to participate in transferring money or financing Hamas’ military activities.
It said such individuals would remain targets of its operations.
The warning comes as Israel continues to frame Hamas’ financial infrastructure as an integral part of the organisation’s military capabilities.
Why This Matters
The battle over Hamas’ finances is significant because armed organisations require sustained funding to maintain personnel, procure weapons, rebuild infrastructure and operate networks.
For Israel, disrupting financial channels is therefore part of its wider effort to limit Hamas’ ability to regenerate its military capabilities.
However, the latest figures should be understood in context. The more-than-$1 billion figure is an Israeli military assessment, rather than an independently audited financial estimate. Similarly, the identities and roles attributed to the 16 people were provided by the IDF and ISA.
That distinction is important when reporting developments in an ongoing conflict, where information from the parties involved can be difficult to independently verify.
The Bigger Picture
The latest announcement follows several previous Israeli operations targeting individuals accused of managing Hamas’ financial networks.
In June, the IDF said Khader Jamasi and his deputy Muhammad Kharazin were eliminated in northern Gaza and accused them of managing transfers worth tens of millions of dollars to Hamas’ military wing.
The IDF has also previously reported operations against other money-transfer operatives, including individuals it said were responsible for moving hundreds of millions of shekels through networks involving couriers and money changers in Türkiye and Gaza.
The latest announcement suggests that Israel intends to continue treating the financial infrastructure supporting Hamas’ military activities as a central component of its campaign.
Conclusion
The IDF and ISA say they have eliminated 16 Hamas financial operatives during the war as part of an effort to disrupt a network that allegedly transferred more than $1 billion for Hamas’ military activities.
Israel says the network operated through dozens of money changers in Türkiye and Gaza and played a role in financing Hamas’ military operations and rebuilding its capabilities.
While the Israeli military’s claims provide the basis for the latest announcement, independent verification of the full network, its financial volume and the roles attributed to all 16 individuals remains limited.
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