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Pakistan calls for global efforts to prevent terrorists' financing

United Nations, Thu, 22 Nov 2012 ANI

United Nations, Nov. 22 (ANI): Pakistan has stressed the importance of global efforts to cut off financing terrorists, saying that more effort was required to combat militancy in the country.

Masood Khan, the permanent representative of Pakistan to the UN, while speaking during a discussion in a meeting of the Security Counci's Counter-Terrorism Committee (CTC), said Pakistan was fully committed to countering terrorism financing, reports The Dawn.

Khan added that Pakistan, which is a party to the UN Convention for Suppression of the Financing of Terrorism, had enacted a landmark anti-money laundering law. The Financial Intelligence Unit of the State Bank of Pakistan was active in monitoring suspicious financial transactions, and hundreds of bank accounts totaling Rs 751 million had been frozen, he further said.

The meeting, held at UN Headquarters in New York, was designed to assess current trends and challenges in countering terrorist financing and the need for a global approach.

The resolution called for all countries to criminalize terrorism, to deny terrorists access to financial resources, and to prevent terrorists from crossing borders, among other measures.

"Today, banks are more conscious of customer due diligence. Security agencies are more efficient in monitoring terrorists' financial transactions. There is no room for complacency but these few successes are a matter of satisfaction for the international community and lay a sound foundation for more work to suppress financing of terrorism," Khan said. (ANI)

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