Skip to main content

What does Israel's killing of Hamas financier Subhi Ferwana mean?

The Israeli military said Subhi Ferwana transferred millions of dollars to Hamas.
Smoke rises above buildings during an Israeli strike on Rafah near the border with Egypt, in the southern Gaza Strip on December 1, 2023, after battles resumed between Israel and the Hamas movement. A temporary truce between Israel and Hamas expired on December 1, with the Israeli army saying combat operations had resumed, accusing Hamas of violating the operational pause. (Photo by SAID KHATIB / AFP) (Photo by SAID KHATIB/AFP via Getty Images)

The Israeli military said on Tuesday that it killed a prominent financier for Hamas as the war in Gaza rages on.

The Israel Defense Forces said Subhi Ferwana was killed by an Israeli airstrike in Rafah, southern Gaza. The IDF described Ferwana as a “prominent financier” who was involved in the transfer of tens of millions of dollars to Hamas along with his unnamed brother via their money exchange company, Hamsat. Ferwana transferred money to Hamas during the current war and the funds were used for military activities including payments for Hamas fighters, the IDF said in a press release.

There is a Facebook page for a financial services company based in southern Gaza’s Khan Yunis named Hamsat. A 2021 post from the page listed a man named Subhi Salah Hussein Ferwana as a representative of the company along with three other men with the same last name. The company has two branches in Khan Yunis and one in Rafah, per the post.

Hamas did not confirm Ferwana’s death. The Palestinian Authority’s WAFA news agency reported that Israeli strikes at dawn on Tuesday in Rafah and Khan Yunis killed at least 25 people. A Telegram channel for Hamas’ armed wing, the Izz ad-Din al-Qassam Brigades, reported on Tuesday that Israeli bombs hit homes in Rafah.

Access the Middle East news and analysis you can trust

Join our community of Middle East readers to experience all of Al-Monitor, including 24/7 news, analyses, memos, reports and newsletters.


Only $100 per year.