Malaysia to Host Counter-Terrorism Financing Summit 2017

Indonesia Coordinating Minister for Legal, Politics and Security Affairs Wiranto speaks to journalists during a press conference on counter-terrorism in Nusa Dua, Bali, last year.

Kuala Lumpur, 23 Jumadil Awwal 1438/20 February 2017 (MINA) – Malaysia will host the Third Counter-Terrorism Financing (CTF) Summit from Nov 20-23 this year, a manifestation of the country’s support and commitment in addressing terrorism and terrorism financing.

Previously, the CTF Summit was co-hosted and founded by the financial intelligence units of Australia and Indonesia. It was held for the first time in Sydney in 2015 and Bali in 2016.

In a joint statement, Bank Negara Malaysia (BNM), the Australian Transaction Reports and Analysis Centre (AUSTRAC) and the Indonesian Financial Transaction Reports and Analysis Centre (PPATK, Indonesia) said the CTF is a platform for participating countries to collaboratively develop real solutions in countering terrorism financing, Malaysian News Agency (Bernama) reported.

Also Read: APEC Adopts Set of Initiatives to Benefit from Global Economy

Malaysia’s Deputy Prime Minister and Minister of Home Affairs Ahmad Zahid Hamidi said financial resources is a major factor that contributes to the development of terrorist networking.

“Malaysia is committed in negating financial flows to terrorist groups to disrupt their network and related activities.

“To ensure effective deployment of this initiative, strong collaboration with regional and international partners is crucial,” he added.

BNM Governor Muhammad Ibrahim said the summit this year will include promoting the strategic partnership between the public and private sectors to respond effectively to terrorism financing risks.

He said under the National Coordination Committee to Counter Money Laundering, the central bank, together with other domestic stakeholders, is ready to contribute towards robust outcomes in regional efforts to counter terrorism financing.

Also Read: Malaysia, Indonesia And Thailand Launch Local Currency Settlement Framework

Meanwhile, Australian Minister for Justice Michael Keenan said the CTF Summit had developed a reputation for delivering real outcomes, including the release of the first ever regional risk assessment into terrorism financing.

“By bringing together countries from Southeast Asia and Australia, we can develop a more detailed and nuanced regional understanding of the drivers behind terrorism financing risk and ways to combat this threat,” he said. (T/RS05/RS01)

Mi’raj Islamic News Agency (MINA)