Financing Terrorism: “No money for terror” conference ends in Paris
The fight against the financing of terrorism was at the centre of an International conference on combating the financing of terrorismin Paris, France. Defence and security Ministers from five continents exchanged notes on the theme, “No money for terror“.
French President, Emmanuel Macron called for international cooperation to deprive jihadist movements from transferring funds and means to finance terrorism. The two day deliberations initiated by France ended this Thursday 26th April 2018, in Paris.
The French lead told participants that “We have to dry up terrorism at the root: it feeds on the trafficking of people, drugs or weapons… To be effective we must make the commitment to transparency…”
Commitments
Some 500 experts and 80 Ministers from 72 countries around the world took part in the high level meeting. Delegates from the UN, the G7, the G20, about twenty NGOs, the International Monetary Fund and the World Bank also took part in the discussions.
They intend to share their experiences in order to develop “best practices” to be globalized.
The best practices will however be adapted to suit the specific realities of the continent, region or country facing terrorism.
They are committed to information sharing, the fight against the anonymity of transactions, the identification of sources of financing.
They are also commited to anticipating on diversions of new financial instruments, the collective commitment towards vulnerable or failing countries.
The 72 countries that are signatories of a joint declaration that sanctioned the deliberations are scheduled to meet again in Australia in 2019.
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