India offers to host secretariat for NMFT initiative

NEW DELHI: India on Saturday offered to host a permanent secretariat to deal with anti-money laundering and combating the financing of terrorism issues under the global ‘No Money for Terror’ initiative. The offer was made at the third ‘No Money for Terror’ conference which concluded on Saturday.

During deliberations, India sensed the need for permanency of this unique initiative of No Money for Terror (NMFT), in order to sustain continued global focus on countering financing of terrorism, according to a statement issued after the conclusion of the two-day conclave. “Time is ripe for a permanent secretariat to be established. In order to take this thought forward, India offers to establish a permanent secretariat in the country. Shortly, India will circulate a discussion paper to all participants for their valuable comments,” the statement said. The meet welcomed Germany’s offer to host the NMFT in 2024 or 2025, while the process to finalise the host for the 2023 conference is on, the statement said.