CBNNews.com - BEIRUT, Lebanon - Iran donated an estimated $600 million to Hezbollah, its Lebanese-based proxy, to bolster the terror group's bid for more power in the upcoming June elections.

According to Info-Prod Research Ltd., a group that monitors funding to terror organizations in the Middle East, Hezbollah has received an estimated $1 billion recently, including $300 million from Qatar and $100 million donated by wealthy Arabs in the Gulf area, solicited in a 2009 fundraising tour.

"It seems that the global financial crisis has been good for the Islamic terror organizations in terms of fund raising," Info-Prod research head Doron Peskin said.

"With the fall of Wall Street, investors in the Gulf were quick to withdraw their funds. Since local investment opportunities are limited, a lot of liquid wealth had accumulated there," he said.

"Groups like Hezbollah, al-Qaeda and Hamas are well aware of the opportunity at hand - and since 2008, they have stepped up their fundraising efforts, particularly during the Hajj [Islamic pilgrimmage to Mecca], after Eid al-Adha [Islam's version of the sacrifice of Isaac, which substitutes Ishamel for Isaac]," he said.

Source: YNet news