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National News
PM to deliver opening address at 'No Money for Terror' event
 
New Delhi: Prime Minister Narendra Modi will deliver the inaugural address at the third 'No Money for Terror' (NMFT) Ministerial Conference on Counter-Terrorism Financing here on Friday.

India is hosting the two day 'No Money For Terror' Ministerial Conference on Counter-Terrorism Financing with participation of around 75 countries.

The Conference will offer a unique platform for participating nations and organizations to deliberate on effectiveness of the current international regime on Counter Terrorism Financing as well as steps required to address emerging challenges, the PMO said.

The conference will build on gains and learnings of previous two conferences (held in Paris in April 2018 and in Melbourne in November 2019) and will work towards enhancing global cooperation to deny finances to terrorists and access to permissive jurisdictions to operate.

The Conference also intends to include discussions on technical, legal, regulatory and cooperation aspects of all facets of terrorism financing.

It will be attended by about 450 delegates from across the world, including Ministers, Heads of Multilateral organisations and Financial Action Task Force (FATF) Heads of Delegations.

During the Conference, deliberations will be held in four sessions focussing on ‘Global Trends in Terrorism and Terrorist Financing’, ‘Use of Formal and Informal Channels of Funds for Terrorism’, ‘Emerging Technologies and Terrorist Financing’ and ‘International Co-operation to Address Challenges in Combating Terrorist Financing’.

The Home Ministry said that Union Home Minister Amit Shah will be participating in the conference to convey India’s determination in its fight against terrorism as well as its support systems for achieving success against it.

The Conference attempts to also set the pace for other high level official and political deliberations, focused on countering terrorist financing.

Globally, countries have been affected by terrorism and militancy for several years.

The Home Ministry said that the pattern of violence differs in most theatres, but is largely engendered by a tumultuous geo-political environment, coupled with prolonged armed sectarian conflicts.

Such conflicts often lead to poor governance, political instability, economic deprivation and large ungoverned spaces.

The Ministry further said that the involvement of a compliant State often exacerbates terrorism, especially its financing.

India has suffered several forms of terrorism and its financing over more than three decades, hence it understands the pain and trauma of similarly impacted nations.

In order to display solidarity with peace-loving nations and to help create a bridge for sustained cooperation on countering terrorist financing, India was host to two global events in October - the annual General Assembly of the Interpol in Delhi and a special session of the UN Counter Terrorism Committee in Mumbai and Delhi.

The forthcoming NMFT Conference will further India's efforts to build understanding and cooperation amongst nations.


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