Modi's proposal for Terror Center getting traction
Prime Minister Narendra Modi's proposal to set up a permanent secretariat to coordinate bids to fight terror funding is gaining traction. Following the November 2022 international conference on “No Money For Terror” (NMFT) where the 77 major countries including USA, UK, Australia and Japan and 16 international organizations like Interpol agreed to set up a permanent Secretariat. China, Pakistan and a few other countries were not invited to this conference. The participating nation agreed to collaborate with countries across the world for suppressing the funding sources that allow terrorists and extremists to carry out their violent acts. A discussion paper was also circulated later and final touches are being given during the G20 deliberations. A formal announcement may emerge sooner than expected. Sources in the security establishment said the proposal was still at an initial stage as nitty-gritty are being worked out.
Since the Financial Action Task Force (FATF), an intergovernmental organization, has not been able to deliver its objectives, there is a need to set up another Center to enlarge its scope due to new challenges. The G7 countries had set up the FATF in 1989 and its headquarter is based in Paris. But India wants a new body with its scope and functioning to be enlarged with greater participation. The FATF’s work is setting global standards to prevent terrorist financing, detailing measures that all countries should implement. Interestingly, the G7 countries were in conformity with India's proposal to set up such a Center at the Ministerial Conference on Counter-Terrorism Financing. A session was co-chaired by T. Raja Kumar, President, FATF. India has said that the NMFT will not be an investigation agency but will function in collaboration and cooperation with the countries.
